All agents are NOT alike! Find out why we are top real estate experts. Call us: 302-299-1111.

Request Our Free Relocation Package!
Moving your family to another town or state is a major event in your life! We have helped many families and individuals relocate!
Find Out More >
View All Offers >

Coming Soon
Read Quote >

Compare three mortgages at one time. Download TripleCalc now. It's free.

Find Out More >
Download Now >

Erik Hoferer & Associates is one of The Top Selling Real Estate Experts™
Find Out More >

Coming Soon
Find Out More >

Welcome to Erik Hoferer & Associates' Wilmington, Newark, Middletown, Kennett Square and Chadds Ford Real Estate Website

Welcome! Here You Can Find Great Information on Wilmington, Newark and Middletown, Delaware Real Estate

Looking for homes? Search everything the web has to offer, right here! Don't miss our Feature Homes.

Need local real estate information? We've summarized much of what is important about the Wilmington, Newark and Middletown real estate market in this site.

Need expert advice? No web site, large or small, can take the place of a real estate agent. Not even ours! This site is filled with ways that you can contact us for one-on-one expert help and advice. That's our job.

Contact us with confidence! We guarantee your privacy will be respected. And we offer the services on this site for free and without obligation. Why? We want to be YOUR real estate agents. As your trusted, professional real estate partners, we will help you find the best home in your area within your price range. And together we will sell your home, for as much as the market will bear, and as quickly as possible.

Buying and selling a home is one of the biggest events in your life. we have the experience and track record you are looking for.

- Erik Hoferer & Associates

Foreclosures >4. Foreclosure Alternatives

There are several alternatives for a homeowner to consider when foreclosure is looming. Before proceeding, a homeowner must first choose whether or not he or she wants to keep his or her home.

If a homeowner wants to keep their home:

Repayment plan: The homeowner establishes a payment schedule with the lender to pay the delinquent amount.

Special forbearance plan: The homeowner requests a temporary reduction or payment suspension that will be increased after a set specific period of to repay the delinquent amount.

Modifying the mortgage: The homeowner can refinance the debt and/or extend the term of the loan.

HUD partial claim: If the homeowner has a loan insured by the Federal Housing Administration the lender can get a one time payment from the FHA-Insurance Fund to get the mortgage payments up to date.

Refinance: The homeowner can negotiate a new loan with a different interest rate in order to make smaller payments.

All options listed are subject to approval of the lender.

If a homeowner does not want to keep their home:

Sell the house: Depending on the situation, the homeowner may be able to sell the house for more than is owed to the lender.

Assumption: The homeowner turns over possession of the house to another person who then assumes the responsibility of the payments.

Short sale: The lender and the homeowner come to an agreement to sell the home at a loss in order to get the homeowner out.

Pre-foreclosure sale: The homeowner can sell the home and use the proceeds to settle the mortgage debt, even if the proceeds are less than the amount owed.

Deed in Lieu of Foreclosure: The homeowner surrenders the property to the lender without further damage to his or her credit.

	See All Tips In The "Foreclosures" Category >
	See Complete Library Of Hundreds Of Tips In 30+ Categories >

Q	Where would you go to enjoy a soak in the world's largest bathtub?
A	The Spa Resort Hawaiians in Fukushima, Japan, offers an outdoor soaking tub that occupies a total area of 10,760 square feet and can accommodate 1,500 persons at one time.
See More Real Estate Trivia >

Erik Hoferer & Associates, REALTOR®, real estate agent and broker for Wilmington, Newark, Middletown, Kennett Square and Chadds Ford, Delaware home listings, property and land for sale - NUMBER1EXPERT

Erik Hoferer & Associates
Keller Williams Realty
1521 Concord Pike Suite 102
Wilmington, DE 19803
302-299-1111
Fax: 302-299-1197
ErikHoferer@NUMBER1EXPERT.com

Erik Hoferer is a licensed Realtor in Delaware and Pennsylvania and his experience will save you time and money. Selling Real Estate is all Erik does. He loves it, and his passion positively impacts each and every one of his clients. Put Erik and his team at Erik Hoferer & Associates to work for you and see why Erik has been the #1 selling agent at Keller Williams in Delaware since 2008! Erik specializes in New Castle County, Delaware and Southern Chester County, Pennsylvania and he would love to help you with all of your Real Estate needs.

Equal Housing MLS REALTOR

www.DelawareMadeSimple.com is brought to you by Erik Hoferer & Associates, real estate for
Wilmington, Newark, Middletown, Kennett Square and Chadds Ford, Delaware

Read Erik Hoferer & Associates' Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge