If you part of these tough economic times and have currently lost a job, your hours were cut back, or have some other hardship it may be time to speak with your lender. When disaster hits some families just shut down and do nothing and this is the worst thing you can do. The more you keep the lines of communication open to your lender the better things are going to be.

If you think you will be able to stay in your home, just not under the current payment structure, then put together a hardship letter letting the bank know what is going on in your life and why you can no longer afford your home.The bank will ask you for supporting document (paystubs, tax returns..etc) so be sure you have all of those documents at your fingertips. 

If you just need to get out of your home because you can't afford it, or are going elsewhere for work and you own more than the home is worth, you may be able to do a short sale. A short sale is when a home sells for less than what is owed on it. If you are thinking about doing a short sale on your home, or would like some assistance with putting together a loan modification package for your lender call Greg Kime today at 313-304-6692