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For Loan Modification Seekers, There are Often Better Options

For homeowners facing foreclosure, there are a lot of powerful emotions at play. A loan modification, changing the original terms of the loan, can represent an attractive option because it allows the homeowner to stay in their home.

FOR IMMEDIATE RELEASE

 
PRLog (Press Release) - Aug. 25, 2012 - For homeowners facing foreclosure, there are a lot of powerful emotions at play. A loan modification, changing the original terms of the loan, can represent an attractive option because it allows the homeowner to stay in their home.

There are some truths about loan mods, however, that many homeowners don’t know. “According to studies done by the Department of Housing and Urban Development,” says Jason Nadler, CDPE Keller Williams Realty “over half of the people who get a loan modification end up re-defaulting within 6 months.” This coupled with the increasing difficulty in obtaining a loan mod means that they are often not an ideal solution for everyone.

“In reality, a loan modification works for people in a very specific set of circumstances. They are people who are normally financially stable, but that have found themselves with a temporary problem that is threatening their home,” said Nadler.  Job loss or unexpected illnesses are the most common temporary issues that arise. For homeowners who know that their situation will be fixed in the near future, a loan modification makes sense.

For most people in danger of losing their home, however, these circumstances don’t apply. Their financial issues are often larger and beyond the scope of what a bank will consider for a loan modification. For those homeowners, it is important that they are educated on their options.

As a Certified Distressed Property Expert (CDPE), Jason Nadler has intimate knowledge about the many foreclosure alternatives that are available. A Certified Distressed Property Expert (CDPE) is knowledgeable of the entire landscape of foreclosure avoidance options and is distinctly qualified to negotiate with banks and help struggling homeowners regain peace of mind and a sense of stability for the future.

Jason Nadler has developed a free report entitled, “Loan Modification Secrets,” which is accessible from his website, http://www.scarabproperties.com
The report provides a thorough rundown of all of the ways that a short sale is more beneficial to homeowners than foreclosure.

About
Jason Nadler, Keller Williams Realty brings a broad and unique professional skill set in both business management and short sale negotiations. Utilizing his legal education and short sale experience, he has had a successful history in building client relationships and business productivity in the Real Estate Industry since 2007.

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Contact Email:
***@scarabproperty.com Email Verified
Source:Jason Nadler
City/Town:Palm Harbor - Florida - United States
Industry:Real Estate
Tags:short sale, foreclosure, foreclosure help
Shortcut:prlog.org/11958948
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