Are You Behind on Your Mortgage Payment in Bryan or College Station, Tx?

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Are You Behind on Your Mortgage Payment in Bryan or College Station, Tx?

Are you behind on your mortgage payments? Do you know someone in Bryan or College Station, Tx who is? Do you know what happens next?

Since going through a foreclosure is one of the most traumatic things that can happen with a family, outside death or illness, if this can be prevented let’s choose THAT option!

Bank of America has published a Home Transition Guide to help provide specific instructions on how to go through the process.

Remember if you are behind on your payments you have several options –

  • Make up your payments
  • Loan Modification through the lender
  • Short Sale so you can get out from under the house payment
  • Deed in Lieu of Foreclosure so you can give the house back to the bank without having a foreclosure
  • Foreclosure, Eviction and Relocation

Over the next few weeks I will be amending this post and adding links for each of the above topics. I will also be posting ideas and plans for homeowners to consider. My one request is… PLEASE don’t wait until the bank starts calling. If you find you are going to miss a house payment CALL ME and let me help you communicate with the bank and figure out if a loan modification or short sale is an option. The last thing you want is to get behind in your payments, not be able to catch up, have the house foreclosed, be evicted from the house, and then after you lose the home…. owe INCOME TAXES ON THE BANK’s LOSS!!!!!

Last week I had someone call saying they purchased a home, lost their job, lost the home to foreclosure, ruined their credit for years and thought it was all over.  NO! Now they have received a letter stating they had a loan guaranteed by the federal government and now they STILL OWE $58,000 MORE. If they had $58,000 they would have made their house payments. If they cannot pay the $58,000 this debt will be reported to the IRS and is now a federal lien which will not go away.  If they had gone through the Short Sale process rather than the foreclosure process this could have been avoided. So, Don’t Wait if you are behind in your payments!!!


Susan Hilton



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