We know that going through a mortgage hardship is one of the most stressful situations a homeowner can go through. Receiving hundreds of calls a day, being placed on a lis pendens list, and multiple calls from your lender asking if you’d like to apply for a loan modification. But is a loan modification the best alternative for you in your current position? With a loan modification you will lower your monthly premiums and stop the phone calls demanding that you catch up on your payments. It sounds like an amazing program, but this is when we, here at SIMS ask our clients to look at their situation logically, not emotionally.
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 You must have heard of the term “short sale” a lot in the past couple of years. A short sale is something we hear more often when a homeowner is going through a mortgage hardship and is looking for a quick way out to satisfy their mortgage. So, let us be a bit clearer on what exactly a short sale is. A short sale is when a homeowner sells his/her property, with the awareness and approval of the mortgage lender for less than what is owed to the lender. If the lender accepts the terms, then you can proceed with selling the property.
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Sims Management Group
105-13 Metropolitan Ave, Forest Hills, NY 11375 Office: (347)829-5756 Email: [email protected] |
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