Short Sales

If your property is "upside down" in that you owe more to your mortgage lender then your property is currently worth, then you may qualify for a short sale. In a short sale the current lender or mortgage holder allows the sale of the property for a lesser amount then what is owed to it in exchange for all of the sale proceeds resulting from that sale, less the ordinary and customary closing costs. Whether or not the lender agrees to accept these sale proceeds as full satisfaction of the underlying debt depends on each lender and the specifics of the transaction. Some of the factors considered by a lender in deciding whether to approve or disapprove a short sale include the following: market value of the property, costs of foreclosing, carrying costs if the lender forecloses, financial hardship of the borrower and the inability of the borrower to pay the deficiency at closing. To find out more about the short sale process click here.

Loan Modification

If you are having difficulties meeting your financial obligations with your lender, you may qualify for a loan modification. Most lenders are cooperating with their borrowers in reviewing the terms of the borrower's existing loan in conjunction with the borrower's current financial circumstances to determine if the borrower may qualify for either a temporary or permanent modification to the terms of that loan. The crux of any loan modification is a change in circumstance otherwise known as a "hardship". In order to qualify for a loan modification a borrower must demonstrate that there has been some change in circumstance or hardship that has occurred that renders it impossible for the borrower to meet his/her financial obligations. This change in circumstance or hardship can be in the form of either increased expenses or decreased income. Either way, the borrower must demonstrate to the lender that he/she can no longer afford to pay his/her mortgage payment at the current amount. To find out more about loan modifications and to see if you are eligible click here.

Repayment Plan

If you are able to afford your current payment and looking to just get "caught up" your lender may offer a repayment plan. This will take your arrearage and divide it over a period of time and add the additional amount to your current payments.


Chapter 13 and Chapter 7 Bankruptcy can assist clients who may not qualify for traditional modifications or have other significant debt that is currently dragging them down. These will allow the homeowner to stay in the home and provide an alternative route with a modification will not work.

Foreclosure Defense

If you have already been served with a foreclosure lawsuit you can fight back. By defending a foreclosure lawsuit a borrower can buy precious time to successfully negotiate a loan modification, short sale, deed in lieu of foreclosure, and/or file for bankruptcy. Sometimes, time can make the difference between saving and losing your property. Defending a foreclosure action can buy you that time. To find out more about Foreclosure Defense and to see if one of the Attorneys in our network might be of assistance click here.

Deed in Lieu of Foreclosure

If you can no longer afford your property and you are facing the prospect of foreclosure, your lender may agree to accept a Deed in Lieu of Foreclosure. A Deed in Lieu of Foreclosure is a conveyance of the subject property from the property owner to the current mortgage holder. The conveyance is done to avoid foreclosure proceedings. Like a short sale, whether or not the mortgage holder agrees to accept the Deed in Lieu of Foreclosure as full satisfaction of the underlying debt depends on each lender and the specifics of the transaction. Not all properties will qualify for a Deed in Lieu of Foreclosure. If there exists any liens or judgments recorded against the property owner or the property or if the property is encumbered by a second mortgage, then the property will not qualify for a Deed in Lieu of Foreclosure.