Avoid Foreclosure on Your Las Cruces Home
YOU HAVE OPTIONS!

Worried About Making Mortgage Payments?  We Can Help!

If you are one of the many homeowners today who may be having trouble making your mortgage payments, you are not alone. You do not have to lose your home to foreclosure.

You are not alone, and solutions to your problems are available. The Evelyn Bruder Team has worked with many homeowners in your situation and has helped them find alternatives in order to avoid the foreclosure process, save their credit status and preserve their financial future.

Around the country many homeowners have chosen to "walk away," and just plain default on their home loan. Though it may seem a simple solution, you face significant financial risks associated with decision.  You DON'T have to do this!

The two most common and sucessful options to avoid foreclosure are Short Sales and government Programs.

• Short Sale
  If you owe more on your property than it is currently worth, by negotiation with your lender you can sell the property for a price less than you owe and consider this as satisfying  your debt. This a common solution.  The Short Sale process.

• Government Home Owner Assistance Programs
  The rising number of foreclosures in this country is simply too big to ignore. That is why a number of government-backed program have been created that aim to streamline foreclosure avoidance options. Available Government Programs.

  
  

  Even More Options!

  The following solutions to the foreclosure process, are less commonly used because homeowners are generally not in a financial position to use them.  A personal Consultation about your financial situation would be necessary. A list of these additional methods to avoid foreclosure with a simple explanation is below.

  1. Reinstatement
  Pay the amount due and your mortgage can be reinstated up until the day of foreclosure.
  
  2. Refinance
  If you have sufficient equity in your property and good credit, you may be able to refinance your mortgage.
  
  3. Forbearance or Repayment Plan
  A forbearance or repayment plan involves negotiating with the mortgage company to repay missed back payments over a certain period of time.
  
  4. Deed in Lieu of Foreclosure
  "Friendly foreclosure,” a deed in lieu allows you to return the property to the lender rather than go through the foreclosure process.
  
  5. Bankruptsy
  Using bankruptcy as a foreclosure solution requires you have non-mortgage debts that cause you to be unable to pay your mortgage this may be a viable solution.But, it is the worst of the options.
  
  6. Sell the Property
  If you have sufficient equity in your home, you can list the property with a qualified agent who understands the foreclosure process.
  
  7. Rent the Property
     If your mortgage payment is low enough that market rent will cover it, consider converting your property to a rental and use the income to pay the mortgage.
  8. Loan Modification
     A loan modification is when your lender modifies your current mortgage to achieve a payment to an amount that you can afford. This saves the lender from having to go through the  foreclosure process. You can negotiate a  lowering your interest rate, reducing your mortgage loan balance, forgiving past due payments and delinquency fees, and extending the term of loan.
  
  

Contact us to learn about your Foreclosure Options.
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You should always feel free to call Evelyn personally at 575-650-7224
or email evelyn@homeslascruces.com

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