Foreclosure help =[?

Question

Alright so these people down my street they are in danger of foreclosure. They have helped us Alot and my cousin and i wanna help them get out of it because the guy i like lives in the back house and they are all forclosured. how can we help them and is it possible!?

Answer 1

Chances are that since they are behind in their payments and equities are down,they could not refinance to lower their payments leaving them in the same predicament of failure to make further payments.The best way to help them is for them to contact a Realtor and sell it in a short sale.That way they will only owe tax on the difference of the principal minus the sales price on the short sale.Money wise if you help them do not expect to get it back because they will probably have to file bankruptcy.Best of luck to you in this difficult time.

Answer 2

If you want to help them the only way they would be able to save the house is through a loan modification.  I am a loan modification advisor and my team of attorneys will fight with the bank on there behalf to chancge the terms of the loan to make it affordable.  This is there only optionright now and we can save the house this way.  If you want further information send me an email