FAQs

What services you offer?

Mortgage Loan Modification
Short Sale Negotiations

How much is this going to cost?

Our Short Sale resolution option is at NO COST to the homeowner.
Loan Modifications are offered at affordable MONTHLY PAYMENT PLAN through our trusted partnerships.

What is a Hardship?

Reduction of income due to death, illness, divorce and business failure are some examples of homeowner hardships.

I already left the property, Am I still responsible for the mortgage?

Although you no longer reside or use the property, you are the primary owner of a vacant property. YOU ARE STILL LEGALLY AND CONTRACTUALLY OBLIGATED.

Am I responsible for the mortgage if I inherit a property?

Fortunately, an inheritor/heir is not obligated to pay the mortgage of a property in foreclosure, unless they are a co-signer or they share the title of the property.

How does a Foreclosure and a Short Sale show up on my credit?

Foreclosure are reported as “FORECLOSURE” and can stay on your credit report for seven years or longer.

Short Sale is reported as “SETTLED” or “PAID AS AGREED”, and is much less harmful to credit.

FAQs

What is the difference between a Short Sale and a Foreclosure?

Relocation Assistance

Foreclosures does not receive Relocation Assistance.
Short Sales does receive Relocation Assistance.

Public Notice

Foreclosures there will be public notice of.
Short sales are private, no public notice of.

Property Sold at Auction

Foreclosure means properties sold at auction.
Short Sales are not properties sold at auction.

Credit Worthiness

Foreclosures affects credit for a minimum of 7 years and maximum of 10 years.
Short Sales affects credit for 18 - 24 months.

Qualify for a New Mortgage

Foreclosures take about 5-7 years
Short Sales take about 18-24 months

Privacy

Foreclosures must be disclosed on applications when asked/ required
Short Sale is kept private

Employment/ Future Employment

Foreclosure can affect certain types of positions or may not qualify for hiring.
Short Sale does not challenge employment.

Deficiency Judgment

Bank may pursue a deficiency judgement in a Foreclosure.
Short Sale satisfies debt to the lender.