Most lenders already will tell you they do not agree with broad based principle forgiveness.

Many Las Vegas homeowners hold onto the hope of getting a Las Vegas Loan Modification that will lower their payment to a monthly fee they can afford, and some do get that, but what many don’t realize is that most of them will still owe the original amount of their loan (the amount they borrowed to purchase the home), the lender may have just given them a temporary loan modification and then in 2-5 years, they end up right back at the large payment again and possible still underwater on the total loan balance. 

Hopefully, for them maybe their job situation may change for the better so that they can go back to paying those high mortgage payments, but many, many will not be so lucky.

Many will wait months to find out the lender denies their loan modification or that their payment will only be lowered by a few hundred dollars.  For many, that is of no help.  This is the point were many will need to turn to doing a Las Vegas Short Sale in order to hopefully avoid foreclosure and get out from under those huge mortgage payments.

Click here….to see the video from CNBC…Foreclosures to Mount so says Chase–Principle Forgiveness on Las Vegas Loan Modifications Not Likely

Las Vegas Short Sale Agent Realtor® Dawn Barrier*Short Sale Help*Las Vegas

(702) 812-4550

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Las Vegas Loan Modification -Chase-Principle Forgiveness on Las Vegas Loan Modifications Not Likely

A loan modification is where a loan’s payment plan is changed, due to the hardship of the borrower (homeowner).

This usually may include changes to the rate, the term and the monthly payment amounts.

The purpose is to Help the HOMEOWNER STAY in their home at an AFFORDABLE mortgage payment.

Getting a Loan Modification negociated, processed and approved (restructured) is not a short process.

It REQUIRES time, effort,  patience and complete honesty and cooperation of you the borrower and the lender.

You MUST be able to prove to your lender that you can and will be able to make your new “modified” mortgage payment.
If you can’t or won’t be able to make them, you may want to consider doing a short sale on the home.

More about Las Vegas Loan Modification

Short Sale info

Feel free to email or call me if you have any questions.

What does a hardship mean ?

For a Loan Modification or Short Sale a hardship is something that has had an impact on your ability to pay your mortgage payment.

Examples of what can be a hardship….

Loss of job

Paycut

Divorce

Adjustable rate payment has gone up

Can’t refinance due to home values dropping

These are a just a few.  If you have a question on if your situation is a hardship, just email or call us and we will see if we can help you.

Dawn Barrier Home Retetion Consultant Services

Are you behind on your mortgage payments?

Do you want to avoid foreclosure?

Selling your home for less than what is owed is an alternative to foreclosure.

Do you owe more on your home than what it would sell for?

Have you lost your job and won’t be able to make your mortgage payments?

Do you have an adjustable mortgage and your payments have sky rocked above what you can afford?

Are you are going thru a divorce?

Then call me and we will discuss if your home can be listed as a short sale.

What is a Short Sale?

A Short Sale is when a lender agrees to accept LESS than the total amount due on the mortgage you owe, so the home can be sold to another person.

How do we do a short sale?

First step is You need to call me now (702) 812-4550 and we will go over the details to see if your home can be Listed on the market for sale (as a short sale) and we explain and handle all the bank negotiations for you.

(702) 812-4550

I’m here to Help You NOW. . .

Would you prefer to try and STAY in your Home? Then read our section on Loan Modification and if you would like our help give us a call.

The Mortgage Forgiveness Debt Relief Act and Debt Cancellation