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By Joanna Jensen | Real Estate Pro in 94566
  • Are you facing a financial hardship but not sure if you should modify or short sell?

    Posted Under: Market Conditions in San Rafael, Financing in San Rafael, Foreclosure in San Rafael  |  October 21, 2011 12:19 AM  |  1,167 views  |  No comments
    With home value dropping, it is not easy to know what to do when our savings starts to fall.

    If you are still current on your mortgage payment you have the most options.

    If you owe more than your home is worth you may qualify for a short refinance, however you need to be current on your mortgage payment on your first loan.

    Here are a few options:

    1:  a Short Refinance may be available for home owners with an FHA loan who are current and upside down on thier first loan by at least 114%.

    2:  a loan modification may be available as wll if your not current here you need to have your first mortgage payment greater than 31% of your gross income.

    for assistant with figuring our this information call:

    925 699 5041  this initial consultaion is free  

    JoAnna Jensen  Realtor    Legal Assistant     Volo Law 

    Tony Bayard de Volo    Volo Law 

    If you have been denied a Loan Modification we can assist you with  a Net Present Value WorkSheet.

    Additionally per the FDCPA there are disputes the can be done as the home owner you can always ask the lender why you were denied and you can ask for informaiton about your loan. 
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