Behind on your Mortgage? You have options.

Avoiding Foreclosure: A Step by Step Guide to Loan Modifications, Short Sales, and Deeds in Lieu

Now Available on Amazon in paperback and e-book.

If you’re facing foreclosure, especially if your house is worth less than you owe, you can feel trapped and hopeless, but you are not alone.

Whether you’re struggling to keep up with your mortgage, you’re behind on your payments, or you’re actively facing a foreclosure, you should know that you have options. There are several paths forward to keep your house and continue making payments, and there are also several paths forward to leave the house and settle the debt. This book discusses many options, but focuses on the three that can be the most involved and difficult to navigate on your own.

This book is written as step by step guide to obtaining a loan modification, a short sale approval, or a transfer by deed in lieu of foreclosure. This guide can help any attorneys, paralegals, or realtors looking to get into this area, but can also help homeowners looking to attempt it on their own.

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There is no substitute for experienced professional advice, and there are many legal consequences and tax consequences to any of these options. This book is the result of a a decade of real estate experience, but every state has different laws and every situation is unique. This book is not legal advice or tax advice. You should always consult with a professional before finalizing any foreclosure avoidance option.

A Wealth of Experience

Following the 2008 Financial Crisis, there was a flood of new foreclosures. Most lenders developed robust processes for handling massive amount of loss mitigation options (loan modifications, short sales, deeds in lieu). In that time, Attorney Ryan has helped hundreds of homeowners who were facing foreclosure, whether they were about to miss their first payment, or if they were weeks away from losing their home.

The Step by Step Guide

Each bank has their own process, but they are largely the same. The guide addresses how to start the process with the general application, hardship determination and financial review for all three options. The book then breaks into separate sections for how to deal with each of the three options.

Beyond the Process

In addition to a detailed explanation for each step of the process, there is also general advice for dealing with lenders, dealing with different types of homeowners, troubleshooting and frequent scenarios, as well as a collection of anecdotes discussing some of the most extreme and bizarre scenarios.

Contact: PRyan {at} PeterRyanLaw {dot} com