How Can I Help You?
Solutions and Support for Homeowners Facing Mortgage Challenges
If you’re late on your mortgage, it’s normal to feel concerned about your financial situation and the impact on your credit. As a real estate professional specializing in this area, I offer customized options to help you avoid potential long-term consequences. This guide provides an overview of the solutions and support available to you.
What Can We Do to Help?
Short Sale Solutions
- What I Offer: Comprehensive guidance on listing your property as a short sale, an option when you owe more than the home’s market value.
- Why It Helps: A short sale can allow you to avoid foreclosure, minimize damage to your credit, and potentially move on without financial liability for the remaining mortgage balance.
As-Is Home Sales
- What I Offer: I can connect you with buyers who understand the value of your property in its current condition and are ready to make offers.
- Why It Helps: Selling as-is can save you time, minimize out-of-pocket expenses, and allow you to move forward without taking on additional debt.
Quick Cash Offers
- What I Offer: Access to a network of cash buyers willing to purchase homes quickly.
- Why It Helps: A fast sale can help you resolve overdue mortgage issues and receive funds quickly, offering an alternative to foreclosure.
Repair Assistance
- What I Offer: If you’re interested in making some updates to improve your home’s appeal, I can work with you to identify priority repairs.
- Why It Helps: By focusing on cost-effective improvements, we can target areas that will give you the most return on investment without putting a strain on your finances.
Financial Counseling
- What I Offer: Referrals to reputable financial and legal professionals who specialize in assisting homeowners in financial distress.
- Why It Helps: Working with experts can provide you with tailored advice to protect your financial interests and understand the full scope of your options.
Frequently Asked Questions
Q: What happens if I ignore the situation?
Ignoring missed mortgage payments won’t make the problem go away—it usually makes things worse. Most lenders will start the foreclosure process after 90 days of non-payment, which can result in legal action, damage to your credit, and ultimately the loss of your home. The earlier you take action, the more options you’ll have to avoid those consequences. Whether you want to stay in your home or sell, acting now gives you control.
Q: Can I sell if I owe more than the home is worth?
Yes, you may still be able to sell through a process called a short sale. In this situation, the lender agrees to accept less than what’s owed on the mortgage. It requires approval, but we can help you navigate the paperwork and negotiations. A short sale can be a better alternative to foreclosure and often leaves you in a stronger financial position.
Q: Will I owe money after the sale?
It depends on your specific situation. In a traditional sale, the proceeds are used to pay off your mortgage and any remaining equity is yours. In a short sale, the lender may forgive the remaining balance—but that’s not always guaranteed. We work closely with lenders to try to minimize or eliminate any remaining debt after the sale, and we’ll walk you through what to expect based on your mortgage type and state laws.
Q: What happens to my credit?
Falling behind on mortgage payments will affect your credit, but there are ways to minimize the damage. Selling your home before foreclosure, especially through a traditional or short sale, is often far less damaging than letting the foreclosure process play out. We can help you take the route that gives you the best chance at financial recovery and future homeownership.
Q: How long do I have before foreclosure starts?
Most lenders start the foreclosure process after 3 to 6 months of missed payments—but the timeline can vary depending on your state and loan type. Some states require a court process (judicial foreclosure), while others move faster without one (non-judicial foreclosure). Either way, time is critical. The sooner we speak, the more solutions we can explore together.