Determine Your Current Situation

Before you go crazy trying to figure out your options, it is better to take a step back and simply analyze your current situation. Every situation is different because every person or family is unique, take this time to gather all your documents and information so that you will be ready for whatever happens.

Here are a few things you should try and find:

1. current mortgage balance/payoff
2. total outstanding water/sewer or taxes owed
3. recent attorney correspondence letters (if any)
4. phone number of mortgage company representative

Once you have all this preliminary information ready, you can move to the next step…

Note: If you do not understand the paperwork or just don’t have time. Please call us for immediate assistance at 877-517-0800

Next Step

Get Prepared and Ready

Once you have assessed your current situation and have all the facts, it makes sense to prepare and ready yourself for the possibility of working with a real estate professional to get the best work-out. Most of the properties on the market are maxed out and/or have little equity, some may even be upside down (owner owes more than value).

No matter what situation you are in, there are proven methods to give you the best possible work-out. Banks have always worked with distressed home owners and we have encountered just about every work-out scenario.

Here are a few things you can prepare on your own to get ready for a work-out:

Note: If you do not understand the paperwork or just don’t have time. Please call us for immediate assistance at 877-517-0800

1. Prepare Letter of Authorization
Lenders typically do not want to disclose any of your personal information without written authorization to do so. If you are working with a real estate agent, closing agent, title company or lawyer, you will receive better cooperation if you write a letter to the lender giving the lender permission to talk with those specific interested parties about your loan. Download the Letter of Authorization and Fax to: 201-215-9562

Download the Letter of Authorization

2.  Hardship Letter

The sadder, the better. This statement of facts describes how you got into this financial bind and makes a plea to the lender to accept less than full payment. Lenders are not inhumane and can understand if you lost your job, were hospitalized or a truck ran over your entire family, but lenders are not particularly empathetic to situations involving dishonesty or criminal behavior.

Once you have completed this step or if you need help with preparing these documents, please move on…

Note: If you do not understand the paperwork or just don’t have time. Please call us for immediate assistance at 877-517-0800

Final Step

Seek Professional Assistance

Now that you are more prepared to speak with a professional, it’s time to take the next step and ask for some help. Many people are often embarrassed by the situation and miss out on the help they require and deserve. This is no time to take a back seat. You want and need people who know short sales and distressed real estate situations.

If this were a health issue, would you be afraid to ask? Of course not! So think of this as you financial health, if you don’t seek help and take care of it…it will get worse. Professionals can help you heal and recover financially faster than you probably can on your own so its better to do it once and do it right.

Let us help you pick up the pieces and put this real estate puzzle behind you…

Note: If you do not understand the paperwork or just don’t have time. Please call us for immediate assistance at 877-517-0800

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