We Can Help

 If you are having a hard time making your mortgage payment we can help. Are you:

• Behind on your mortgage?
• Getting letters and phone calls from your bank?
• Borrowing money to pay your mortgage?
• Unsure of your options?

At Prudential Locations we understand how factors beyond anybody’s control can hurt your credit and reduce the equity in your home. It’s not your fault. Current market conditions have adversely affected the equity thousands of people just like you have in their homes. If your bills are mounting and you think you might have trouble making your mortgage payments, now is the time to get help. Don’t let all your years of hard work be erased by a few short weeks of inaction or indecision. 

Honolulu Short Sales On The Rise

Oahu Short Sales on the Rise

Top 5 Mistakes

What Not To Do

Common Mistakes To Avoid If You Fall Behind On Your Mortgage

Unfortunatley, there are unscrupulous people and businesses that will take advantage of you in this situation even though you are protected by law. Typically, they will try to rush you into selling your property to them at a greatly reduced rate, or deeding your property to them.

Mistake 1: Deeding Your Property To A Third Party

Unless you are absolutely certain your loan has been paid off in full, DO NOT ever deed your property to a third party.

•  When you deed your property to a third party they control it. Among other things this means they can rent it out and keep the rental payments, sell the property for a profit, or move into the property whenever they choose.
• The main point is you may still be liable for the mortgage payments and there is nothing to guarantee that the new owner will make those payments on your behalf.
• You are still responsible for the mortgage loan even if you no longer own the property. The lender made the loan to you, and by law you will be primarily responsible for the mortgage obligation until it is paid off in full.
• Your credit, not the owners, is at risk if you give up control of the property and the new owner does not make the mortgage payments.
• We strongly suggest you consult with your own attorney before you pursue this option.

  Mistake 2: Being Rushed Into Selling Your Home At A Huge Loss

  Even if you only have a month and a half before foreclosure, you can still explore the options we have outlined. Don’t sell your property to somebody until you have explored all the courses of action available to you.

  Mistake 3: Letting The Buyer Deal Directly With Your Lender.

  The lower the price the buyer negotiates with your lender, the better off they are. That doesn’t necessarily mean you will be better off. You have no control over what information they will give your lender, or what kind of position you will be left in if their offer falls through. In addition to proposing a discounted payoff the potential buyer could drag the negotiations out to the point that if they ultimately decide not to buy your property, you will have very little time to resolve the situation and avoid foreclosure.

  We strongly suggest you consult your own attorney and preferably a real estate professional before you pursue this option.

  Mistake 4: Being Pressured Into Paying Fees Upfront.

  Until your transaction is completed you do not have to, nor should you, pay a single penny. Period. Fees will be paid by lender when the deal closes.

  Mistake 5: Doing nothing.

  We cannot stress this strongly enough: in many cases you can avoid foreclosure and the damage it will do to your credit. Please take a little time to explore your options and protect all your years of hard work.