Stop Foreclosure, enough said contact us for foreclosure help
Stop foreclosure with a company that is the nationwide leader in foreclosure assistance. We have helped homeowner that were upside down on their property get a loan modification. We have helped homeowners that were unemployed with a short sale. We have helped homeowners in almost every state stop foreclosure.
If you want to stop foreclosure and sell your home we have got you covered. We have a nationwide network of real estate agents and investors that are eager to help stop foreclosure and sell your home. Helping people is our passion and there are many avenues in the foreclosure business to help people stop foreclosure. Contact us today with your foreclosure issue and we will give you advise or assist in stopping foreclosure.
Our Homeowner Assistance Process to Stop Foreclosure
Options available to Stop Foreclosure
- Forbearance
- Repayment Arrangement
- Loan Modification
- Short Sale (also known as Pre-foreclosure Sale)
- Deed-in-Lieu
Lenders (mortgage companies) require homeowners to meet minimum requirements to qualify for retention or liquidation workout options to stop foreclosure.
Just a little back ground, a Retention Plan is a workout plan to stop foreclosure and keep a homeowner in their home. Some of these plans are Loan Modifications which are the hot topic now, repayment plans and forbearance to name a few. The Liquidation Plan is a workout plan to stop foreclosure and sell or liquidate the home. The liquidation plans that liquidate the loan are Short Sale and Deed-in-Lieu.
All workouts listed above are available to homeowners in default or foreclosure (there are a few investors that do not allow loan modifications). Liquidation and retention options are available immediately upon default or sometimes while a homeowner is current on payments, but the reason for default has to be incurable. Vacant and abandoned properties are typically not eligible for retention options to stop foreclosure unless related to a job transfer, death or other documented reasons.
We Stop Foreclosure USA works to fulfill the goal of helping homeowners in default or facing default remain in their homes if that is the goal. We place enormous importance on loss mitigation functions to pursue an effective stop foreclosure strategy. We all benefit when foreclosure assistance is pursued early and vigorously. Our team of loss mitigators are positioned to determine which, if any strategies are appropriate to assist homeowners in curing the default and to help stop foreclosure. We help you select the most appropriate loss mitigation strategy for each homeowner. We need to address delinquency at the earliest possible time to avoid foreclosure. We will evaluate your hardship to determine the best workout possible in order to stop foreclosure.
Loan Modification Help to stop foreclosure
A loan modification is the changing of one or more terms of a mortgage in order to help a homeowner bring a defaulted loan current and stop foreclosure. Below are some options to modify the terms of a loan:
- Capitalize and re-amortize delinquent interest, escrow, fees, and cost
- Capitalize delinquent interest, escrow, fees and cost in combination with extending the term of the loan.
When we use the term capitalize that is rolling the amounts back into the loan.
Generally, a loan modification should be considered if changing one or more of the original terms of the mortgage would cure the present delinquency, stop foreclosure and prevent future delinquencies, thereby avoiding additional foreclosure costs and the lender's acquisition of the property.
Loan modifications should be considered for homeowners who:
- Have experienced a hardship resulting in a reduction of income that affects the ability to pay the mortgage payments.
- Have demonstrated the ability to recover from the hardship ans now have a source of stable monthly income.
- Want to retain ownership of the property
- Most important where people really miss the mark " Cooperative"
Straight Capitalization Loan Modification to Stop Foreclosure
A Straight Capitalization loan modification happens when the delinquent amount is added to the principal balance and the modified principal is amortized over the existing loan term and interest rate. The end result is an increase in monthly mortgage payment. The process will stop foreclosure but increase payments.
Many homeowners try to stop foreclosure themselves but end up not understanding the process and getting into more trouble and needing our foreclosure help.
Forbearance to Stop Foreclosure
Typically a forbearance plan is utilized in conjunction with a loan modification. If a customer does not show affordability for a modification due to a temporary hardship, but circumstances allow for a loan modification in the near future, lender sometimes set up a forbearance plan.
* Different lenders have different ideas for what they consider to be a forbearance plan, in some instances a lender (servicer) calls a repayment plan a forbearance plan, also consider a modified payment a forbearance plan, their only similarity is the fact that it is temporary usually 3 months and once complete homeowner is not current and gets a loan modification.
A forbearance plan will provide the customer time to stabilize income. During the forbearance period, the customer's are reduced, in some instances suspended, or in some situations regular monthly payments are accepted establishing a payment history. If a homeowner is able to keep up with the forbearance plan, the loan will be reviewed for a loan modification or other workout option as appropriate to stop foreclosure.
|
