We have all seen the plight that excessive amounts of Bank Owned/REO properties have had on our VA Home Loan San Diego Market. Add in the slew of pre-foreclosure Short Sales for homeowners desperately trying to avoid foreclosure, and we end up with the current equity destroying & value depressing crisis.
For struggling homeowners trying to stay away from foreclosure, there is an alternate solution to keep in your home and PROTECT your neighbourhood values at the same time and also travelling….
Modification of your EXISTING home loan through a workout agreement with your lender can be just the solution to keep you in your home, paying payments you can afford BASED ON YOUR BUDGET and circumstances. By keeping homeowners in their homes, we can protect neighbourhood values by staving off additional distress short sales or Bank Owned/REO properties.
What to look for when you consider a loan modification:
- You want to work with an established, reputable company that is attorney based. By retaining an attorney to pursue your loan modification you can be sure that what is being done is ethical, within the law and that you are being protected.
- Money-Back Guarantee — if the loan modification cannot or does not perform, what recourse do you have to recover your hard earned money? Reputable modification companies will have an iron-clad money-back guarantee.
- What is their success rate and have they helped homeowners in your community? Every situation is different, and the loan modification is a relatively new industry, be sure to pursue a company that can back up their statements with satisfied client testimonials.
If you are interested in learning more about applying for a loan modification through a reputable, local, attorney based company, give us a call.