Thursday, May 15, 2008

Help.. I can't pay my mortgage anymore.

Short answer here is we can help you. More directly you should call your lender or mortgage servicer right away and explain your situation. There are several approaches to resolving this situation. Your lender may recommend a payment plan, or one of several other solutions. If it is more serious and your circumstances have changed since you purchased your home (and whose hasn't) gas, oil, food, no raise to keep up with expenses etc. You still have options. Even if you are behind on your mortgage, or are in foreclosure you have the right to sell your home and pay off your mortgage up to 3 days before the bank auctions it off. As devastating as this scenario is do not do nothing! A complete analysis of your position can be done for free by an attorney or experienced realtor. As an example, if you owe $300,000 on your home and it is only worth $250,000 You still have options. In many cases a properly positioned offer at $250,000 made to your bank will be acceptable to them. In many cases they will not look to you for the shortage. We can help so don't put off asking someone for help time is of the essence. You can recover from this situation. Call and we can discuss your options