The economy is not helping the nations housing crisis, and to make matters worse many individuals homes are worth less today than it was when they purchased the property.  If you house is underwater, your behind on your payments or facing foreclosure you do have options.  Each of these options have the benefits and disadvantages and should be addressed with the help of a professional.

1. Loan modification- a loan modification is done in conjunction with your lender to reduce the principal balance, reduce the interest rate or a combination of both.  This is a cumbersome process and should be done with the help of a professional.  If you would like to KEEP your home, a loan modification may be the answer.
2. Bankruptcy-  This would be done in conjunction with a bankruptcy attorney.  Homeowners may be able to keep their homes and get a fresh start, contact me for a list of reputable bankruptcy attornies.
3. Deed-in-Lieu-  This is a deal between the homeowner and the lender and basically the homeowner turns over the keys to the lender.  This would be done if the homeowner DOES NOT want the home.
4. Short Sale-  This is where the lender may allow the homeowner to “sell” their house for less than what is owed.  If the homeowner wants to sell their house and start over, this may be an option.

If you would like to discuss these options in more detail through a private consultation contact me today, there is no cost or obligation.