Hello DG family. Continuing on with luck on my 800 phone number I had this caller call in yesterday and she stated that she is one month behind and doesn't want to wait until the last minute so she is looking for some options before the possible foreclosure. She has not yet received a notice of default. I have learned a lot through Dean's teachings about helping an owner during preforeclosure process, but not much info comes to mind on making sure that the foreclosure doesn't take place if the owner is not willing to use our services... Are there any options that the owner can consider taking advantage of through their lender? All responses are greatly appreciated.



Many more details are needed to give a definitive answer to your question.

1- Why has the owner fallen behind? (lost job, divorce, health issues etc.)

2- Does owner have consistent income to cover future payments?

3- Does the owner want to continue to live at that property?

4- Is the owner upside down on the mortgage?

5- Is there any equity in the property?

6- Which lender?

The most obvious resource with the current lender is to refinance at a lower rate if only 1 month late. But if she is calling you at this stage, it possible that she upside down or does not have consistent income. More details will yield a better answer. Hope this helps...

Thomas & TJ

Thanks for the input you guys. Very nice, informative site, Thomas. TJ I will be sure to get those questions answered-something to arm myself with for tomorrows convo.

Help With Short Sale

I recently met a person who want to sell his house because of divorce. He would not mind doing short sale because he owns more on the house than it is worth. He does not want to do Lease Option. Any advise? I would appreciate it. Thanks

Thank you all.

I do have one quick question, is it possible to refinance once someone is current, but after they come out of a deliquent situation? If so, does the owner have to wait a while so the bank can see they are consistently performing? Also, what would be needed to refinance?

12-24 months

Generally a bank wants to see 12-24 months minimum with no late payments before they'll consider refinancing. Subject to other factors such as credit score, DTI ratios, employment and cash reserves in the bank to name a few.

- Tom

Thanks Tom

That's on the line of what I was thinking.


Hi my name is Amer,i need help with this?

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