Pre foreclosure is a good sign the property will be going into foreclosure. Some short sales can be approved short sales, but once the property is in pre-foreclosure, there is a good chance a short sale will not go through and that the bank will be the next to list the property.... more
Don't wait for anything call the bank call the people at makinghomesaffordable.gov. Get as much help as you can! This process is messy and lenders treat each situation differently and do not respond timely. It all depends on you. Have you applied for a modification? If not , pull up the lenders website and print the mod application and complete it with the required information. Sent the information via certified mail and fax and follow up and follow up and follow up. My luck has not been very good since 3/09 with the new program and the reported results have not been good either. Look at as may options as you can and cover all your bases to reduce your risks.
Neighborhoodworks at 888-995-home or www.nw.org
First Weber Group
Certified Distressed Property Expert
Greenfield, Wisconsin... more