
If you can’t pay your mortgage loan because your circumstances and financial situation have changed and you think foreclosure is imminent, I want you to know that there is a way out. Don’t let fear or embarrassment stop you from seeking help, avoiding the foreclosure process is also important to the bank. Through this material, I am going to present you the alternatives that the bank can offer you so that you can avoid this process and be able to succeed.
In real estate we refer to the “Short Sale”, when a homeowner with financial problems sells his property for less than the amount owed on the mortgage. This alternative results with less losses for the mortgage institution; at the same time, it allows the owner to get out of the loan that he cannot continue to pay.