Avoid Foreclosure
Homeowners who are struggling with their mortgage payments are facing tough choices—do you stay in a home you may no longer be able to afford or should you try to leave? While it may be difficult to think about leaving your home and making this decision, it may be the best option if other solutions to keep you in your home are no longer viable.
Don’t just walk away from your home. There are better options. The most important thing is to avoid foreclosure—and options may be available to assist you if you are ready to leave your home. Some options may even offer cash incentives to help you move and transition into different housing. Now’s the time to take action before it’s too late.
A short sale is the sale of a home for less than the balance remaining on your mortgage. If your mortgage company agrees to a short sale, you can sell your home and pay off all (or a portion of) your mortgage balance with the proceeds.
Short Sale
■Eliminate or reduce your remaining mortgage debt
■Assistance for relocation may be available
■Start repairing your credit sooner than if you went through a foreclosure
■May be able to get another Fannie Mae mortgage to purchase a home sooner (in as little as 2 years) than if you went through foreclosure (at least 7 years)
Deed in Lieu
With a Deed-in-Lieu of Foreclosure (DIL), you transfer the ownership of your property to the owner of your mortgage in exchange for a release from your loan and payments.
■Eliminate or reduce your mortgage debt
■May be eligible for relocation assistance
■Start repairing your credit sooner than if you went through a foreclosure
■May be able to get a Fannie Mae mortgage to purchase a home sooner (in as little as 2 years) than if you went through foreclosure (at least 7 years)
Associated Real Estate
Serving Tehachapi, Bakersfield, Lancaster, Palmdale, Rosamond, California City, Mojave for over 25 years.
Our FREE INFORMATION PACKET
can get you started and show you what information we need to effectively
negotiate with your bank. We are licensed Real Estate Agents and
charge NO UPFRONT FEES.
Homeowners who are struggling with their mortgage payments are facing tough choices—do you stay in a home you may no longer be able to afford or should you try to leave? While it may be difficult to think about leaving your home and making this decision, it may be the best option if other solutions to keep you in your home are no longer viable.
Don’t just walk away from your home. There are better options. The most important thing is to avoid foreclosure—and options may be available to assist you if you are ready to leave your home. Some options may even offer cash incentives to help you move and transition into different housing. Now’s the time to take action before it’s too late.
A short sale is the sale of a home for less than the balance remaining on your mortgage. If your mortgage company agrees to a short sale, you can sell your home and pay off all (or a portion of) your mortgage balance with the proceeds.
Short Sale
■Eliminate or reduce your remaining mortgage debt
■Assistance for relocation may be available
■Start repairing your credit sooner than if you went through a foreclosure
■May be able to get another Fannie Mae mortgage to purchase a home sooner (in as little as 2 years) than if you went through foreclosure (at least 7 years)
Deed in Lieu
With a Deed-in-Lieu of Foreclosure (DIL), you transfer the ownership of your property to the owner of your mortgage in exchange for a release from your loan and payments.
■Eliminate or reduce your mortgage debt
■May be eligible for relocation assistance
■Start repairing your credit sooner than if you went through a foreclosure
■May be able to get a Fannie Mae mortgage to purchase a home sooner (in as little as 2 years) than if you went through foreclosure (at least 7 years)
Associated Real Estate
Serving Tehachapi, Bakersfield, Lancaster, Palmdale, Rosamond, California City, Mojave for over 25 years.
Our FREE INFORMATION PACKET
can get you started and show you what information we need to effectively
negotiate with your bank. We are licensed Real Estate Agents and
charge NO UPFRONT FEES.
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