Avoiding Foreclosure

Getting behind on your mortgage payments can happen to anyone, especially in these tough economic times.  You are not alone!  According to USA Today, nationwide home foreclosures rose 81% from 2007 to 2008.  Learn the options if you are facing foreclosure.  Team Leung can help you navigate this unfortunate event to minimize the financial consequences. 

For a confidential consultation to see if you may qualify for a short sale, contact us today.

Beware of Scams  Be cautious of businesses that make guarantees, ask for fees up front or ask you to pay your mortgage payment to them.  The Federal Trade Commission's website highlights ways to spot disreputable foreclosure assistance and a short video with interviews with those who have been targeted by scam artist.

 When Bad Things Happen to Good People  Most common reasons for financial hardship.

Foreclosure is a Lose-Lose  Lenders, insurers, mortgage servicers and others all want to avoid foreclosure too.

Making Home Affordable  New website launched by Federal government which helps homeowners determine if they are eligible for loan modifications or refinancing. 

Options for Homeowners in Foreclosure  Find out the many legal options to foreclosure.

What is a Short Sale?  How is this different from a foreclosure?  

Using a Certified Distressed Property Expert  Only a small percentage of Realtors have this important credential.

5 Reasons Lenders Reject Short Sales  Avoid these common mistakes to increase your chances of approval.

Short Sale Documents Needed  Although each lender and situation is different, here is a list of the most common documents needed when short sales are submitted.

Tips for Writing a Hardship Letter  Get out your pen and start drafting a compelling letter!  Don't know where to start?  Here are some essential items to include.