Dennis C. Fedele
Assoc. BROKER, MBA, MRE, CDPE, Eqtr, 5 Star REO


Making the decision to sell your home is difficult. Facing a potential foreclosure is frightening. There may be options available to avoid foreclosure. The following information is provided to help you identify some options and additional resources to learn more. 

What options might be available to a homeowner to avoid foreclosure?

    Homeowner requests the total amount owed to bring mortgage payments current and pays it. 
Forbearance or Re-payment plan 
    Homeowner negotiates with the mortgage company to allow them to repay back payments over a period of time. 
Sell the Property 
    Homeowner with sufficient equity lists their property with a qualified agent that understands the foreclosure process in their         area. 
Rent the Property 
    Homeowner with a mortgage payment low enough that market rent will allow it to be paid converts their property to a rental. 
Mortgage / Loan Modification 
    Homeowner negotiates with lender to modify the interest on the loan, the principal balance, or any combination of these,             resulting in a lower payment. 
Home Affordable Foreclosure Alternatives Program (HAFA) 
    Homeowner qualifies for HAFA and is offered pre-approved short sale terms and cash incentives for relocation assistance. 
Short Refi 
    Homeowner negotiates with lender to refinance a mortgage for less than what is owed on the property. 
Deed-in-Lieu of Foreclosure 
    Homeowner returns the property to the lender rather than go through the foreclosure process. 
Deed for Lease 
    Homeowner returns the property that is FHA-insured back to the lender and leases the property for a twelve month period. 
    Homeowner with significant equity in his/her property and good credit standing refinances their mortgage. 
    Homeowner with significant non-mortgage debt who is unable to pay these debts or his/her mortgage payment files for               bankruptcy which liquidates assets and/or reorganizes debt to pay back creditors. 
Servicemembers Civil Relief Act (SCRA 303) 
    A member of the military who is experiencing financial distress due to deployment (and can prove entered into debt before         employment) qualifies for temporary relief under this act. 
Homeowners Assistance Program 
    A member of the military or federal employee qualifies for this program which has a variety of assitance programs including         private sales, government purchase, and/or foreclosure assitance. 
Short Sale 
    Homeowner has a financial hardship and qualifies for a sales transaction where the lender is willing to accept the payoff of a       mortgage for less than what is owed. 
Call Dennis 602-908-2136 or email now to schedule a private and confidential consultation.