Probably not a good idea to post your phone number. This world is full of crazy people. Your county records department has a database of properties showing when the NED was filed. (Notice of Election & Demand).... more
The answer to your question is dependent on trying a short sale verses a foreclosure and knowing the difference between the two. Usually with a shortsale your turn around time is much shorter to purchase again- 2 years, with a foreclosure the time period is 5 to 7 years. Speak with an attorney and a certified publlic accountant.
Susan Penn, PA, SFR
2000 Main Street
Weston, FL 33326... more
NO, NACA is not a scam. It takes time to go through the process. They look at what you can afford based on all of your bills and monthly expenses. They want you to be a sucessful homeowner. I am almost complete with the process. Of course other mortgage brokers are going to tell you differently because they want you to go through them.
I always tell people, it cost nothing to go to one of there seminars to get the information. Then make the choice yourself. You will be doing yourself a favor.
No you do not have to go into their office all the time. I started this process in Aug last year and have been to the office 2 times for my appointment.... more
What stage of foreclosure. If you are now the true owner of the property and you have at least 7 days before that sale date you MAY have options.
1) you can bring cash to the table to cure the default any time before 5 days before the sale date.
2) You may be able to negotiate a forebearance with the lender explaining the situation.
3) If your plannin on occupying the residence and the home fits the criteria of HAMP I would immediately submit a loan modification package.
1) Loan balance when loan was originated needs to be $729,950
2) owner occupied
3) loan was originated before 1/1/09
4) total payment of the FIRST loan including principal interest taxes insurance and hoa is more than 31% of your gross.
If you meet all 4 of above you may be eligable for the Making Home affordable modificaiton which offers you protection. However this is not typically the only mod servicers/lenders offer.
If you submit your complete package 7 days before the sale date the lender / servicer to review you for a mod.
This of course can be done on your own but I do suggest using an experienced Law Firm.
The lender does work differently with a Law Firm then they do with an owner.
Legal Assistant / Realtor
Volo law Group / Legal Realty