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Struggling with mortgage payments? You do have options!

Times are tough these days. You may be struggling to make your mortgage payments or can be in danger of falling behind on what you owe, but there are options to avoid a foreclosure judgment, which can impact you and your credit for 7-10 years.

It’s called Loss Mitigation. Did you know that you can sell your house, even if you owe more than what it’s worth? You can emerge from your underwater mortgage, receive relocation assistance, and have your deficiency judgment waived, if you qualify.

“If you plan to walk away from your home, you can be represented in negotiating and finalizing a Short Sale or Deed-In-Lieu. Loss Mitigation options offer the advantage of your attorney working with your lender directly. You don’t have to be behind in your payments to qualify, but if you are or have a pending foreclosure action, it will be dismissed once the Short Sale or Deed in Lieu is completed.”

When your lender agrees to take less than what you owe on the unpaid balance, it is considered a short sale, which benefits both the homeowner and the lender, thus avoiding a Foreclosure judgment against you. It is critical that while you’re going through the Short Sale process, that you are represented by an experienced Foreclosure Defense lawyer. An attorney can apply for, and submit, all of the necessary documents to your lender on your behalf, list your property for sale and work with your lender in negotiating the short sale contract.

You may also consider additional choices, such as mortgage modifications, if you intend to keep your home. An experienced loss mitigation attorney can help you figure out your best options. When you work with the Law Firm of Eleni Noble Zarbalas, they will inform you of your best options to keep or sell your home. They will be there for you every step of the way.

Contact Eleni today to find out how you can work towards the best resolution of your current home situation.

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