Nashville, TN Foreclosure Prevention

If you are behind on your mortgage, don't feel alone.  

Foreclosure prevention is more than paying your mortgage on time.  Many people have been living paycheck to paycheck for several years.  As the economy turned south and unemployment numbers rose, their savings was used to bridge the income shortage.  Adult children have been forced to move back home placing a burden on families as well as their personal lives. 

Numbers vary greatly on how many people are in default.  The term default can mean anything from one delayed payment to the day of a foreclosure sale.  

Best Real Estate Advisors works to meet the clients needs.  Sometimes the need can be short term by delaying a foreclosure sale while options are evaluated.  Other times, the client already knows and understands the situation in detail.  They just need a plan to rid themselves of the property.  It's out position to provide guidance, create the plan of action and see the plan from start to finish.

Here is a list of items that you will need to start working on a plan of action.

1.  3rd Party Authorization

2.  Hardship Letter

3.  A Mortgage Statement for each loan 

4.  Last Two Bank Statements

5.  Last Two Pay Stubs.  If paid weekly/bi-weekly etc - must have two

6.  2009 Taxes - SIGN PAGE 2

7.  2010 Taxes - SIGN PAGE 2

8.  IRS Form 4506T

9.  Making Home Affordable RMA Form

10.  Dodd Frank Certification Form

11.  Homeowners Insurance Declaration Page                                                

12.  If self employed, YTD P&L statements will be required              

This package is used to attempt a Mortgage Loan Modification.  If the modification is denied, then the package is reworked for a short sale.      

If your behind on your mortgage, call Bob Sorey to discuss all your options.