How to Decide On Loan Modification or Other Choices
This is Howard A. Printz, I’m a license California Real Estate Broker, providing loan modification services to those individuals that own homes at California only who are looking for a company that will treat them fairly and will charge them a fee that may be considered within reason. Today’s video is entitled How To Decide on Loan Modification or Other Choices, and what other choices are they? Well, if you want to stay in your home, a loan modification will be the thing that you’re want to do first. If for some reason the loan modification does not go and the bank does not agree to doing a loan modification with you, then the other choices you might have might be to sell the home and do a short pay off. A short pay off is nothing more than the bank taking less for your home and less for the loans that are currently on the property. Another recourse could be to just do deed in lieu for a closure. A deed in lieu for a closure would be just giving back the home to the bank, but a lot of times banks do not wanna do deeds in lieu for closure. The other possibility might be, and it is not recommended quite frankly is to just let the home go. If you let the home go, you go into foreclosure, you’ll have a certain amount of time to stay in the home before it finally goes back to the bank, but that is not a recommended solution. So in essence, those are the choices that you have, I end all my videos with the same information, if you think that you would be a candidate for a loan modification, please go to my website at www.modifytheloans.com, or call me at 866-652-3221 to discuss your situation and to see whether or not you can qualify for a loan modification. Thank you very much for going to my video and have a great, great day.