Stonehouse Property Solutions

Richmond, TX, 77407 | 832-463-1651

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Real Estate Help When You Need It

SELL PROPERTY NOW

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SELL PROPERTY NOW

First Name
Last Name
E-mail
Phone
Alternate Phone
Baths
Zip Code
Address
State
Beds
Additional Comments

Tell us about the property you are selling

832 463 1651

Loan Modification

The best way to stay in (not sell) a home that you want to keep long term may be a loan modification. This involves a lender modifying your payments so that you can afford to keep making them. The modification could include lowering the interest rate so that the payment is lower, or even adjusting the principle balance on the loan.


Advantages and Disadvantages


The advantage of a loan modification is that it can make an unaffordable loan affordable.


The disadvantage of a loan modification is that, based on our observations, most of the time the homeowner pursues these, they are ultimately not approved, or almost certainly not approved in a way in which it is helpful enough for the homeowner to stay in the home. In other words, most of the time it does not work and the result is foreclosure. We call this the "loan modification merry-go round".


In a typical scenario, a homeowner will hire an expert to negotiate the modification. Please carefully research any company that offers this service for a fee. Usually the homeowner will be told to stop making payments

during the negotiation. At this point the lender will tell the homeowner that a modification is being considered. Unfortunately, based on our observations, most of the time the modification is ultimately denied (just before a foreclosure) and the homeowner is not able to make up all of the late payments and significant interest, penalties, and legal fees, and thus the result is a foreclosure.


The types of modifications that have a higher success rate involve converting an adjustable rate loan to a fixed rate loan or pushing out the interest rate adjustment for a couple of years. The types of modifications that have a lower success rate involve reducing the principal balance on the loan. Because many homes are so far underwater that a workable loan modification are usually not achieved.


Loan Modifications rarely work. Before exploring this option, make sure you talk to a real estate professional about all of your options!

How does this process work?


Step 1 - Complete the Sell Your House form online or call our office at 832-463-1651


Step 2 - We will prepare one or more offers and quickly call you back to review and/or schedule a time to meet


Step 3 - Choose the offer you like or say "No thanks!" No pressure, no obligation!


That's it!



Our Guarantee


Stonehouse Property Solutions is uniquely different from other real estate solutions providers. Contact us and we guarantee the following:

1. We will always make you an immediate cash offer

2. We will also make you some creative offers that may be more beneficial to your situation and timeframe

3. We will also offer to list your home, with one of our affiliate agents, with our purchase offer as a back-up

4. Our offers are no-pressure, no-obligation

for houses
in any condition
832 463 1651

STOP FORECLOSURE!

Don’s lose your home and credit!


Our goal is to help you avoid foreclosure and save your credit. We will help you to find the best possible Solution.



For free Consultation call: (832) 463-1651.

WE BUY HOUSES
 REALTORS CAN’T SELL