[-----------------------------------------------------------------------5 Months ----------------------------------------------------------------------]
Once the”NED” has been filed…
- If you intend to stay and get the loan current, you must submit “Intent to Cure” within 110 days.
- Once the “Intent to Cure” has been filed, you can cure anytime up until 1 day before the Sale.
- If the loan isn’t cured, the home is lost to foreclosure after the “Foreclosure Sale” is complete.
“CURE” the Home…
- Bring the Loan Current, & Pay On-time Monthly
- Pay all Late Fees & Penalties Allowable by Law
- Pay all Attorney’s Fees Associated with the NED
Postponing or Avoiding the Foreclosure Sale
There are several ways to postpone or avoid foreclosure once the NED has been filed. These are the 2 best options available to Homeowners, other than getting the loan current and bankruptcy.
Loan Modification…
- Contact the Mortgage Servicer and/or The Hightower Team
- Provide all Necessary Info to Request the Loan Modification
- Contact the Mortgage Servicer Once a Week, Check Status
- Check Mail and Open All Mail Received Daily
- Do Whatever it Takes to Stay in the Home!
Short Sale…
- Calculate the Value of the Home, Is it “Up-Side-Down” ?
- Provide the Broker/Lender with Hardship & Financial Info
- Contact and Notify the Lender of the Short Sale Situation
- If Necessary, Negotiate All of the Terms of the Short Sale
- If Necessary, You Agree to the Terms and Sell the Home
- DO NOT Lose the Home to Foreclosure! Help is Free.
Making Home Affordable
- Loan Modification
- Short Sale
“IMPORTANT NOTICE”
The Federal Trade Commission issued the Mortgage Assistance Relief Services Rule 16 CFR 322 (MARS).
MARS defines “mortgage assistance relief service” to include: “negotiating, obtaining or arranging a short sale of a dwelling.”
You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender(or servicer). If you reject the offer, you do not have to pay us. If you accept the offer, you will have to pay us the amount agreed in our listing agreement for our services. Keller Williams and The Hightower Team are not associated with the government and our service is not approved by the government or your mortgage lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.
