When a foreclosure comes knocking at your door. .

You can't ignore it.

Before you start down this dark track, have you tried approaching your Lender? He probably has no idea that you may be on the path of hardship unable to pay your mortgage payments.

Bank of America has a history of taking homes into foreclosure when you least expect it . . . you need to communicate with them at the moment you are in trouble.


Bank of America in most cases would only be the servicer of your loan, someone else is the owner of your loan. If there is a way for your investor to work out a deal with you, he may be glad of the opportunity.

Most often lenders don't like to foreclose a property... . If there is a way to bring a loan modification/short sale.

One of our strategies we use for our clients is to force the lender in to 'pause' everything while they investigate your personal scenario.

After discounting a loan modification, we introduce compelling evidence that your case maybe best solved by doing a short sale.

This help is a blessing for your financial future as well as your entire family's life. . After all, they depend on your success for the quality of their lives.

One of the main documents required for a short sale approval that Bank of America will need is the HARDSHIP LETTER.

You will need to send a hardship letter using their short sale platform Equator. Do not hold back on this letter, this is your opportunity to ask the bank for consideration and not a chance for you to blame them for your problems.

You also need to send a list of assets and proof of income. The list must show that you have no money, savings or anything that can be liquidated.

If this list of assets indicates that you 'stretched the truth' when applying for the mortgage, you will have to be extra humble! Remember, this Lender is going to lose his money too; you need him to be on your side, so try to understand his point of view.

Helping Your Real Estate Agent Help You. . .

Your real estate agent is there to help you and you should collaborate and strategize with him/her to bring you the best possible outcome.

An experienced agent is a must for the best chance of success. .



. . If your owe more to the bank than what your house is worth.

You are not a homeowner anymore,

You are a mortgage owner

And a short sale could be the escape you are looking for.

Fernando Herboso is a Broker- Owner in Maryland that specializes in helping people in distressed situations

You can contact Fernando at 240-426-5754