Many Spring Hill Florida homeowners that are struggling to keep their homes are looking for answers on loan modifications. I talk to many home owners that are late on their payments and try to get the bank to give them a loan modification. What they do not understand is that they do not qualify getting a loan modification after being late on their mortgage day 30 at midnight.

The banks make homeowners believe that they are going to give a loan modification, called "A Trial Loan Modification" . The very name "Trial" should give some clue that the banks just want to pacify the problem or lie to the homeowner by telling to send partial payments, Always asking for more paperwork and information until its to late and an auction date is set. Spring Hill and Hernando County homeowners do not know that the foreclosure process is still in motion and that the bank will transfer title even though they give the owner hope to get the loan modification. It makes me sick that the average person thinks that they will be in favor with the bank.( Ask yourself), Would you give a friend a loan for $100,000 or $200,000 and your friend defaults on their obligation to pay the loan back. If they asked you if they could pay 1/2 the loan payment per month and stretch the loan out or a reduction in the principle amount because the home has lost 50% to 100% of the equity. Would you give them a "Loan Modification"???

Most would say NO!! Then ask yourself, why would the banks treat you any differently?? Folk's, The bank is not your friend. Strictly a business deal and nothing else. The old saying " NO PAY, No Stay" stands with the mentality of the banks. Its reality. Face it and move on!!

Knowing that you are 100% underwater, a strategic short sale would be a good move and beneficial for the Homeowner. Knowing that if you have a mortgage balance of $200,000 and the market value at $100,000 a $100,000 equity loss, sell the home by short Sale rent for 3 years and buy another home

at market value. Go to www.springhillshortsalesspecialist.com for a short sale calculator to find out if its beneficial to get rid of the bad debt and come out ahead in 3 years.

For more information on Spring Hill Florida Short Sales, call David Heroux at 352.658.1810 or email him at davidherouxhomes@gmail.com.

www.davidherouxsellsfloridahomes.com

David Heroux/Spring Hill FL/Hernando County/Florida/Short Sale Specialist/Agent

David Heroux/Spring Hill FL/Hernando County/Florida/Short Sale Specialist/Agent

David Heroux/Spring Hill FL/Hernando County/Florida/Short Sale Specialist/Agent

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