Sell Home Owner
www.sellhomeowner.com (800) 824-8122
Avoid Foreclosure in Portland
Homeowners in deepest need continue to struggle, despite the new housing bailout plan set into
action last month. Though there are some people who will be able to avoid foreclosure,
thousands more will be stuck in home loans they can no longer afford to pay. Particularly
vulnerable are those who have 80/20 loans. These loans amount to an automatic first and second
loan on the property making access to the housing bailout money even more complicated.
For these homeowners and others like them, a short sale may be their best option. A short sale
simply means that a house is sold for less than the value of the loan amount. However, this is not
the type of debt negotiation you want to try yourself and you certainly don’t want to hire an
unqualified negotiator, either.
Some are seeking help via debt negotiation specialists. An experienced debt negotiation
specialist can help a homeowner with what is known as a “short sale”. A short sale simply
means that a house is sold for less than the value of
the loan amount. Banks are willing to consider this
option when other alternatives have failed. Debt
negotiation specialists, such as licensed mortgage
brokers, have strong relationships with lenders and
can often work with both the homeowner and bank to
reach an agreement that benefits both parties.
It is important to seek out a firm with experience that can represent your best interests. These
firms do not charge the seller any fees, which gives a homeowner with a large debt burden the
opportunity to immediately engage their services. It is also worth noting that a realtor does not
need to be a part of the proceedings. And by eliminating the need for their services, the
associated fee is also removed. There are also other fees such as closing and moving costs that
can be reduced or eliminated, dependent upon the particular case.
“If you are upside down in your mortgage or have 80/20 financing a