Mortgage Relief

Gallagher & Lindsey is pleased to present our Mortgage Relief Resources. For over forty years we’ve been a name you can trust and our main focus has always been to help our clients reach their goals—whether they be financial, creative or personal. That’s why we’re proud to introduce these mortgage relief resources to help you stay in the home you love.

If you’re considering a loan modification you’ll need to contact your lender directly. Governor Arnold Schwarzenegger signed Senate Bill 94 (Calderon) which prohibits any person, including real estate licensees and lawyers, from demanding, charging, or collecting an advance fee from a consumer for loan modification or mortgage loan forbearance services. This law went into effect as of 10/11/2009.

Loan Modifications

If your primary goal is to keep your property, and you have had a change in your financials since you purchased the house and/or your loan will re-set to a higher payment, a loan modification may be the right program for you.

Here are some recent loan modifications:

Short Sales

For sellers in default and unable to make their mortgage payments, a short sale might be the right alternative. A short sale in real estate is when the bank that owns the mortgage agrees to accept an amount that is “short” of the full amount due on the loan home thus allowing the owner to avoid foreclosure. The Obama administration recently passed FAP (Foreclosure Alternatives Program) which gives sellers and buyers in a short sale $1,500 each to help with relocation expenses. It also delays the foreclosure process by stating that no foreclosure may take place during the marketing period of a short sale for at least 90 days. If considering a short sale, we can help.

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