Is a short sale an option for you?
Thursday, June 12th, 2008Sometimes, a Loan Modification is a solution for a borrower who wants to stay in their property. A mortgage pay rate reduction will lower the monthly mortgage payment to a manageable amount. Maybe the payment has not been made for a while, but the borrower can now afford to start making payments again.
The borrower has to qualify again for a loan. The most important factor the bank will check out is your ratios. . .can you afford the monthly payment based on your verifiable income? “Reportable” past income history for the last two years. . . reported.
Contact Fernando for a free consultation to discuss in more detail the Short Sale option for you in Maryland, DC or Virginia
Fernando Herboso
