Jonathan Osman, The Charlotte House Hunter Group - Keller Williams Realty
Often, struggling homeowners shy away from a short sale because of the potential credit harm that will result from the sale. However, a mortgage modification is not without equivalent or more substantial credit penalties. The main issue with a mortgage modification is that your servicer or your investor may require that you are delinquent on [...]
If you have a mortgage with Bank of America (including a former Countrywide loan) and are experiencing trouble making your mortgage payments, you may want to attend the free borrower Outreach Event May 13-14 2011. Bank of America staff will be on hand along with HUD housing counselors to assist in working through a loan [...]
Today, it was announced that Fannie Mae has launched an additional programs to assist families of active-duty military experiencing a hardship. Homeowners with a Fannie Mae-owned loan are eligible for special programs including up to a 6 month forbearance in the cases where death or injury causes a hardship. Fannie has also set up a [...]
1. Moving Out of the Home Too Early. A trend that I have noticed among some distressed homeowners is that after a month or two of not paying the mortgage, they decide to pack up and move out. Depending on your circumstances, this could greatly impact your potential short sale or deed-in-lieu of foreclosure in [...]
A mortgage loan modification is an adjustment in your interest rate and payment terms to assist you in keeping your home. Much like with a short sale, you will need to have a proven hardship in order to obtain a modification. Unlike a short sale, you will also need to have sufficient income in order [...]
