Foreclosure & short sale help
Facing Foreclosure? You Don’t Have to Figure It Out Alone.
Falling behind on a mortgage is stressful. John offers a confidential, no-pressure conversation so you can understand the options that may be open to you.
First steps
Three calls worth making early.
Talk with your lender
Ask what options they offer. The sooner you ask, the more choices there may be.
Call a HUD-approved housing counselor
These counselors are trained to help homeowners and are often free or low cost. Find one at hud.gov.
Ask an attorney or tax advisor
Foreclosure has legal and tax consequences. Respond to any legal notices you receive, because deadlines can be short.
Your options
Common paths, in plain English.
Which of these fit depends on your loan, your lender, and what your home is worth.
Work with your lender
Call your mortgage servicer and ask about loss-mitigation options. A loan modification changes your loan terms to make payments more manageable.
Good to know: Your lender decides what is available, and approval is not guaranteed. John is not a lender or loan servicer.
Forbearance or a repayment plan
A forbearance pauses or lowers payments for a set time. A repayment plan spreads missed payments over later months.
Good to know: You usually still owe the missed amount later. Ask your lender how it would work.
Sell the home the traditional way
If the home is worth more than you owe, selling on the open market before a foreclosure sale may let you keep any remaining equity.
Good to know: Timing matters. John can review the market and what a sale would involve.
Short sale
In a short sale, your lender agrees to accept less than you owe so the home can be sold.
Good to know: The lender must approve it, and terms and timing are up to them. You may still owe the difference unless the lender agrees otherwise in writing.
Deed in lieu of foreclosure
You give the property back to the lender voluntarily to settle the loan.
Good to know: Not every lender offers it, and the tax and credit effects vary. Ask an attorney or tax advisor first.
Cash offer through John’s investor network
An investor may buy the home as-is, which can be faster and need fewer repairs.
Good to know: The price may be lower than on the open market. John does not buy homes himself.
How John can help
The real estate side, explained clearly.
- Estimate what your home may sell for
- Explain what selling, a short sale, or a cash offer would involve
- Represent you in the real estate transaction if you choose to sell
- Connect you with investors in his network, if you want that option
Outcomes vary
John cannot promise to stop a foreclosure, get a lender’s approval, or protect your credit. Outcomes, timelines, deficiency exposure (money you may still owe), and tax consequences vary from one situation to the next. John J. Mauro is not an attorney or a financial, tax, or credit advisor and cannot give legal, tax, or financial advice.
Confidential consultation
Start with a private conversation.
Share as much or as little as you like. John will call you, keep it confidential, and won’t pressure you.
If your home is currently listed with another broker, please disregard this invitation.
Ready to talk it through?
A first conversation is free, confidential, and comes with no obligation.