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Alina Davidov

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Dear Illinois Homeowner,

Are you having trouble making payments on your current mortgage? Do you currently owe the bank more than the home is worth? If you answered yes to these questions, please understand that I am here to provide you with resources to help you move in the right direction and avoid foreclosure, if that is your goal.

My name is Alina Davidov, and I am SFR certified (Short Sale & Foreclosure Resource) by the NAR (National Association of Realtors®). I am here to help families, like yours, who are facing foreclosure on their homes avoid this legal process. I will listen to your story and we will talk about your goal with the property. If you are fighting to keep the home, I will point you in the direction of resources that are available to you and help you figure out what steps you will need to take. If you cannot stay in the property and will want to short sale it, I will work through all the necessary steps with you and will market your home so that we find the right buyer and get bank acceptance before it's too late.

So let's start reviewing your situation right now and start tapping into some valuable resources that are out there, ready to help you right now...

STEP 1 to Avoiding Foreclosure (Loan Workout Options):                                                      

If you are having trouble making payments on your home and you owe the bank more on the home than the home is worth, here are some numbers that you can begin calling. These resources are available for your counseling needs and are here to help distresses homeowners understand their options:

800-569-4287 Is a hotline to find a HUD-approved housing counselor.

888-995-HOPE Is a Homeowners Hope Hotline

Online, you can begin by visiting to learn more about  Making Home Affordable ® programs (a free federal government program designed to help homeowners struggling to make their mortgage payments). This site is very thorough. It discusses all the available options, eligibility, steps you need to take, and videos.

Online, you can check if refinance under Hope for Homeowners (H4H) is an option for you. this is a program through HUD:

If you decide to keep the home or to do a Deed-in-lieu of foreclosure, you will not need to go to step 2 below because the steps to the options you are looking for will be found in the resources listed above.

 STEP 1 SUMMARY: Loan Workout Options: 


Lenders may let you make a partial payment, or skip payments, if

you have a reasonable plan to catch up. Tell your lender if you expect a tax

refund, a bonus, or a new job.


Reinstatement refers to making a payment that covers all your



late payments, usually at the end of a forbearance period. 

Repayment Plan

 If you can’t afford reinstatement, but can start making monthly payments until you are caught up.

ayments to catch up, the lender may let you pay an additional amount each mth.

Loan Modification.

Your lender may agree to amend your mortgage to help you

avoid foreclosure. The options include:





 Adding all the missed payments to the loan amount and increasing the


monthly payment to cover the larger loan.





 Giving you more years to pay off the loan, lowering the interest rate,


and/or forgiving part of the loan, to lower your monthly payment.





 Switching from an adjustable?


rate mortgage to a fixed rate mortgage, so

you aren’t exposed to increases in your monthly payment.




Requiring amounts for taxes and insurance to be included with your


monthly mortgage payment so you avoid big bills in addition to your mortgage.

Sign Over the Property to the Lender in Exchange for Debt Forgiveness.


This can hurt your credit, but is better than having a foreclosure in your credit history.




Source: Reprinted with permission from the National Association of REALTORS® and the

Center for Responsible Lending.


Are You Having Problems Paying Your Mortgage? Learn

Available at:

 How to Avoid Foreclosure and Keep Your Home



STEP 2 to Avoiding Foreclosure:                                                   

If you have exhausted all options that are available through the resources above, two more choices remain to avoid foreclosure:

A. Sell the home and bring cash to the closing to make up the difference (which most people who are in distressed housing situations cannot do).

B. Short Sale the home. The rest of this page is dedicated to thoroughly explaining what the Short Sale Process is all about. You can email me direct at with all your questions.  This is a process the I will help you with in every step of the way.


What is a Short Sale? A Short Sale is a property that sells for less than the balance owing on its mortgage. In other words, if you owe more to the bank than you can sell your home for in today's market, you are asking the bank to approve a Short Sale.

When will a bank choose to accept a Short Sale? A bank will accept a Short Sale if it determines that it will save money doing this versus foreclosure.

Beware of Scams: Watch out for unethical investors who will try to convince an owner facing foreclosure to (1) sign a quitclaim deed for the property and then (2) lease the property. In such cases, the former owners will still be liable for the mortgage payments, even though they no longer own the house.


How do I know if my home will be approved for a Short Sale? Only the lienholder(s) (mortgage company) can decide if they will accept your Short Sale. In order for them to make this decision, they will need to review a Short Sale package (including a hardship letter) from you, a sales contract between you and a buyer, and appropriate disclosures and addendums. A Real Estate agent, such as myself, will provide you with all the necessary paperwork, will market your home, will find a buyer for the home, and will work together with your attorney to make a deal with the bank on your behalf.

What is the first step if I do decide to Short Sale my home? The first step begins with contacting a Real Estate agent, like myself. I am SFR certified. I will confidentially review your situation with you, review the homes saleability, discuss best pricing method for the home, and help you with all the paperwork your bank will need for the short sale. Please email me at now. I do receive all my emails immediately and I respond back in very reasonable time.

I hope you found the information above to be helpful and easy to understand and I hope that it helped put you in a direction that you feel is right for you. I am here to help you avoid foreclosure through the short sale process, once all your other options have been exhausted. Email me now to get started at

Disclaimer. Variety of options, including but not limited to a loan modification or repayment plan, refinancing with a different lender, filing bankruptcy, allowing a foreclosure to proceed or negotiating a deed in lieu thereof, may be appropriate for the property owner. Property owner should obtain competent legal advice regarding such options, since Illinois law prohibits Real Estate Broker from providing legal advice.











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