FAQs
Here are some quick answers to some commonly asked questions regarding foreclosure. If you cannot find an answer to your question, please feel free to contact us by clicking here. A: A short sale is the sale of real property where the fair market sale price is less than the loan balance.
A: The short answer: Yes, you can choose to walk away from your obligations. The reality is you do have better options and choosing to walk away should never be one of them. Typically, for those who have decided to run away, they can expect the worse case scenario in terms of damage to credit rating. This could impact ability to secure a place to rent or even finding or maintaining employment.
A: A procedure whereby a loans payment plan is altered due to the hardship of the borrower. This can include the rate, term and monthly payment amounts.
A: A court-ordered foreclosure. The lender must first file and win a lawsuit to foreclose
A: It is where you loan balance exceeds the market value of your home?
A: Short of paying the balance of the loan due, you must renegotiate the loan terms with your lender. This will require submission of certain documention.
Q: How will Hubbard Companies help me? A: You will have someone who can coach you through the process at no cost to you. If you decide to sell, we will not only help you to prepare the short sale documents, we offer you fair market value for your home.