•  Industry estimates find that half of all homeowners who lose their homes to foreclosure have no contact with their loan servicers.  Homeowners at risk of default or those who already are behind on mortgage payments are advised to contact their servicer at the first sign of trouble.  Consumers should request to speak with someone in the home retention dept., and expect a long wait time. 

•  When working on a loan modification, short-sale, or repayment plan, servicers likely will ask the homeowner to explain the reasons they can no longer make their mortgage payments.  Borrowers should be honest and realistic.  The servicer also will need to verify the borrower’s current income, unemployment benefits (if any), household expenses, tax returns, property taxes, hazard and flood insurance premiums, and condo or HOA dues.

•  Whether the loan servicer requests it or not, borrowers should include a letter authorizing the servicer to speak with their REALTOR®, another family member, or perhaps their attorney, as this can help speed up the process.

At County Properties 23 years of brokerage experience and trust! We offer free counseling in real estate re; home values and information on options of selling vs Foreclosure.  If you have equity in your home, we will sell your home and get top dollar in this challenging market. If you do not have enough equity, and you must sell your property as a short sale we have the expertise to do so also. Please feel free to contact me today for free counseling at (619) 301-0200 visit our website, click  CountyProperties.net

 By the way…if you know of someone who would appreciate the level of service I provide, please call me with their name and business number and I’ll be happy to follow up and take great care of them.