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Below is a list of possible options:
- Short sale: This involves selling the home for less than the amount owed on the mortgage, with the lender agreeing to accept the proceeds as full payment. We will oversee the entire process and negotiate on your behalf with the bank and prospective buyers.
Traditional on market sale: We will go over different ways to help maximize the sale of your home. We will create a strategy and realistic timeline to ensure a smooth process and successful sale. We will protect your equity and negotiate the best possible terms for you. If necessary, we can help with any repairs, landscaping, upgrades and staging to ensure you sell for top dollar.
- As-is cash sale: We will walk through your home to assess it's condition and current market value. We then present your home to our network of investors and shop for the highest and best offer. These offers are all cash with the home being sold as-is.
- Loan modification: This involves renegotiating the terms of the mortgage loan to make the monthly payments more affordable. The lender may lower the interest rate, extend the term of the loan, or reduce the principal balance.
Refinancing: This involves replacing the existing mortgage with a new one with more favorable terms, such as a lower interest rate or longer repayment term.
Forbearance: This is a temporary agreement with the lender to suspend or reduce mortgage payments for a specific period of time. At the end of the forbearance period, the homeowner resumes regular payments and pays back any missed payments.
Deed in lieu of foreclosure: This involves voluntarily transferring ownership of the home to the lender in exchange for release from the mortgage obligation.
Government programs: There are several government programs that can help homeowners avoid foreclosure, such as the Home Affordable Modification Program (HAMP) and the Home Affordable Refinance Program (HARP).