Were You Notified Your Loan Is In Default?

You may have been notified that your loan balance has been accelerated and is immediately due and payable in full. What does that mean to you and your financial well-being? Your loan may be referred to an attorney and/or trustee to foreclose. As allowed by the terms of your Mortgage/Security Instrument (your mortgage trust deed) and any applicable law, you have the right to reinstate your loan after acceleration and the right to bring a court action, or to otherwise assert in a foreclosure proceeding, the nonexistence of a default or any other defense you may have to the acceleration of the loan and the sale of the property. The conditions and deadlines which you must meet to reinstate your loan are contained in your Mortgage/Security Instrument. There are alternatives to foreclosure. If you would like to discuss those options, please call us at (407) 927-0640. Additionally, the Department of Housing and Urban Development has approved various agencies to offer a home ownership counseling service. A list of the agencies for your area may be obtained by calling 800-569-4287. You may also find information regarding assistance at the Department of Housing and Urban Development site www.hud.gov. In addition to various home retention plans (such as a repayment plan or modification of your loan}, there are other options available. If you are not interested in retaining ownership of the property but are interested in being fully or partially relieved of your mortgage debt, you may consider a Short Sale or Deed in Lieu of Foreclosure. If the only lien against the property is this mortgage or if other lienholders are willing to release their lien, you may want to contact our office to see if either of these is a viable alternative for you.

Short Sale A Short Sale occurs when you and your lender agree to allow your property to be sold for less than the amount required to repay the full balance of your mortgage loan. There may be some incentives in proceeding with a Short Sale: * The negative effect to your credit score may be less than with a foreclosure * You may continue to live in the property while you are selling it * You may qualify for a Relocation Assistance Program

Deed in Lieu of Foreclosure A Deed in Lieu of Foreclosure is a voluntary transfer of the property to satisfy the loan debt and avoid foreclosure.

For further information, you may contact Alex Hernandez at the address below or call (407) 927-0640 Monday Friday 8:00 a.m. until 6:00 p.m. Eastern Standard Time.

RealStock Realty 2151 Consulate Drive Suite 15 Orlando, FL 32837 (407) 927-0640 www.OrlandoRealEstateSite.com