Facing foreclosure happens to many people. It is often the result of unplanned, even uncontrollable circumstances in a person’s life such as unemployment, the death or illness of a loved one, natural disaster, divorce or other unexpected changes in a family’s financial situation. These tragic financial setbacks can result in a homeowner falling behind on monthly mortgage payments. After these payments are past due for a period of 90 days or longer in most states, the mortgage servicer can initiate the legal process of foreclosure.

Foreclosure is more than just losing your home. In a foreclosure, families can be forced to relocate, losing their home as well as any equity. Worse, homeowners can still be held financially responsible for some portion of the losses associated with the foreclosed home – even after filing bankruptcy. Finally, foreclosure can seriously damage your credit for many years, making it more difficult to purchase a home again in the future.

Foreclosures hurt everyone. It is important to know that the mortgage servicer does not win in a foreclosure and views this option as a last resort. Instead, mortgage servicers prefer to work with homeowners, if possible, to find a way to keep them in the home.

In this trying time, it may be difficult to realize that you have options. One of those options is working with Passport Realty, LLC. We will help you understand your alternatives to foreclosure. We will connect you with the right contacts at your mortgage servicer – those with the authority to work out alternatives. If you don’t have the ability to stay within your home, we will work with you to relocate.

Passport Realty Team is the premier provider of home retention consulting services in the mortgage industry. Our ultimate goal is to put the homeowner back in communication with their mortgage servicer to find a way to avoid foreclosure. Our Team members are experienced real estate professionals who live and work in your community and have a vested interest in helping you to preserve homeownership. Our job is to understand your specific situation, make sure you know your options and put you in touch with the people who can best help you avoid foreclosure.