600 Franklin Blvd, Ste 1A                                            

                Somerset, NJ  08873                                               

                     (732) 377-3719

    Email: wsa-broker@comcast.net

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Our Listings

Our Associates

Selling a Home

Buying a home

Client Testimonials

Facing Foreclosure

Short Sales

What happens when you

 miss a mortgage payment?

You may lose your home!

 When your mortgage payment becomes delinquent, the lender/servicer can foreclose on your property. If this occurs, you must move out of your home and the property will be sold.  In addition to losing your home, you may owe a deficiency balance, which is the difference between the price the lender/servicer sells your home for and the balance on your mortgage loan

What should you do now to avoid losing your home?How can a train

• Read all correspondence from your lender/servicer
• Contact your lender/servicer and explain your situation
• Talk to Wayne Sellers, a trained Loss Mitigation Consultant

What type of assistance is available to me?

By using an affiliated attorney, we  can provide you with information to help you:

• Bring your mortgage current
• Complete the financial papers your servicer requires*
• Modify  your mortgage loan*
• Sell your home and relocate

We can also work with you to:

• Evaluate your financial position
• Identify problems and solutions
• Explore your alternatives to foreclosure

Options are available to help you avoid foreclosure.

Your lender/servicer requires a complete financial package to assess your situation

REINSTATE

Special Forbearance.

If you have recently experienced an unexpected change in income or expenses, you may qualify for a special forbearance.  Your lender/servicer can arrange a repayment plan based on your individual financial situation. More Details

Mortgage Modification/Partial Claim

If your income continues at a reduced level, you may qualify for a mortgage modification. More Details

RELOCATE

Pre-Sale/Short-Sale.

If you don't have the ability to reinstate or refinance your loan, your servicer may allow you time to sell your home without going through foreclosure. More Details

Dee-in-lieu of foreclosure

Your last option to avoid foreclosure is to voluntarily give your home back to the servicer. More Details

*Services provided through affiliation with local attorney

	Special Forbearance - is a written repayment agreement between a lender and mortgagor which contains a plan to reinstate a loan that has been delinquent for at least 90 days. . You may qualify for this if you have recently lost your job or your source of income or if you had an unexpected increase in living expenses. You must furnish information to your mortgage company to show that you would be able to meet the requirements of the new payment plan.  You must have a solid reason for default and documentation to support your claim.
	Mortgage Modification - You may be able to refinance the debt and/or extend the term of your mortgage loan. This may help you catch up by reducing the monthly payments to a more affordable level. You may qualify if you have recovered from a financial problem but your net income is less than it was before the default (failure to pay).
	Partial Claim - Your mortgage company may be able to work with you to obtain an interest-free loan from HUD to bring your mortgage current. You may qualify if:   Your loan is at least 4 months delinquent but no more than 12 months delinquent Your mortgage is not in foreclosure You are able to begin making full mortgage payments. When your mortgage company files a Partial Claim, HUD will pay your mortgage company the amount necessary to bring your mortgage current. You must execute a Promissory Note, and a Lien will be placed on your property until the Promissory Note is paid in full. The Promissory Note is interest-free and will be due if you sell or leave your property, or when your mortgage matures.
	Selling Prior To Foreclosure - This will allow you to sell your property and pay off your mortgage loan for less than you owe, to avoid foreclosure and damage to your credit rating. You may qualify if:   The "as is" appraised value is at least 70% of the amount you owe and the sales price is 95% of the appraised value The loan is at least 2 months delinquent prior to the pre- foreclosure sale closing date You are able to sell your house within 3 to 5 months (depending on what your mortgage company agrees to). An additional benefit to this option is the assistance you will receive with the Seller-paid closing costs.
	Deed-In-Lieu Of Foreclosure - As a last resort, you may be able to voluntarily "give back" your property to the mortgage company. This won't save your house, but it will help your chances of getting another mortgage loan in the future. You can qualify if: you are in default and don't qualify for any of the other options; your attempts at selling the house before foreclosure were unsuccessful; and you don't have another mortgage in default

*Services provided through affiliation with local attorney

600 Franklin Boulevard

Suite 1A

Somerset, NJ  08873

Office: (732) 377-3719  Fax: (732) 377-3725

Cell: (732) 763-9144