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Greenville Real Estate Hub

Avoid Foreclosure

Are you behind on your mortgage payments? Facing Foreclosure?

You should know that you are not alone. There are many other Greenville SC homeowners that are in the same situation. The first thing you have to remember when facing foreclosure is that you do have options that lower your payments, interest rates, or allow you to sell the home for less if you owe more than it is worth. If you are behind on your mortgage payments, you should not ignore your lender. Open all mail, and answer all calls from your lender. Let them know your situation and ask what your options are.

Short-Sales

Since the bank does not really want your house, the may be able to modify your loan and lower your payments based on your current income. Depending on your situation, your lender may also put you on a repayment plan, where you will be required to make additional payments each month until you catch up on the amount that you are behind. The worst thing that you can do is ignore the problem. Since there are so many home owners in default, most lenders are willing to work with you to keep your home, or get it sold to avoid going through the foreclosure process.

If your lender is unable to work with you to make the necessary adjustments to accommodate your situation, then you should contact Victor Amadi for Greenville area Short Sale consultation, to discuss the short sale option.

More About Short Sale

You see, a short sale is a way for a home owner who is behind on their mortgage payments to get their home sold and avoid foreclosure. In a short sale, the seller is negotiating with the bank to allow them to sell the home for less than is owed. The seller still signs the contract and closing documents, but he/she does not walk away with any cash at closing. The contract is still subject to final approval by the bank(s) because they have to agree to take less than what they are owed.

In order to successfully complete a short sale transaction, you need a local Greater Greenville area short sale professional, who will work diligently on your behalf. Contact Victor at 864-438-5050 to discuss your situation.

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