Behind in your Mortgage Payments? Free Resources to Check out.
If you are behind in your mortgage payments or are anticipating the inability to pay, here are some tips and resources to help you buy time, renogotiate or avoid foreclosure.
Rule #1: CALL THE MORTGAGE COMPANY...do not wait until you are really far behind.
You may qualify for programs that may fix your situation. Yes, talking to your mortgage company is like chewing glass no matter how much their recordings say they love you...but hey that is the ball game and they have the ball....however this game has rules, referees and advocates to help you.
The good news is that lenders do not want to foreclose on your property, they already own enough and the process is expensive for them, so be pro active and see if a crisis can be averted.
Have all the following documentation ready before you call, it will help the process go faster with fewer bumps in the road:
-W-2 s and Tax return
Any additional debt you may be carrying:
-Second Mortgage statements
-student loans car loans
Be sure to prepare a short statement about your current or future financial hardship situation....they will ask for this
Also, 2 organizations whose goal is to help you are:
Even more resources:
The following information is provided courtesy of Northern VA Assoc of Realtors:
Ongoing regional Foreclosure Prevention Clinics are also being offered by Housing Counseling Services, a Department of Housing and Urban Development (HUD) approved housing counseling agency and a contract agency of the City of Alexandria. For more information on HCS’ Foreclosure Prevention Clinic, download the flyer.
Legal Services of Northern Virginia (LSNV) provides legal advice and housing counseling to low-income homeowners facing foreclosure. In addition to having offices throughout Northern Virginia, LSNV has an office in Alexandria at 603 King St., on the Fourth floor. The telephone number for the Alexandria office is (703) 684-5566. Those seeking assistance can either call or walk in to set up an appointment. For additional information on LSNV’s Foreclosure Legal Assistance Program (FLAP), see LSNV’s website at www.lsnv.org.
If you need local human beings to talk to about this, please feel free to drop us a line. We are happy to share our experiences.
Why pay more and get less when selling your home? Jan and Steve Bachman of RE/MAX Gateway use professional photographers, create interactive photo floor plans, print full color brochures, and make an individual property website for your listing that goes out to 40+ public real estate search sites including Realtor.com, Trulia, Zillow etc.
We also create a custom photo tour that is sent to other agents and prospective buyers.
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Jan and Steve Bachman are full time Realtors® with RE/MAX, specializing in Homes for Sale in Fairfax, Loudoun, Prince William and Arlington Counties.
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