Should I Short Sale?

If you’re upside down on your home or investment property and can no longer afford the payments we’ll help you save it or avoid foreclosure through free government refinance, loan modification and short sale programs.

Whether you seek to save your home or investment through a HAMP loan modification or HARP 2.0 Gov’t refinance opportunity or just move on to what’s next and short sell your property to avoid a foreclosure sale, you’ll find information here that will help you immensely.

How to Get Free Loan Modification?

A loan modification program will help borrowers who are in danger of losing their homes to foreclosure. This same program will also help those who have had difficulties refinancing their home to a lower rate. There are many non-profit organizations who are helping homeowners to get Free Loan Modification.

A Loan Modification is when a lender agrees to modify any or some of the terms of the mortgage, making it more affordable for you. A Loan Modification will give you a fresh start, bringing your mortgage up to date after capitalizing any delinquent interest, escrow, fees, and other costs based on investor guidelines. Acting quickly should be your number one priority. This is accomplished by either 1) Reducing or modifying the interest rate, 2) Extending the term of the loan, 3) Changing the monthly payments.

HAMP Program – Home Affordable Modification Program:  The Home Affordable Modification Program, also known as HAMP, is a federal program of the United States, set up to help eligible home owners with loan modifications.

HARP Program – Home Affordable Refinance Program:  Home Affordable Refinance Program (HARP Program) is designed to assist homeowners in refinancing their mortgages.

NACA Home Save – Neighborhood Assistance Corporation of America:  NACA’s HomeSave Program is nationally recognized as the most effective in providing affordable solutions for homeowners with an unaffordable mortgage. They are the largest such organization providing such solutions nationwide. All of NACA’s services are FREE.

Short Sale:   A short sale occurs when a property is sold at a price below the outstanding loan balance. However, the lender must agree to accept the proceeds from the sale as payment for the loan and, if possible, write off the remaining balance as a loss. Homeowners may qualify for a short sale once all other options to avoid foreclosure have been tried.

HAFA Program – Home Affordable Foreclosure Alternative Program:  Foreclosure Alternatives (HAFA) Program offers homeowners, their mortgage servicers, and investors an incentive for completing a short sale or deed-in-lieu of foreclosure.  With these options, under HAFA, a homeowner leaves their home to transition to more affordable housing and alleviate the mortgage debt they owe.

Forbearance:   If you’re unable to make mortgage payments on a temporary basis, ask your bank about a forbearance plan. Sometimes a bank will reduce or freeze monthly mortgage payments, giving you time to get back on your feet. Call your bank for details.

Deed in Lieu of Foreclosure:  Some banks will allow you to sign over title to your house in exchange for halting judicial foreclosure proceedings.  Often any loan deficiency is forgiven. However, a deed-in-lieu only works when there is no second or equity loan. Most lenders will also require you to attempt a Short Sale first.  Also take into account that a deed-in-lieu is still categorized as a foreclosure.  Call your bank and/or attorney for specifics.

Do you know anyone that’s Upside down on their mortgage? We have the training and expertise to help financially distressed homeowners make a positive fresh start.

My new eBook “Should I Short Sale My Home?”  ($30 value) has just been released, and can help anyone you care about that’s faced with an unmanageable mortgage. Get this new eBook for FREE (for a limited time), by completing the form below…


Phone Number

Short Sale now?


We have the training and expertise to help financially distressed homeowners. As a certified Short Sale Advisor, we can help anyone faced with an unmanageable mortgage and advise them on the possibility of a short sale. If you have any questions, please contact me.

Andre Bowdry, Broker

Keller Williams TEAM Realty

800 E. Northwest Hwy, Suite 200

Palatine, IL  60074

(630) 537-0707

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