Skip to main content
#
StopForeclosuresInTX.com
Conroe, The Woodlands, Spring Foreclosure and Short Sale Information
How To Stop The Foreclosure Process
Effects Of Foreclosure
Avoid Foreclosure
What Is A Short Sale?
Short Sale vs. Foreclosure
Qualifying Process for a Short Sale
Learn About Short Sales
Frequently Asked Questions
Glossary Of Terms
FAQ
What The First Step In The Short Sale Process
Qualifying for a Short Sale and Avoiding Foreclosure
Home Evaluation
Getting Started
Our Blog
Distressed Property Experts
Disclaimer
Laura Bolieu Austin
Laura Bolieu Austin - 281-798-2911
Frequently Asked Questions 
  • I've missed a few mortgage payments, what will happen?
    Your home may undergo the foreclosure process, but there are ways for you to prevent this from happening.


  • What should I do once I'm behind on my mortgage payments?
    Don't wait, get help early! By actively working to resolve the issue as soon as possible, you greatly increase your chances of avoiding the loss of your home through foreclosure. If you even see the possibility of missing a payment, contact your lender and explain your financial situation. This act of initial contact, before letters of delinquency arrive, will help your lender understand that you are facing issues that impede your payments, providing your lender an incentive to find a proper "work out" resolution, or to begin modifications to your loan.


  • What is a "work out" resolution?
    Commonly, the term "work out" resolution is an agreement where you continue making payments on your past due amount over a period of time, or a modification to your loan to lower your interest rate, or an extension loan period that will help lower your payments.


  • I am in the foreclosure process, should I stay in my home or leave?
    You should contact your attorney to determine the best course of action. Abandoning your property may have severe negative consequences on your qualification for assistance.


  • Do you have any other advice?
    Always be wary of potential scams. Any person or company offering a solution that sounds overly optimistic may be trying to take advantage of you during your time of financial troubles. Some warning signals of a scammer include anyone who charges a fee before any services are completed.


  • Why would my lender rather help me stay in my home than foreclose?
    There are several reasons your lender may be interested in other options than foreclosure. Most times, the lender will take substantial financial losses, on average $50,000, from a home foreclosure. Mortgage companies are not interested in owning and selling homes.


  • How common is foreclosure?
    Unfortunately, foreclosures are becoming more common and happen to many Americans. Although the number of foreclosure filings vary from state to state, and even from one financial quarter to the next, the number of filings nationally in 2008 was 3.1 million for 2.3 billion U.S. properties. This is an 81% increase from 2007 and represents 1 in 54 housing units in America having received at least one foreclosure filing during 2008.


Brought to you by:
Laura Bolieu Austin
Broker / Owner

ABR, CDPE, CDRS, CSSBR, CHMS, CSP, CPRES, SRES, GRI, MCNE, SFR, TAHS, TRLS
Certified New Home Buyer's Representative

TREC Instructor # 3569

REALTY TEXAS LCA, Inc.
945 Sgt. Ed Holcomb Blvd. S  Conroe, TX 77304
Office: 936-321-2977
Cell: 281-798-2911
Fax: 866-347-2911

Email



Copyright© 2009- Pro Step Marketing, All Rights Reserved.

Disclaimer: The information provided on this website should not be constituted as legal advice. The content is intended to provide general information about the short sale and foreclosure processes, and should not be acted upon without the counsel of a qualified REALTOR®, attorney, and tax expert.

Texas Real Estate Commission Information About Brokerage Services

Texas Real Estate Commission Consumer Protection Notice

Site Powered By
    prostepmarketing.com
    Online web site design