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Sometimes we find ourselves in difficult situations that cause us to get behind on mortgage payments.  They may be serious medical problems, job loss, marital issues, or any one of a host of hardships, and it can be overwhelming when you begin receiving PAST DUE notices from the Lender.  If you are in that situation, below are ten tips to consider.

1Don’t Go At It Alone – Contact your Real Estate Agent or Attorney.  Do your research, but get professional help.

2. Don’t “3rd Party” Your Property – This “Subject To” investor strategy can be a scam!  Always check with your Real Estate Agent or an Attorney before you sign this kind of transaction.

3. Don’t Sell Yourself Short –  Watch out for the “Cash For Your House” deals.  Investors don’t always have your best interest in mind; after all they’re in business to make money.  You will likely get a better sales price by selling through a Real Estate brokerage. 

4. Don’t Take Items From The House – It’s not worth committing a crime by destroying carpet, walls, or selling kitchen cabinets and light fixtures for a quick buck.  Lenders can and will prosecute.

5. Don’t Ignore Your Options – Ignoring the problem will certainly not help solve it!  Consider ALL of your options (loan modifications, short sale) with your Real Estate Agent.

6. Don’t Shout At Your Lender – It may feel good to release some steam, but it won’t help.  Its best to be professional and courteous.

7. Don’t Over Pay Fees – Loan modifications cost about $3,000.  Some agents will charge roughly $500 in “Upfront Short Sale fees” to cover marketing materials and paperwork (we charge nothing).  If you are quoted more than this, look elsewhere. 

8. Don’t Hire Just Anyone! – Find out what experience your Agent and Brokerage has in Short Sales.  As a Certified Distressed Property Experts (CDPE), we are fully trained to walk you through a successful transaction.

9. Don’t Get Discouraged – It takes some time to save your home, salvage your credit, or  begin again at investing in your future. 

10. Don’t Give Up – This is not the end.  You are not alone!  You have options!  Start taking the proper steps to fix your mortgage problems!

I hope this list informs and encourages you about your situation.  If you need help or are considering representation and would like more information about your specific circumstances, please contact Ruben Vera directly at or through either of the two websites listed below.  Thank you. – Property Search Website – Real Estate Blog


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