Save Your Home or Cut Your Losses
"Should I try to save my home from foreclosure with a loan modification or sell it as a short sale?"This is the one dilemma homeowners across the country are faced with and unfortunately there is no easy answer. It all depends on your individual situation and you have to speak to someone (or many someones) with a working knowledge of the process. National Foreclosure Prevention Services does loan modifications for home owners, real estate agents and investors and part of our job and obligation is to make sure we are up to date on the different programs that are available. The lenders are constantly changing their guidelines to meet the many challenges and some of them are easier to work with than others. The government’s new proposals will actually INCREASE not DECREASE loan defaults. You have to wonder if these people have any idea what the average person is going through, both financially and emotionally. If you don’t have an adjustable rate mortgage (ARM) and yo...