Saturday, April 19, 2008

Stop Foreclosure in Los Angeles

Foreclosure fraud is growing by leaps-and-bounds! It's important you are working with a real estate professional in Los Angeles who can help you sell your home. There are many things you can do first as a homeowner even if you haven't paid your mortgage payment for many months and a Notice of Default has been filed on title.

First, contact the lenders on title and explain to them your financial situation. They will ask you to provide some documentation (bank statement, pay-stub, etc...) to determine what can be done to lower your monthly payment.

Second, contact a Realtor in the San Fernando Valley who will provide a free comparable market analysis of your home. This will help you understand what your home is worth and how much equity you will have. If you owe more than your home's value, you will have to sell your home short with the lender taking the loss. Keep in mind to work with a Short Sale Specialist.

Third, contact a senior loan officer who maybe able to refinance you to a lower-priced loan with affordable payments. Be sure you are working with a professional mortgage broker. I have a preferred list of people I can recommend, call me.

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