Property Owner Questions & Answers

What is a mortgage default?

    A mortgage is considered to be in default when one or more monthly payments have been missed.

What solutions are available if I am in default on my mortgage payments?

    You may qualify for a broad range of help. Some solutions are:

        * Short Sale/Payoff

        * Forbearance Agreement

        * Loan Modification

        * Deed in Lieu

What is a Short Sale/Payoff?

    Short Sales occur when borrowers sell their properties for amounts that are less than the amounts owed to the lender.

How do I qualify for assistance?

    Borrowers need to prove that they are experiencing a substantial financial hardship.

What is a Hardship?

    A hardship is a situation that has a life changing effect for the borrower that results in an in-ability to pay the mortgage debt in either, short or long term. Some examples are:

        * Separation or Divorce

        * Medical Bills

        * Inability to work due to health reasons

        * Death of Spouse

        * Job Relocation

        * Reduced Income or Unemployment

        * Business Failure

How do I apply for assistance?

    Contact Miranda Group and consult with us about the most suitable solution.

How do I qualify for a Short Sale?

    A borrower must prove that a hardship exists. The lender must be willing to accept the short sale proceeds as full settlement of the debt.

What is required from the property owner?

    The property owner must:

        * Sign a listing agreement with the Realtor

        * List the property for sale

        * Cooperate with access, showings, offers, and with the Realtor and Miranda Group.

        * Vacate the home following close of title

        * Agree not to finance or otherwise encumber the property

        * Be responsible to maintain the home in "show" condition

        * Be responsible for minor repairs to the home

        * Be a responsible homeowner until close of title and vacancy of home.

Can any Real Estate Agent assist me in selling my home in a short sale situation?

    Possibly, but usually you have only one shot to succeed in a short sale transaction, it is therefore highly recommended you work with a company experienced in short sale negotiations that can properly represent you and is specialized in this field.

How do I find a proper broker/agent?

    Miranda Group has a network of qualified Real Estate Agents nationwide that can be assigned to you for assistance. The agents work under the strict guidelines of Miranda Group.

How can Miranda Group help me?

Attached is a partial list of our services:

    * Possibly will help you avoid foreclosure and eviction.

    * Help you minimize credit damages.

    * Counsel you through the process.

    * Act as the liaison between you, the lender and your Broker/Agent to ensure all parties work together toward a   

      successful Solution.

    * Provide relief during a difficult time.

For further information or assistance please contact us at 1-617-682-8023.

**Please remember that only the lender may approve the short sale solution.

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