Why should I retain you?
Our Team of Experts has over 100 years of Real Estate and Finance experience. Our Loss Mitigation and Loan Modification Experts speak the same language as your Lender or Loan Servicing Company and know what it takes to achieve the best possible scenario. People who attempt to obtain a loan modification on their own typically get turned down or accomplish far less than those who utilize our expertise.
What can Loss Mitigation do for me?
The purpose of Loss Mitigation is to work out an agreement between you, the borrower, and the Lender or Loan Servicing Company in order to stop the foreclosure proceedings. This allows you to keep your home and avoid foreclosure which may protect your credit.
What is a Loan Workout?
Either a Loan Modification or a Repayment Plan.
What is a Loan Modification?
A Loan Modification occurs any time the terms of the original loan contract is permanently altered. This can involve a reduction in the interest rate, forgiveness of a portion of the principal balance due or an extension of the maturity date of the loan.
What is a Repayment Plan?
A plan that allows the borrower to become current and catch up on missed payments. This is accomplished by spreading the amount of delinquent payments over next few months which allows the borrower to bring the account current.
How much do you charge for your service?
Call today to determine if you qualify to have your loan modified. By discussing your scenario with one of our Financial Advocates, we can help determine the best course of action that may lower your monthly payment and save your home for you & your family.
How long does it take for completion once we fill out all the paperwork?
The time line depends on the state of foreclosure you may be in, your financial position, and your Lender or Servicing Company. Typically, it takes 4-8 weeks to complete a Loan Modification or Loan Workout. We commence work on your case as soon as we receive your paperwork. Time is of the essence.
What about my privacy? How do I know you are legitimate?
Do I have time to stop the foreclosure proceedings?
Due to the state of our economy, lien holders would rather keep a borrower in their home rather than foreclose. Therefore, if there is an opportunity to complete a Loan Modification or Loan Workout, the lien holder will typically work to get the payment modified. It is imperative you act quickly if a sale date has already been scheduled for your home. This means you have a limited amount of time to start the process with us. We recommend that you contact us today for an eligibility assessment.
I have bad credit, should I even bother going through the process?
Absolutely! The lien holder looks at your capacity to repay the modified payment, not your credit score. Remember, they want to keep you and your family in your home and have the ability to make a consistent, on-time payment.
Why did my mortgage payment get sent back?
Many Lenders will refuse to accept any payment unless it is the entire amount you are delinquent including late fees, legal fees and miscellaneous fees. Once foreclosure proceedings have begun, your Lender will not accept any payment less than the full amount that is in arrears, including foreclosure costs and legal fees. We will work with your lien holder to resolve your financial challenge.
Can you really resolve my foreclosure?
Yes. We will provide a comprehensive list of items needed along with specific instructions necessary to facilitate the Loan Modification or Loan Workout. There are only a few reasons why a Loan Modification or Loan Workout cannot be achieved. The first is if the borrower simply does not have the capacity or ability to make a modified payment. The second is if the borrower starts the process with us and fails to keep an open line of communication or simply does not comply with requests for additional information from our Team of Experts. Finally, should the borrower falsify any documentation to deceive the Lender or Servicing Company, the process will be immediately terminated