Avoid Foreclosure

Are You On The Verge Of Missing A Mortgage Payment? or Are You A Few Months Behind On Your Mortgage?

Has your situation changed and threatening the security of your home? Now is the time to act. Don't make the mistake of waiting till it's too late. Foreclosure is not your only option. An often overlooked resource in helping home owners avoid foreclosure is a Licensed Real Estate Professional. As licensed Realtor® we have undergone extensive training aimed at helping our clents avaoid foreclosure. When we enter into an agreement with a client we are obligated by law to represent our client's best interest not only in selling and buying real estate but also in assisting them with all thier real estate needs. The real estate professionals at The Franklin Homes Sales Team are trained and experienced Foreclosure experts.

Our goal is to assist Franklin TN and Brentwood TN home owners to achieve the best outcome possible for thier financial situation. Our greatest joy is helping a struggling home owner to keep thier home.  Contact us today for a free confidential foreclosure prevention consultation.  We are experienced at helping home owners navigate thier way through the loss mitigation process.

There are many options available that we can help you with. Depending on your circumstances we can help you;

1. Negotiate a satisfactory resolution with the Lender to help you stay in  your home.
2. Negotiate a foreberance agreement on your behalf.
3. Attain a Loan modification for you.
4. If you are no longer able to afford your home and there is no other alternative short sale agreement with your lender will be your last option to avaoid foreclosure. We are experienced at negotiating short sale agreements with lenders.

You Will Need To Establish Your Hardship With The Lender.

Document your hardship Lenders want to hear in your own words why you are having trouble making loan payments. Tell the Lender why tou are experiencing trouble and what you would like to see happen. You can always be sure of one thing, If you don't ask for it you will not get it.

Document your Financial Situation Lenders will want you to complete a loss mitigation package which will include documenting your income or lack there of. Providing bank statements and tax returns.

9 Tips to Avoid Foreclosure 1. Don't ignore the Situation. The more you fall behind, the harder it will be to reinstate your loan and the fewer the options will be that are available to help you. 2. Call your lender when you realize you have a problem. Mortgage Lenders are in the business of financing homes - They do not want your house. They will go to every length to help home owners resolve a delinquancy issue and help them through through difficult financial times.   3. Respond to your lender's calls or letters. The first notices you receive will offer good information about foreclosure prevention options that can help you weather financial problems.  Later mail may include important notice of pending legal action.  Your failure to open the mail will not be an excuse in foreclosure court. 4. Know your mortgage rights. Find your loan documents and read them so you know what your lender may do if you can't make your payments.  Learn about the foreclosure laws and timeframes in Tennessee by contacting the Tennessee Housing Authority.   5. Understand foreclosure prevention options. Every Lender has a set of options that were put in place when you established your loan which dictate what they can and cannot do. Don't be afraid to ask for help. There are many community organizations setup specifically to help home owners in trouble. 6. Prioritize your spending. After healthcare, keeping your house should be your first priority.  Review your finances and see where you can cut spending in order to make your mortgage payment.  Look for optional expenses-cable TV, memberships, entertainment-that you can eliminate. Delay payments on credit cards and other "unsecured" debt until you have paid your mortgage. 7. Use your assets.   Do you have assets-a second car, jewelry, a whole life insurance policy-that you can sell for cash to help reinstate your loan? Can anyone in your household get an extra job to bring in additional income?  Even if these efforts don't significantly increase your available cash or your income, they demonstrate to your lender that you are willing to make sacrifices to keep your home.   8. Avoid foreclosure prevention companies. You don't need to pay fees for foreclosure prevention help-use that money to pay the mortgage instead. Many for-profit companies will contact you promising to negotiate with your lender.  While these may be legitimate businesses, they will charge you a hefty fee (often two or three month's mortgage payment) 9. Don't lose your house to foreclosure recovery scams! If any firm claims they can stop your foreclosure immediately if you sign a document appointing them to act on your behalf, you may well be signing over the title to your property and becoming a renter in your own home!  Never sign a legal document without reading and understanding all the terms and getting professional advice from an attorney, or a trusted real estate professional.