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Facing foreclosure? What are your options?

 



It is a difficult time, stressful and almost unbearable at times. First of all, I want to share with you a Word of Encouragement. This "season" in your life will pass and you will come out of it. It may not be easy but you will make it somehow. People always do.

So, you may have an extenuating financial hardship right now... You may have lost your job, and it has been difficult to find a new one. You may be going through a divorce and it is challenging to lose that income. You could be facing bankruptcy, have medical debt, IRS liens, or significant debts that are taking your financial household down.

Your financial troubles on your home begins when you miss your 1st mortgage payment. However, it may be the 2nd or 3rd payment before the lender makes an effort to contact you. My advice is to contact the Lender as soon as you can to document this hardship in your file.

Each person's financial situation is different. Each person's circumstances and solutions are different. Hence, contact me as soon as you can to discuss all possible options for you.

Some of the possible options may be:

  • Make up late payments
  • Loan modification (to include late payments)
  • Short sale (Selling the property for less than the mortgage balance. Requires lender's approval)
  • Deed in lieu of foreclosure (Giving back the property to the lender instead of the foreclosure process. May be liable to deficit.)
  • Renting the home

 

After losing a home is devastating. But the sooner you seek options available to you, the sooner we can resolve this. If you imagine that the options are "fender bender" collision in your credit, foreclosure would be like a head-on collision.

Contact me for your possible options on your greater Frisco TX home today. We will work this together. I have real estate experiences on both sides of the fences, working with both buyers and sellers in this process. Thus, I am able to assist.

 

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Loreena Yeo - Realtor(R) in Frisco TX | Broker
M.Sc, B.Sc
Direct (214) 783-2210
Fax (214) 231-9018
Email Me Here

>> Learn about Loreena

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3:16 team REALTY
is a proud Member
of Frisco TX Chamber of Commerce

   

 

Loreena Yeo is the broker of record of
3:16 team REALTY to practice real estate in Frisco & surrounding cities (State of Texas). Texas Real Estate Broker License Number #9001154.

CLIENT TESTIMONIALS

Read about what our satisfied clients have to say:

When she arrived for our appointment, we went through the normal preliminary procedures and all was fine. Then she surprised us. She had already done most of the work and only needed to take a few pictures of the inside and determine the price that we would be comfortable asking. She also spent a great deal of time explaining to us how the whole sales process work and what we could expect.

Eric & Tomoko Quere, Plano TX

 

Ultimately, Loreena introduced us to the house we bought--it was not one we found from our own hours of searching web listings--based on the the comments we had made while we visited these different homes. This is a testimony to her ability to listen well and to work proactively on our behalf.

Jenn & Glen Miller, Denton TX

We were completely impressed with Loreena. She helped us find and buy a home in Frisco. We have very high expectations from a realtor and she surpassed them. Knows her market extremely well, not just the technical market pricing data, but the nuances of all the neighborhoods as well. One of the most responsive and professional persons I've met in my entire business career.

Ruth & Jerry Meek, Frisco TX

I just want to thank you again for your help in selling our house. In this tough economy and market, I really didn't expect to get an offer. But you counseled me so well in pricing the house to sell and yet not letting me accept an offer that was too low. I believe we got the best deal we could have. I was so pleased and surprised with what we walked away with.

Sally & Phillip Barnard, Frisco TX

 


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