I had a phone call not too long ago from an individual that is facing a foreclosure 1 month from the phone call. He asked me, "Dan, how do I avoid this foreclosure?"
First of all, you have to understand what a foreclosure is.
Foreclosure is when the bank takes your home. Your home is a collateral to your mortgage. If you fail to pay your mortgage then the bank is going to take your home.
For temporary situations wherein you just lost our job and you can't pay your mortgage, you may give the bank's mitigation department a call to let them know about your financial situation. The bank may be able to work around with it.
For longer situations wherein you haven't paid your mortgage in years, they may have difficulty working with you so you may need to do a Short Sale.
A Short Sale is a sale of real estate in which the net proceeds from selling the property will fall short of the debts secured by liens against the property. In this case, if all lien holders agree to accept less than the amount owed on the debt, a sale of the property can be accomplished.
If you want to know more, I’m happy to help you out. Send me an email at Dan@greetingsvirginia.com or call me at 703-562-1788 and I’ll be glad to answer specific questions for you.
Access The Knowledge Database
Discover why Northern Virginia is a hotspot for high-paying jobs in tech, government, and defense. Explore the booming job market and top industries attracting professionals to the region.
Smart home technology is evolving fast, offering better security, energy efficiency, and convenience. From AI-powered assistants to smart appliances, here’s what you need to know to upgrade your home in 2025.
Taxes play a crucial role in real estate, impacting both buyers and sellers. From capital gains to property taxes, understanding these obligations can help you make informed financial decisions.
From farm-to-table gems to international hotspots, Northern Virginia’s food scene is packed with must-try spots. Here’s where to find the best bites.
Stay ahead of the market! This quarterly update on Northern Virginia real estate covers home prices, interest rates, seller strategies, and investment opportunities.
Selling a home in Northern Virginia? Avoid these three costly mistakes that can delay your sale, reduce your profits, or turn away potential buyers. From overpricing to neglecting repairs, knowing what to avoid can make your home-selling experience smooth and profitable.
Investing in multi-family properties in Northern Virginia offers a strong potential for long-term returns. Whether you're a first-time investor or looking to expand your portfolio, understanding the local market, financing options, and management strategies is key to success.
A home inspection isn’t just a formality—it’s a crucial step in protecting your investment. From uncovering hidden issues to giving you negotiation power, it ensures you make a confident and informed purchase
Discover how technology is transforming Northern Virginia’s real estate market. From AI-powered searches to blockchain transactions, learn the latest digital tools for smarter buying, selling, and investing.
Northern Virginia’s real estate market is always shifting. Learn how to analyze trends, predict growth, and make smart investment decisions.