Was Your Short Sale Rejected? Do You Owe More Than Your House Is Worth?

Posted by Justin McHood on August 27th, 2008

Have you tried to sell your home in a short sale, but were unsuccessful in getting the lender to accept the offer?

Have you tried to refinance your home, but currently owe more than it is worth and as a result, were turned down?

Have you missed a few mortgage payments and as a result have a credit score that currently won’t allow you to qualify for a loan?

You are not alone, we talk to many of you each day and we tell many of you that there is one last option left — Loan Modification.  We have talked about the concept of loan modification before (more than once), but here is a video that does a nice job of sharing one person’s experience:

<NOTE: for some reason, this video was taken down, it was a newsclip at WBAY in Green Bay about one person’s loan modification experience.  I will keep trying to see if I can find it and re-post it.>

Is loan modification right for you?

It is for sure worth a try to get on the phone and try yourself first — because if you are successful, you have only invested your personal time.  The story that we get from the people that we talk with every day though is that the vast majority of them are unsuccessful when they approach their lender, so they quickly go find help.

And while there are many companies popping up who claim to help borrowers get their loan modified, we personally recommend LoanSafe.org if you find yourself in this situation.  Call us if we can be of help pointing you in the right direction or explaining more about the process.



August 27, 2008 | Filed Under Loan Modification 

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One Response to “Was Your Short Sale Rejected? Do You Owe More Than Your House Is Worth?”

  1. Loan Modifications - Beware : Arizona Mortgage Team :: Arizona. Mortgage. Experts. on September 5th, 2008

    [...] we have mentioned before, we currently recommend people to one loan modification company and do not get involved other than [...]

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