Stop Foreclosure Do A Short Sale Free consultation,Nisha Kaur (Buy Sell in VA, MD & DC)

[buysellvahomes]

Before deciding to investigate a short sale with your lender, explore every other possible option with him. If the sort sale is the only possible way to prevent foreclosure, be absolutely certain you understand all the possible repercussions and get them in writing. Inquire from the lender whether the remaining balance due on the debt will be forgiven or if they are going to file a judgment against you in that amount.

[buysellvahomes]

To qualify for a "Short Sale", homeowners must demonstrate a hardship and be financially insolvent. The homeowner should be able to demonstrate inability to make the loan payment. Most importantly, homeowners must prove a willingness to cooperate with the process.

[buysellvahomes]

Never, ever ignore late notices, letters or calls from your lender. They would much prefer to work together with you to resolve the situation, but will not hesitate to begin foreclosure proceedings if it appears that you are unwilling to work with them to avoid foreclosure.

[buysellvahomes]

Absolutely the first step to avoid foreclosure is to contact the lender and let them know your situation. In many cases, they can work with you to temporarily modify payment terms until your situation is resolved.