Homeowner Information

Shapiro, Swertfeger & Hasty, LLP understands that many homeowners have experienced financial difficulties.  We recognize that these difficulties may have caused homeowners to default on the terms of their mortgage loan.  Our hope is that they may be able to find a mutually agreeable work-out plan that fits both their needs and that of their lender.  Some options that homeowners facing foreclosure may wish to consider include:

    ♦     Reinstatement, which requires that the homeowner pay the amount of the arrears on the mortgage loan to bring it current.

    ♦     Repayment Plan, which permits the homeowner to repay the amount in arrears on the mortgage loan on a monthly payment plan while resuming his/her
            regularly scheduled monthly payments.

    ♦     Loan Modification, which changes one or more of the terms of the mortgage loan in an attempt to make it more affordable for the homeowner.

    ♦     Short Sale, where the lender agrees to allow the homeowner to sell the home to a third party for less than the amount of the mortgage loan currently
            owed.

For additional information, please visit our "Terminology Links" page or contact Shapiro, Swertfeger & Hasty, LLP.  Time is of the essence.  Therefore, homeowners wishing to speak to someone about any of these options should not delay!