Questions on using a Forbearance Agreement
Can I avoid Foreclosure on my Irvine home by using a Forbearance Agreement?
Is Using a Forbearance Agreement To Avoid foreclosure An Option I Can Use?
Yes, you should look at a Forbearance Agreement as an option to avoid Foreclosure on your Irvine home.
FORBEARANCE AGREEMENT – An agreement between a mortgage company and a borrower in which the borrower promises to stay current on the mortgage going forward and agrees to a repayment plan for delinquent payments and costs and fees associated with the foreclosure action. A Forbearance Agreement is a tool that allows the borrower to keep the property.
The lender will expect you to show that the delinquency was due to circumstances out of your control (injury, illness, job loss) and that the financial difficulties have been corrected.
If you have more questions on this topic you might want to take a look at www.ochomehelp.com
OCHomehelp.com is a team of Orange County Short Sale and Foreclosure Specialist’s. They are comprised of a team of real estate agents, loan modification experts, short sale specialists, attorneys, and title officers.
This might be a good place for you to start if you are confused or scared. They offer a free and 100% confident consultations.
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