Realstate

You need to initiate a "request for loss mitigation" by calling the mortgage company and requesting it. You will need to fill out an application and provide hardship information. You will be given a choice of solutions at the end of the application. Once of those is for a short sale and another for a deed in lieu of foreclosure. Submit the packet and all requested documentation ASAP. At the same time this is going on, locate a realtor with experience in short sales. There are very few short sales now because the value of real estate went way up since 2020. You may not have to do a short sale, a sale for market value may pay off the mortgage and the costs of sale plus get you some money to help you get a new place to live. In my experience, you only need an attorney if the process drags out a long time and an actual foreclosure action is filed against you. If you start the loss mitigation process before you get too far behind, no foreclosure case will be filed. If you are served with legal papers, contact an attorney. Keep very good notes of what you are told by the mortgage company - date and time of the call, who you spoke to and what they said for every call during the process. Keep a copy of your loss mitigation packet. Mail it in by certified mail and keep the tracking number. Keep all letters you receive from the mortgage company.