Understanding the pre-foreclosure and ultimately the foreclosure process can be very daunting.
Let us help you navigate through the many different options.
Let us help you navigate through the many different options.
A Loan Modification is a permanent change in one or more of the terms of a mortgagor's loan, allows the loan to be reinstated, and results in a payment the mortgagor can afford.
A short sale is a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold. In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the mortgagor.
The foreclosure process as applied to residential mortgage loans is a bank or other secured creditor selling or repossessing a parcel of real property (immovable property) after the owner has failed to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust".
A forbearance agreement is one way to prevent foreclosure.
Search here for all short sale listings in Santa Cruz County or Contact Us for a list of all REO foreclosures.
If you do not have the time or desire to pursue the respective options, you may want to hire someone to manage your challenge.