IS THERE ANY GOOD NEWS FOR THE HOME OWNERS FORECLOSURES? WHO`S HOME VALUE WENT DOWN 200K IN LEHIGH ACRES,

Asked by Luis, Lehigh Acres, FL Wed Jul 8, 2009

MY FRIEND BOUGHT A HOME FOR 260K THREE YEARS AGO AND NOW THE VALUE IS 64K .IS THERE ANY HELP.....?

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5
Danielle Sha…, Agent, Cape Coral, FL
Wed Jul 8, 2009
Luis,

Has your friend contacted their lender to discuss loan modification? I know that most lenders are about 60 days behind in that dept but it's well worth a call. The interest rate and/or principal can be lowered in order to make the payment much more affordable. If your friend's lender isn't willing to cooperate, there's government help as well................ http://.www.hopenow.org.

If that fails, the next step would be a short sale. Your friend would be able to stay in the home while it was for sale. Depending on who purchases it, your friend may be able to stay and rent the property back. Some of my investors are highly interested in that situation.

Please let me know if there's any questions you have or need some more info. Have a great day!

Danielle Sharp
Broker Assoc
Vadala Realty

Cell 248.207.4445
sharphomes@yahoo.com
Web Reference:  http://www.daniellesharp.com
1 vote
Susan Hofmann, Agent, Fort Myers, FL
Mon Apr 30, 2012
Sellers of short sales will have to wait 2-5 years until they can apply for another mortgage.
0 votes
Danielle Sha…, Agent, Cape Coral, FL
Sun Apr 29, 2012
If you haven't made a payment then you're looking at a minimum of 2 years before another lender will approve you for a mortgage.
0 votes
Mohammed, Home Buyer, Lehigh Acres, FL
Sun Apr 29, 2012
i get a forclosures notice 2 years ago now i am working with bank for short sale i am waiting for final approvel from bank. now how long i have to wait for get loan for purchase a new home?
0 votes
John B, , Studio City, Los Angeles, CA
Tue Jul 21, 2009
things just getting worse in all america.
Look at this blog it will help you to learn more about your situation.
I've got most of my answers there as well.

Good Luck.
0 votes
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