#Making #Home #Affordable #Program

I have recently been contacted by a friend, and distressed homeowner, who has lost her job, and is having a hard time finding steady work.  She has blown through her savings, and is a couple of months behind on her mortgage payments.  As a friend, and compassinate Realtor, I want to help her.  I have met with her and discussed her options: 1. Short Sale, 2. Foreclsoure, 3. Loan Modification Program ( Which in her case, I'm not sure is feasible)  Her bank has told her that she may qulaify for a loan modification if she compeletes the paper work and sends in $400, which she doesn't have.

In my professional opinion, a Short Sale would be her best option.  However, she has shared with me that she is going to proceed with the loan modification program.  I'm afraid that the $400 was to start the process and not for the completion of the modification process.  Being unemployed, or without steady income, it is my understanding that homeowners will more than likely not qualify for a modification program.  It is also my understanding that the homeowner cannot be more than 30 days late in a 12 month period on their payment.

For more information regarding the 'Making Home Affordable' program, go to: http://rismedia.com/2009-12-15/help-for-homeowners-understanding-the-making-home-affordable-program/ 
Also, confide in a Realtor you trust regarding you options, and for help.

Not in Greenville, SC area?  I can help anyone, anywhere, buy, or sell, property.

"Wisdom becomes knowledge when it is personal experience."
-Unknown

Happy Holidays!!!

Lindsay Saunders, Realtor
864-607-0479
Saunders@kw.com
http://www.greenvillerealestategirl.com/