OPTIONS TO AVOID FORECLOSURE

 We are the foreclosure experts with close to 30 years experience.  The foreclosure assistance we provide includes many of the following foreclosure avoidance options that are available to us in helping homeowners avoid foreclosure and save their homes:

• Lowering monthly mortgage payments by having the lender reduce the interest rate;

• Converting current adjustable rate mortgage (arm) to a fixed rate mortgage;

• Incorporating most of the mortgage arrears into the existing mortgage (modification agreement) thereby resolving the foreclosure action by allowing the repayment of  the accumulated debt over the remaining balance of the loan.  A new mortgage instrument is signed and it is as close as one can come to a fresh start after foreclosure.  Credit is dramatically improved as the loan is shown as performing;

• Removing forced placed insurance on the property thereby lowering the escrow component of the mortgage payment;

• Raising, if applicable, predatory lending practices as a basis for the lending institution to forgive mortgage debt as well as to modify mortgage terms in order to make mortgage payments more affordable;

• Reinstating your mortgage by the payment of your mortgage arrears thus cancelling the mortgage foreclosure action;

• Requesting the foreclosing lender to accept a deed-in-lieu of foreclosure.  This occurs when you, by consent of the foreclosing bank, convey all of your interest in the real property to the lender in order to satisfy a loan that is in default and to thereby avoid foreclosure proceedings.

• Entering into a stipulation with the foreclosing mortgagee (forbearance agreement) whereby the lender forbears from continuing to foreclose as long as you,  the homeowner,  provide a substantial downpayment and timely pay a portion of the remaining balance of the arrears together with the regular monthly payment over the next 6-18 months;

• Obtaining a negotiated settlement with your mortgage  lender whereby it accepts less money than what is currently owed upon a sale  in full settlement of all obligations (short sale).  You leave the house but the nightmare is almost over, the pressure is off your shoulders and your credit will repair itself in a relatively short period of time.

  ur staff of highly trained negotiators have the ability to stop your foreclosure sale if time is short.   Then, we have the ability to use all of the other options and tools available to us to get you the best negotiated settlement to your mortgage foreclosure.  Take a few moments to find out what we can do for you.  We may be able to give you a fresh perspective on your situation and offer you foreclosure solutions that you had not thought were possible.  Call us 24/7 at 1-877-848-8736 and fill out our short online form.
  

As the number of foreclosures increase at an alarmingly unprecedented rate due to higher interest rate adjustments as well as diminishing income levels more and more homeowners are quickly realizing the futility in trying to save their home.  Homeowners, albeit current on their mortgages, in anticipation of no longer being able to make their payments as interest rate changes loom in front of them are increasingly exploring the options available to them in dealing with their unexpected predicament of having to pay hundreds, if not thousands of dollars more for each monthly mortgage payment.

Chaos is ensuing as homeowners come to grips with the grim reality of the situation.  No longer are they trying to save their home at any cost,  as so many did in the past by resorting to any type of loan at any interest rate or by filing a chapter 13 bankruptcy that was doomed from the start.  Now, the new question is "How do I get this monkey off my back?"  At a time when the once proud homeowner now can rent a similar dwelling he's living in for 1/2 the price, be able to afford it for his family,  and be able to have excess disposable income left over for a better lifestyle it begs the question "Why Not Just Let the Bank Take it?"

The reality of the situation is that the glut of empty homes due to the rising tide of foreclosures has severely impacted the value of the housing market as well as the marketability of the majority  of  homes.   Most homeowners, across the country, are finding it nearly impossible to sell their homes as savvy buyers are only looking to purchase the best of the crop at the lowest price possible.   Saddled with bloated debt on property whose values have dropped to below what is owed the homeowner's past ability to be creative with either financing or in selling their property has ceased to exist. 

Moreover, if one just lets the bank foreclose, they risk the bank obtaining a default judgment of foreclosure.  If the foreclosure sale takes place and the bid amount is less than the obligation, a deficiency judgment will result, thereby giving the lender the opportunity to attach property to satisfy the judgment for many years into the future.   Let us not forget about their ability to nonstop harass and harangue you with phone calls at all times of the day and night and weekend, further empowering them to have control  over your life for many years into the future.   In many instances this deficiency judgment involves hundreds of thousands of dollars of debt.   Where is the light at the end of the tunnel?

Many lenders and mortgage servicing companies when first contacted by a soon to be defaulting borrower are actively pushing the notion of accepting a short sale rather than being burdened with eventually owning the property through a foreclosure sale.   In fact, the only game in town, giving the homeowner the possibility of mitigating the seriousness of the repercussions of letting the bank take the property back is to do a short sale.   The short sale will avoid the disastrous effect of having a foreclosure sale or bankruptcy on ones credit report.