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LegalCornerTM - Foreclosure and Short Sale F.A.Q.'s

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Q.If I am behind on my payments, what options do I have other than a short sale?

A.First you can try to refinance. Second you can request a loan modification (e.g. extension of the term of your loan and/or reduced interest rate). Third, you can request a repayment plan to bring your mortgage current (e.g. for a short time your payments increase). Forth, you can look into bankruptcy. Fifth, you can just let the property be foreclosed.




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