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Portfolio Realty is a premier real estate firm serving Virginia, Maryland and Washington DC. The DC metro area real estate market demands high levels of skill, proficiency and knowledge. Whether you are eager to buy your first home, sell your nest egg, invest or relocate to the area, it is important to protect your investment by working with a local market expert.
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Avoid Foreclosure in Northern Virginia

There are many troubled borrowers out there that have no idea where to turn to for help.  ARM’s(adjustable rate mortgages) are resetting and mortgage payments are increasing as much as $1,500 a month.  That’s a whole other mortgage payment for some!  For those of you that are in this predicament, do not panic.  There is hope for you.  The first step you want to take is speaking to your lender.  Mortgage servicers are slammed at the moment and you can help this delay by being prepared.

Here are the necessary documents you should have ready when speaking to your lender:

  • Monthly Mortgage Statement
  • HOA or Condo association fees statement
  • Pay stubs, W-2’s, and tax return so that the Servicer can document your monthly pre-tax income(This is important to check your eligibility and determine a new monthly mortgage payment)
  • Profit and Loss Statement
  • Other Debts (Equity line, 2nd or 3rd mortgage)
  • Balance and minimum monthly payments on active credit cards, car loans, student loans
  • Statement explaining the financial problems that are or will be preventing you from making your mortgage payments

If your lender cannot help you to modify your loan then you can turn to us for help with a short sale.

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