subject: Stop Foreclosure – Easy Way to Avoid Foreclosure [print this page] Author: Hector Milla Author: Hector Milla
If you are facing property foreclosure, you might be confused about your rights as a homeowner. Financial stress can make everything seem so much worse than it really is. Its time to take a deep breath and explore your options. You can stop foreclosure with an easy way to avoid foreclosure. A short sale might be just the answer for you. What is foreclosure? Hector Milla Editor of the "Best Mortgage Loan Modification" website -- http://www.BestMortgageLoanModification.net -- pointed out; When a borrower accepts funds from a mortgage lender to purchase a property, he or she agrees to make payments on a strict payment schedule. If the borrower fails repeatedly to make the payments as scheduled, or falls behind, the mortgage lender can opt to foreclose on the property to recover dispersed funds as well as interest and late fees What is a short sale?
A short sale will stop foreclosure, an easy way to avoid foreclosure, in fact. A qualified representative can negotiate with your mortgage lender to get the lender to accept less than what is actually owed on your home. If you are at least one payment behind and are represented by a qualified specialist, this is a very likely option. Because you can offer your property for sale at a reduced price, it is likely to sell fast. A short sale will have less impact on your credit rating than a foreclosure and a mortgage lender must agree to accept all proceeds from the sale as payment in full based on a pre-determined minimum. As soon as you begin working with a qualified representative, harassing telephone calls will stop. You may even be able to stay in your home without making mortgage payments until the home is sold. In some cases, you can make arrangements to stay in the home longer H. Milla added. Dont let a foreclosure ruin your credit, carefully examine the short sale option. Further information about how to get professional assistance with a mortgage loan modification by visiting; http://www.BestMortgageLoanModification.netAbout the Author:
Hector Milla runs his corporate website at http://www.OpsRegs.com where you can see all his articles and press releases.
