Loudoun to Winchester VA - I know a guy that wiped out 300k in mortgage debt. I'll call him Tom. The name and some of the details have been changed to protect his privacy.

Tom owed a lot of money on his house. He owed 600k on a first mortgage and then another 300k on a second mortgage.

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Tom's income dropped dramatically. He almost lost his home. He finally got a new job and was able to pay the first mortgage payment.

Because they were close to foreclosing, he found a way to pay them. But, he didn't have enough money to pay the second mortgage.

So Tom didn't pay the second mortgage. He was doing everything he could to save his home. The second mortgage called Tom a lot.

"If you don't pay us, then we will file for foreclosure", they would say. Twelve months went by and no one filed for foreclosure.

Tom was quite surprised. "I had no idea when the sheriff was going to come out and kick us out", Tom told me. We told him that most second mortgages never file for foreclosure.

Here is why they hardly ever do. In a foreclosure, the first mortgage gets paid off before the second mortgage gets a dime.

In Tom's case, his home's value had dropped below the 600k he owed to his first mortgage. This meant that if the second mortgage did foreclose, then they would only lose more money.

That is not a winning business proposition. We also told Tom that he could probably settle with his second mortgage for five to ten cents on the dollar.

That means he can eventually settle for $10,000 to $20,000. We first talked to him over a year ago. Today, Tom still hasn't made a single payment on his second mortgage.

He has caught up all the payments on his first mortgage. In addition, he has been able to get back on his feet financially.

He expects that he will settle with the second mortgage in a year or two. The first priority is getting all his other finances completely in order.

This story illustrates that you are not doomed. Many people owe more than their home is worth. They are able to short sale and get rid of the debt.

Or, they can use creative strategies like this to reduce the level of debt. You can get your finances back in order with a little work and time.

Thinking about a loan modification?Our Loudoun to Winchester loan modification kit will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at cindygreenya@gmail.com to request a Free Copy.

Or, click here to request a copy.

Thinking about a short sale? I can help you short sale your property so you can move on with your life. Send me an e-mail at cindygreenya@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 703-795-5904

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thanks for reading this, Cindy Greenya.

Cindy is a Real Estate Agent at EXIT Realty Talbot & Company. Loudoun to Winchester Short Sales Realtor:

Phone: 703-795-5904. cindygreenya@gmail.com.

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View My homes for sale at www.Loudoun2Winchester.com.

Cindy Greenya specializes in loan modification assistance and short sales in Loudoun Virginia. Loudoun Loan Modification Help, Loudoun Short Sales. Loudoun Short Sale Realtor. Winchester VA Loan Modification Help, Winchester VA Short Sales. Winchester VA Short Sale Realtor. Berryville VA Loan Modification Help, Berryville VA Short Sales. Berryville VA Short Sale Realtor. Round Hill VA Loan Modification Help, Round Hill VA Short Sales. Round Hill VA Short Sale Realtor. Purcellville VA Loan Modification Help, Purcellville VA Short Sales. Purcellville VA Short Sale Realtor. Loudoun to Winchester VA Short Sales. Loudoun to Winchester Realtor.



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Important Notice

Cindy Greenya, EXIT Realty Talbot & Company, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Greenya's personal views and do not reflect the views of EXIT Realty Talbot & Company.

This information on Loudoun to Winchester Loan Modification Success Story: Man Wipes Out 300k In Mortgage Debt is provided as a courtesy to our viewers to help them make informed decisions.