In continuation of our video series, here are two more videos regarding options for homeowners who have or may have to miss their mortgage payments.
You've probably heard of this one: loan modification. But do you know of anyone who's actually been successful and happy with their loan mod? This video talks more about the process and things to look out for.
And there is good news: I do know of a person who just got a loan modification after working on it for over a year. He did it directly with his lender after he and I talked about it and found a way to route his request to the right person at his lender (it's good to know people on the "inside"!). While he is happy with the current outcome, his expectation was to lower his monthly payments. Now if you're looking to reduce your principal, make sure you check out this video for more discussion on that:
And here's another option that most people seem to know about already: short sale. But is a short sale right for you? Watch this video and see if this resonates with you:
There are still more options that you may have beyond a loan modification or a short sale. Look out for our next videos for more info.
If you'd like to confidentially discuss your current situation and find out what your options may be, feel free to contact me.
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