Connecticuts Real Estate Solutions Expert

-Borrowers credit score, if all other bills are paid on time will be affected by only 50 points or so as opposed to 200 points or more if facing foreclosure.

-A homeowner who successfully completes a short sale will be eligible for a Fannie Mae backed mortgage only after 2 years.

-Under the new Making Homes affordable program, borrowers may be eligible to receive up to $1,500 to assist with relocation expenses.

-Realtor commissions and attorney fees are paid by the bank.

-The mortgage is reported to the credit bureaus as “Paid in full, or Settled.”

-The homeowner will have a minimum of 90 (typically up to 180) days per the Making Homes Affordable program to market and sell the home, thus giving them time to save money and relocate.

-Keeping the homeowner in the property is better for communities and the bank. It decreases the chances of vandalism, and the home value is preserved.

-We can typically get any foreclosure sale date extended if the deadline is close.