Are You Facing Foreclosure?

Mullica Hill NJ: What can you do if you are facing a foreclosure?

One of the scariest and worse case scenarios for a homeowner is getting so far behind in your payments that foreclosure is leering around the corner. You feel as though you have let everyone, yourself included, down. You feel embarrassed, even if you aren't actually holding the papers yet. So now what? Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here are a few tips to help you out:
1.) First off if you've been getting letters threatening foreclosure you need to step up and take action. Ignoring them until you actually get the foreclosure papers sent to you will not make it go away.

2.) Its time to sit down and figure out how far behind you are and if it is truly realistic to catch up your payments. You have to be real and honest with yourself about your situation and figure out a realistic budget to work with. Thinking that oh I can do this, I just have to cut out my $5 latte every morning and make up the money is not a realistic option that will get you out of the situation. Be realistic and figure out exactly how much you can budget each month for the necessities and the small extras. If you haven't noticed, this entire step has used the word realistic and thats the exact word you have to keep in mind.

3.) You have to realize and keep in mind that, in all honesty, the last thing your lender probably wants is to own your home. They are in the money business, not the home owning business. If they are forced to take over the home they're also faced with everything a homeowner is faced with; such as all of the maintenance, upkeep, heating bills, air conditioning bills, all of the utility bills and more. This comes down to one thing, they really don't want to take your home and would probably much rather work with you to make realistic arrangements in helping you keep your home.

4.) Do not avoid your lender. Call them and start to see what can be done to stop the foreclosure. Once the actual foreclosure begins its very hard to stop it; so you want to make sure you contact them immediately. If you reach a person that you simply cannot deal with and takes the approach of scare tactics and put downs, then immediately request to speak to their superior. You deserve to be treated with respect throughout the entire process and demand such. Once you start talking to the financial agent you may find they have many options in place to help you. You are not the first person they've had who was in the position of possible foreclosure and you wont be the last.

Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail at lsarlo@comcast.net. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have.

Or, if you prefer, you can call me at 609-868-1171 Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Larry Sarlo.

Larry is a Real Estate Agent at RE/MAX Preferred. Mullica Hill Short Sales Realtor: Phone: 609-868-1171. lsarlo@comcast.net. Know Your Options, I Can Help!

Search foreclosures and short sale here: SHORT SALE DEALS

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In the subject line on your mobile phone- LSAR1 -to number 87778 ... hit send...
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View My homes for sale at www.LarrySarlo.com.

Larry Sarlo specializes in loan modification assistance and short sales in Mullica Hill New Jersey. Mullica Hill Loan Modification Help, Mullica Hill Short Sales. Mullica Hill NJ Short Sales. Mullica Hill Realtor.

Important Notice Larry Sarlo and RE/MAX Preferred, are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why? Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit. However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification. We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale. The views expressed here are Larry's personal views and do not reflect the views of RE/MAX Preferred.

This information about Are you facing Foreclosure? is provided as a courtesy to our viewers to help them make informed decisions.

Camden County NJ: The Short Sale Process from Beginning to End!

Short Sale Process from beginning to end

Sicklerville NJ – The short sale process can vary, but it will generally work as follows:

1) The lender is contacted to discuss the possibility of a short sale and to determine the lender's process for completing the sale.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

2) The seller issues a letter authorizing the release of personal information about the loan and the property to the buyer or escrow agency.

3) The lender will review a settlement statement, which will indicate the proposed selling price, remaining loan balances and itemize all expenses, including real estate commissions and other fees and expenses associated with the closing.

4) The seller will complete a "hardship letter," which will detail and explain all financial difficulties. Lenders will usually want to validate the seller's financial situation by looking at bank statements, investment accounts, along with examining paystubs and other financial records.

5) The lender will then look to the broker to provide a price opinion by examining the condition of the house and the market value of comparable properties.

6) The lender will then want to scrutinize the purchase agreement to determine if all amounts are reasonable and the real estate commission is acceptable.

To get the lenders approval, first of all write a letter to him about your hardships, backing it up with substantial proof of your financial situation. The next step would be to place the offer.

It would help your case if you get your real estate agent to convince the lender that the price of the property has not been ridiculously lowered.

The last step would be to have detailed pictures and a map of the house, showing details of any repair work if required to be done.

Once the lender approves, the deal is ready to be closed. The buyer can then make out payment to your real estate agent, lawyer or short sale expert who helped negotiate the short sale.

The remainder of the funds is then diverted to paying off your mortgage. In case you are a buyer and are interested in buying a short sale property then you might get enticed at the low prices for a property in a high priced neighborhood.

However, it is better to take caution and not jump at the opportunity. First of all it would be advisable to suggest to your real estate agent to make enquiries with the listing agent and ensure that the property is a short sale one.

Before taking the leap hire an agent who has experience in short sale. Next, it is essential that your agent find out how much the seller owes the lender, who is in the title and whether a foreclosure notice has been filed.

Although the seller might have approved your offer, no deal can be made until the lender has approved.

Have a copy of your earnest money deposit sent to the lender and additionally the lender also might want to know if you are pre-approved and have your own loan available.

Most likely the lender will directly negotiate the commission with your listing broker since he is losing money. The deal will be finalized at this point. Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at lsarlo@comcast.net. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 609-868-1171

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Sicklerville loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Larry Sarlo.

Larry is a Remax Preferred Agent Certified Property Expert. Sicklerville Short Sales Realtor: Phone: 609-868-1171. lsarlo@comcast.net.

When You want it Sold Fast

View short sales and foreclosures for sale at SearchNJForeclosures.com and LarrySarlo.com

Larry Sarlo specializes in loan modification assistance and short sales in Sicklerville New Jersey. Sicklerville Loan Modification Help, Sicklerville Short Sales. Sicklerville NJ Short Sales. Sicklerville Realtor.

Larry Sarlo is a RE/MAX Preferred Agent, Certified Distressed Property Expert CDPE
Please contact me at 609-868-1171, Email: LSarlo@comcast.net, Fax:856-258-6040

Office:856-589-4848,

Important Notice

Larry Sarlo, and REMAX Preferred, are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

If you stop paying your mortgage, then you could lose your home and damage your credit. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Larry Sarlo's personal views and do not reflect the views of Remax Preferred.

This information on Sicklerville Short Sales: The Short Sale Process from beginning to end is provided as a courtesy to our viewers to help them make informed decisions.