HOMEOWNER OPTIONS                                                                  

Homeowners who are struggling with their mortgage payments do have options.  Below is a list of the other options available to them.  Unfortunately, these options come with a multitude of drawbacks.

Loan Modification

    -  Banks don't want to modify
    -  94% of modification request are denied
    -  It takes forever to get an answer
    -  Banks lose paperwork and constantly request new documents
    -  Banks have a financial incentive to NOT modify
    -  Banks misappropriated funds to be used for the HAMP program
    -  Banks don't do principal reductions
    -  This is a very frustrating process

Bring Your Loan Current

    -  Still stuck with the same loan
    -  No relief on the mortgage payments
    -  Very expensive

Refinance

    -  Need 20% equity
    -  Need a 700+ FICO
    -  Very difficult (if not impossible) to qualify

Short Sale

    -  You lose your home
    -  Still are responsible for high realtor commission

Foreclosure

    -  You lose your home
    -  Your credit is ruined

Mortgage Litigation is the only real answer!