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From the category archives:

FAQ

Phoenix Loan Modification Questions: Do I Have To Be Late With My Mortgage Payments?

August 31, 2009

I am current with my mortgage payments, but not for long. Do I have to be late with my mortgage payments to get a loan modification? No, you do not have to be late with your mortgage payments to get a loan modification. That being said, we have had better, and faster, results with loan [...]

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Phoenix Loan Modification Questions: What About The Hardship?

August 28, 2009

What type of hardship do I need to be facing to qualify for a loan modification? This is a pretty common question. Hardships, and their severity, can vary greatly. The most common are health, wealth, and family needs. Health – Family member gets sick, medical bills, can’t work because of medical issue, etc. Wealth – [...]

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Phoenix Loan Modifcation Questions: Can I Do My Own Loan Modification?

August 27, 2009

Can I do my own loan modification? Absolutely! Just be aware of what you are getting yourself into. Just like selling your own home, it is possible, but you won’t see as dramatic of results as if you had hired us. We have heard stories of homeowners spending 6 months negotiating with their lender only [...]

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Phoenix Loan Modification Questions: How Long Does A Loan Modification Take?

August 26, 2009

How long does it take to complete a loan modification? The loan modification process isn’t a short and easy one. Our loan modifications typically take between 4 and 6 months, similar to a short sale. This time line can vary greatly though based on a number of things: Who is negotiating your loan modification? – [...]

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Phoenix Short Sale Questions: What Is A Short Sale?

August 12, 2009

This question comes up a lot. The old joke is “Why do they call it a short sale if it takes so long?” The name short sale actually has nothing to do with the time line. It just means that the bank (or other lien holders) is going to accept less then what is owed [...]

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Phoenix Short Sale Questions: When Should I Start The Short Sale Process?

July 29, 2009

Unfortunately, many people wait too long before they start the short sale process. We can delay the foreclosure sale (once 30 minutes before the scheduled sale) but it is always more beneficial to give us as much time as possible to complete the process. Your best bet: Call us as soon as you need to [...]

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Phoenix Short Sale Questions: How Long Until The Bank Forecloses On My Home?

July 28, 2009

Many people are afraid that if they start missing payments on their mortgage while doing a short sale (or a loan modification) that the bank will come and foreclose right away. Fortunately, that is not quite the case. The bank has the right to file the Notice of Default (NOD) in as little as 30 [...]

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