Loan Modifications: While only certain homeowners will be able to take advantage of this alternative, it is your best option because it keeps you in your home and preserves your credit rating. We at New England Asset Realty can negotiate you loan with perhaps a lower interest rate and term. All negotiations vary but I must say we have been very successful and at minimum cost to the seller. With monthly payments. Yes no gimmick!
Most lenders rather not foreclose. They take a very large financial hit on foreclosures. And that benefits the seller.
Know Your Rights: Walk away you say. That can certainly be done but it is not the best option. Did you know that you might be missing out on moving expenses paid by your lender, forgiveness of deficit by your lender. That's huge, in most cases you can salvage your credit and perhaps not have to claim bankruptcy.
SHORT SALES: We are the Experts
This has saved many sellers from having to claim bankruptcy. Abandon the property? Get it out of your head. Your lender understands the problems in this economy. We can talk to your lender on your behalf, price the property to sell even if lower than what is owed on it. Most likely your lender will cooperate if it's not too late. The lender pays our commission. We at New England Asset Realty try to relieve you of the stress and burden so you can concentrate on your new future. A short sale will require a lot of paperwork on our behalf with your lender and much more negotiations. The actual sale will take from 2-3 months. We have the buyer pay for smoke inspections and any other inspection that might occur. Call us today and let us help you come to terms with this decision.
BANKRUPTCY
Contact your attorney you have many options at your disposal. But sell your property and do right by your lender. We work well with attorneys.
DISTRESSED PROPERTIES
Less than perfect but like everything else, there are benefits. For the right price you can turn this into a gem. A great investment. And don’t forget the government rehab loans out there. Yes we have access to them. http://www.hud.com/
10 TIPS FROM HUD
1. Don’t ignore them
2. Contact your lender as soon as you realize you have a problem.
Or contact a negotiator
3. Open and respond to all mail from your lender
4. Know your mortgage rights
5. Understand foreclosure prevention options
6. Contact a HUD-approved housing counselor
7. Prioritize your spending
8. Use your assets
9. Avoid foreclosure prevention companies.
10. Don’t lose your house to foreclosure recovery scams
New England Asset Realty
Making dreams come true
478 Torrey Street, Brockton MA 02301
Phone: 508.941.0111 Fax: 508.941.0155
wquinn@nea-re.com
Monday –Sunday 9-5
