Many Americans are struggling with the downturn in the economy. Millions are struggling to remain current with their mortgage payments. Job loss? Pay reduction? Increased living expenses? Rest assured, you are not alone. In recent months, the government has implemented programs that offer assistance to the distressed homeowner which may help to keep you in your home or avoid foreclosure. Keep in mind that while the government has offered incentives to lenders that participate, it is not  mandated that the lender offer you relief under one or more of the programs.


HAMP - Home Affordable Modification Program. This is a program that has been created by our government to give eligible homeowners the opportunity to modify their mortgages in  order to make them more affordable.  If you qualify, this program can dramatically decrease your monthly payments and allow you to keep your home.
HARP - Home Affordable Refinance Program. This program gives homeowners who’s mortgage is owned or guaranteed by Fannie Mae or Freddie Mac the opportunity to refinance their mortgage in order to make their monthly payments more affordable.
      * If you think you may qualify, please contact one of the resources provided. *


A foreclosure can have the most damaging effect to your credit.  There are alternatives. If you do not qualify or have been denied a loan modification, a short sale or deed-in-lieu of foreclosure may be a viable option to help you avoid the adverse effects of foreclosure.

SHORT SALE:The lender will agree to allow the sale of the home for less than is owed. In many instances, the lender will forgive or reduce the deficiency balance owed. The  homeowner must demonstrate a financial hardship and the sale must be at or near fair  market value.   

HAFA - Home Affordable Foreclosure Alternatives Program: For those homeowners who do not qualify for HAMP or have failed their loan modification, HAFA gives them the opportunity to conduct either a short sale or deed-in-lieu of foreclosure.For more information regarding HAFA please contact one if the resources provided.

Deed-in-Lieu: A deed-in-lieu of foreclosure is an option that a homeowner has where they convey all interest they have in their property to the mortgage lender to satisfy a loan that is in default and avoid going to foreclosure. (You could receive up to $3,500 in relocation assistance if you have to sell your home)


If you decide to pursue a short sale, it is critical you work with a real estate agent and a company experienced in dealing with distressed assets. A short sale is more complicated and takes longer than a traditional sale. Never has your “team” of professionals been more important to the success of your transaction.  

Lepizzera and Laprocina has handled over 1000 short sales and we have the experience you need in these difficult times.  In addition to negotiating and closing short sales for homeowners experiencing financial hardship, we have educated and trained thousands of Real Estate Agents on how to effectively market and handle all aspects of the short sale.  We have the resources and network you need.  Contact us for a free consultation.