We offer help with loan modifications to aid struggling homeowners to catch up loan or reduce interest rate to create more affordable payment.

Loan modifications should use npv, income and hardship to determine loan mods. However, in my experience these factors are not always properly examined. I have clients who I believe we’re likely not qualified and they end up with principle reductions and mods.

If you have determined you don’t want your house, it’s too far underwater or you simply cannot afford it (even if it was modified). A deed in lieu of foreclosure is the best avenue for a homeowner to surrender their home and eliminate the liability.

Homeowner approaches lender and negotiates to return the home. Homeowner gives up the keys and redemption rights in exchange for the bank taking back the home and waiving any deficiency amount. Homeowners who simply allow home to go to foreclosure risk the bank selling the home at auction, if the home sells for less than the amount owed, the bank can sue the homeowner for the difference. Huge liability.

With the increase in home values short sales are not as prevalent as they once were. Nevertheless they are sometimes a useful tool. A short sale is negotiating with the bank to sell your home for less than you owe on the mortgage and having the mortgage holder waive any further amount you owe after the sale of the property.