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Winslow : Real Estate Advice

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Activity 2
Sat Sep 29, 2012
Marsha Bowen Washington answered:
Are you referring to repairing, cleaning out or selling REO;s.
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Wed Mar 14, 2012
Gina Chirico answered:
As others have suggested below, he should contact the bank immediately. Some options are loan modification (if he has the financial means to continue to pay for the home); short sale and/or bankruptcy proceedings may stay the foreclosure proceedings but he should consult an attorney to speak about bankruptcy. He can also get an extension of the sale but if the bank is willing to work with him, they may postpone the sale.

With all that being said, since he's defaulted and up until receiving this notice, has he had any contact with the bank? Has he tried to do a short sale? Was he denied for a loan modification? There are programs in New Jersey that do try and help homeowners keep their homes especially if they have income. Hoepfully its not too late to get help. Here's a link to those websites for foreclosure help: http://ginachiricorealestate.com/AvoidingForeclosure.html#foreclosurehelp

Good luck.
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