If your mortgage is underwater. .
Do you qualify for a principal reduction?
First of all . .if your loan is owned FreddieMac or FannieMAe. .THE ANSWER IS NO!~
You can find out if your loan is with either of these lenders by looking up your loan at www.fanniemae.com/loanlookup or www.freddiemac.com/mymortgage
If you are still in. .
then
This is your first step. .
Just reach out to your bank to find out if you may be eligible. The only banks that are participants of this settlement are below with their phone numbers. . if your lender is not listed there. .you do not qualify. If your home was foreclosed by any of these banks during 2008 and 2011, call them to claim your $2000.00
Ally/GMAC: 800-766-4622
Bank of America: 877-488-7814
Citigroup: 866-272-4749
JPMorgan Chase: 866-372-6901
Wells Fargo: 800-288-3212
What if my house is already listed as a short sale, and I'm in the middle of negotiations with my lender right now?
If you already missed one mortgage payment, you do not qualify for this Government Mortgage Settlement and my advice is to continue on with your plans.
If you have NOT missed your mortgage payments and you are seeking for a short sale relief. .you may consider calling your lender to the numbers listed above and ask them specifically. .do you qualify?
Be prepared to wait some time for this.
The Worst Thing You Can Do Is Wait !
Take Action Today!
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Get the facts from a distressed property expert that has the ability to help you avoid a foreclosure by doing a Short Sale today!
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