I recently completed course-work to become a “short sale and foreclosure resource” through the National Association of Realtors. There are many options homeowners can try before it boils down to foreclosure, including: forbearance, short sale, and deed in lieu of foreclosure. The key is to communicate with your lender… they hate it when those they’ve loaned money to stop paying and stop talking.
It is NOT an easy process, so you might consider taking advantage of the help that’s available tomorrow. Tuesday is the final day of the Nashville Save the Dream Tour by the Neighborhood Assistance Corporation of America. Designed to help home owners lower their mortgage payment, this group will be there for you to guide you through the process,
NACA’s historic Save the Dream Tour has been an incredible success with hundreds of thousands participants in thirteen cities. Thousands of homeowners received same day solutions having their mortgage payments permanently reduced by over $500 and many by over $1,000 a month often with interest rates reduced to 3% or 2% and sometimes a principal reduction. NACA has legally binding agreements with all the major lenders / servicers to achieve this. All of NACA’s services are FREE.
Tomorrow (Tuesday, March 9th) at Opryland Hotel. You’ll need to sign up in advance and bring:
a) Pay Stubs (most recent available 30 days)
b) Monthly Mortgage Statement (most recent available)
c) Property Tax Bill (most recent available)
d) Homeowners Insurance Bill (most recent available)