I am sorry to hear about your financial situation. You are not alone in this process. Loss mitigation and loan modifications, as well as short sales are all options that may be available to you. Your banks may be able to offer these to you provided you meet their minimum qualifications. They will want to determine that you have a legitimate hardship (Job loss, or reduction in income and divorce count) and that you are able to afford your home if they can provide you with a loan modification. In the instance of a short sale, they will also want to verify a legitimate hardship and that you cant afford to stay there.
I really encourage you to contact your bank, or a professional consultant. Don't let anyone tell you that you have to be late on a payment to receive help. That simply isnt true. Also, dont pay anybody anything upfront. There are many professionals out there that will meet with you and be able to determine if you meet the criteria for help. If you qualify, they should be willing to collect at time of a successful outcome. If you would like a referral, please feel free to contact me. I am a certified consultant, and a licensed REALTOR. I have someone that I am very confident in referring, and I have seen him provide great service with amazing outcomes.
Toni Dalrymple, REALTOR and
Foreclosure Prevention Consultant
Prudential California Realty
Pleasanton, CA 94588