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New San Jose Short Sales Announces Ways to Avoid Home Foreclosures
New San Jose Short Sales Announces Ways to Avoid Home Foreclosures
New San Jose Short Sales announces various ways to avoid home foreclosures by educating home buyers. This company has many programs which can help home buyers in tough situations.
San Mateo,
CA,
United States of America
(prbd.net)
06/12/2010
CALIFORNIA, San Jose (November 2010) – New San Jose Short Sales announces various ways to avoid home foreclosures by educating home buyers. This company has many programs which can help home buyers in tough situations.
One way to avoid San Jose foreclosures is to short sell the family home. The short sale program offered by New San Jose Short Sales company is one way to help struggling home owners. This program is designed for home owners behind on mortgage payments. By working with the current mortgage company and a real estate company, the house may be able to be sold for less than the principal balance. This is the basic element of a short sale, but the mortgage company must agree to the contract sale price.
Another way to avoid San Jose foreclosures is to look towards the government for assistance. Many government programs exist to help struggling home owners pay their current monthly mortgage and keep their house. These state and federal government housing assistance programs can help home owners who are in arrears become caught up on monthly mortgage payments. There are special requirements and considerations, but New San Jose Short Sales can assist in this process.
Refinancing is yet another option to avoiding foreclosures in San Jose, but with the current value of homes this may not be an option for many. Refinancing a house involves renegotiating the mortgage terms and interest rates. Although interest rates are currently lower than before, the value of homes has declined. In order for a refinancing option to go through, the value of the home must be equal to or more than the current principal balance. Unfortunately, many homes do not meet this requirement.
Loan modifications are another avenue for home owners. This modification can be completed through the mortgage company. The mortgage company will require the home owner to complete a financial package which will include all financial data in reference to salary and home value and principal amount. The loan may be renegotiated to help owners afford the monthly mortgage amount while keeping ones home. This way San Jose resident may avoid foreclosure which can have negative effects on a familys life, not to mention a persons credit history.
New San Jose Short Sales is a company which offers assistance with viable options for home owners who are trying to steer clear of foreclosures. This company provides the expert knowledge necessary to guide home owners through this difficult process.
Contact:
New San Jose Short Sales
www.newsanjoseshortsales.com