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A & B Mortgage
Brokers of Florida
A Mortgage Brokerage
Business is licensed with Florida Dept of Banking & Finance.
Loan Modification is for your primary residence (owner
occupied.) Other options are available for Investors & second home owners but
we’ll need to speak directly to your lender for these programs.
HAFA,
Home Affordable Foreclosure Assistance Program.
HAMP,
Home Affordable Modification Program
If your lender is participating in
HAMP or HAFA the qualifications are well
defined.
To see
if you qualify under HAMP or HAFA we will need
to see if you are eligible.
You may want to Refinance, Modify or
choose Foreclosure Alternates. One option is
forbearance, where your monthly payment
is either reduced or eliminated for a specific
amount of time. After that, you’ll have to start repaying
the past due amount.
If you’re going to apply for a loan modification, Please
call or email us first to discuss your hardship and how you’ll explain this to
the Bank/Lender. I’m happy to help you and if you need to short sale this will
greatly increase your chances of success. I cannot over-emphasize how you can be
your own worst enemy in this part of the process.
If you are behind on your mortgage
payments or foresee that you will soon be unable to continue making your
payments - take heart. We are here to help you.
Foreclosure situations tend to be
extremely time sensitive so ACT NOW.
There are countless hardships that can
turn home ownership from joy into a burden. The loss of income, a job, illness
with high medical expenses, or an unexpected hike in your monthly payments can
all make a mortgage unaffordable. But ignoring the bills will not make them go
away, it will only make things worse. If you need help, there are approaches
that can help, but you may not be familiar with them. One of these is a “short
sale”. As a Short Sale Specialist we work with a lot of home owners in financial
hardship, educating and guiding them through the short sale process.
In an approved short sale, the existing
lender agrees to accept less than is owed for the property, and the home owner
is relieved of the debt. A lender may be willing to do this because it spares a
lot of hassle and expense involved in executing a foreclosure. A short sale or
deed-in-lieu is a very smart move for both the lender and the home owner because
the home will maintain it’s value better when occupied, and the home
owner/borrower gets to reduce their debt. load.
We will work with your Bank/Lender to
negotiate a lower payoff amount on your home, to get it down to a price where it
w ill sell in this market. It costs Bank/Lender around $58,000. on average to go
through a foreclosure process. considering this and the fact that high numbers
of foreclosures can make your Banks/Lenders look bad to it’s Investors, it is in
everyone’s best interest to accept a short sale. Any offer in a short sale
situation is subject to approval by the Bank/Lender (existing mortgage holder).
This can often take an extended period of time, so short sale buyers and sellers
need to exercise patience to get through the process. In the end, this can
result in a great deal for the buyer and seller of a short sale property. “A
Win Win”
Contact
Me for a Loan Modification Package, Loan Doc. Review, or Short Sale Consultation
& Package
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