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Janet Sorensen
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    Years of Experience: 10

Direct: 208-681-1367

Office: 208-529-8888

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Keller Williams Realty East Idaho
3525 Merlin Drive
Idaho Falls, ID
208-529-8888

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Posts Tagged ‘Idaho Falls short sales’

Short Selling Your Home in Idaho Falls May Not Be the Answer

Friday, November 20th, 2009

Are you struggling to pay your mortgage payments? Have you experienced a significant decrease in income? Are you already behind in your payments? Do you owe more on your home than it is worth? If you answered “yes” to some or all of these questions, you may want to visit www.makinghomeaffordable.gov
The federal government is offering 2 different types of help for home owners who are struggling to make their mortgage payments.

Loan Modification: If you can no longer afford to make your monthly loan payments, you may qualify for a loan modification to make your monthly mortgage payment more affordable. Millions of borrowers who are current, but having difficulty making their payments and borrowers who have already missed one or more payments may be eligible.

Loan Refinance: If you are a homeowner who is current on your mortgage payments but unable to refinance to a lower interest rate because your home value has decreased, you may be able to refinance.

To see if your home in Idaho Falls qualifies for either of these programs, make sure to visit www.makinghomeaffordable.gov.

Watch this video for stories of people just like you, who found themselves in trouble with their mortgage.
You Tube Video – Getting the Help You Need

If you do not qualify, please call me so that I can explore alternate options with you.

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Posted in Foreclosures, Homes for Sale, Mortgages | No Comments »

Facing Foreclosure??? There is Help for Homeowners In Trouble in Idaho Falls!

Monday, October 26th, 2009

With the recent economic troubles, it is understandable that some homeowners are having trouble making their mortgage payments. There are options out there to help! The WORST thing you can do is NOTHING. The following are some options that you may want to consider:

Refinance Homeowners who are current on their mortgage payments may be able to take advantage of today’s lower rates and refinance their current mortgage via the Home Affordable Refinance, a component of the Making Home Affordable initiative launched in early 2009. For more information on this program you can visit www.makinghomeaffordable.gov
Sell and Bring Cash to Closing Although many people today do not have the necessary cash to pay the deficiencies at closing, they may have assets that they can liquidate to cover the loss. This option enables the homeowner to protect their credit rating.
Lender Workout Lenders will often work with distressed homeowners to help them keep their homes. Some of them may forgive back payments, roll back interest rates, or possibly recast the entire loan and wrap all fees into a new fixed rate mortgage. In order to take advantage of this, you MUST call and talk to your lender. I understand that this is a very personal matter, and sometimes quite embarrassing, but it is in your best interest to contact them and see what they can do for you.
Short Sale A short sale is a situation where a homeowner owes more on their property than is likely to be produced if they sell, and the homeowner is unable to bring the cash to closing to cover the deficit. In a short sale, the bank has not yet foreclosed on the property, but the homeowner is behind in their payments. The homeowner MUST have a hardship which has caused them to fall behind in their payments. Examples of hardships include:

  • Loss of Job or Income
  • Divorce or Death of Spouse
  • Illness and medical costs
  • Natural Disasters

If you believe you may be eligible for a short sale, contact me! I have extensive experience in getting short sales approved. I have worked with many of the national and local banks and have a 100% approval rate in the shorts sales I have done.

Deed in Lieu of Foreclosure A “deed in lieu” occurs when the borrower agrees to trade the property to the lender in exchange for the cancellation of the note.
Foreclosure If you are only weeks away from foreclosure, some of the above options may not be an option for you. My advice is to contact your lender IMMEDIATELY and see if they are willing to entertain any foreclosure alternatives. In a foreclosure, the bank looses too – so their best options is to work with you!
Do Nothing – Walk Away If you are simply unhappy that the value of the property is less that what you paid for it or what you owe, you may need to contact an attorney for advice. This is the worst option and can have a very detrimental affect on your credit.

If you are having trouble making your mortgage payments – remember the WORST option is to DO NOTHING. Please feel free to contact me if I can help you in any way!

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Posted in Foreclosures | 1 Comment »

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