Foreclosure Problem Solving:
We are a real estate and business debt restructuring firm specializing in foreclosure solutions and financial consulting. Our goal is to help you stop your foreclosure and give you a fresh start.
Our success rate is 99%
We specialize in working with your lender, or lenders, to help restructure your current loan(s) by providing you with a unique, professional plan that you and your lender can fully accept.
We completely understand that you have a serious problem and only a short time to actually overcome the real possibility of losing your property.
The lender wants to see a provable relationship between the actual homeowner's income and expenses that will ensure them and the federal regulators that the homeowner will be able to make his payments in the future.
- Feel free to give us a call as we do offer FREE consultations to review all possible solutions.
- MAKE SURE YOU KNOW THE LAW - Every state has different foreclosure laws that govern how long it takes a lender to fully foreclose on your home. Time can vary dramatically from 60 days to 9 months. Contact us and let us know what state you're in and we will send you your rights, in your state.
Typical results of our restructuring plans
Loan Modification - 95% of all major lenders and service providers will help negotiate a loan modification with Home Owners Rescue Program where most of the delinquent payments and foreclosure fees are either completely wiped out or added onto the back end of the actual loan. In most cases the interest rate and payment will actually be reduced permanently.
Interest Rate / Payment Rate Reduction
With the overwhelming increase of interest rates resetting on home loans and the devastating effect of this economy, many homeowners are currently faced with mortgage payments they can no longer afford.
Our job is to convince the current lender that it is better to lower the homeowner's payment by lowering the interest rate or payment rate. We do this by creating a payment plan the borrower can afford, as opposed to taking the home with a foreclosure sale and losing money on the re-sale. Keep in mind lenders lose money on bank owned properties as it will sell for less than market value, and they must pay a commission to a Realtor; as well as closing cost, plus the cost of holding the property while they wait for a sale in a market that is depreciating.
We need to prove to the lender what the maximum payment is that borrower can afford by constructing a financial plan for the homeowner that the lender will fully approve.
Also as the homeowner is often late with their payments and in foreclosure or soon to be in foreclosure, we need to ask the lender to forgive the delinquent payments or put them on the back of the loan.
A rate reduction in most cases is the only possibility for a homeowner to retain their home --our fee is a risk that each homeowner must fully weigh.
Principal Reduction
When a property is upside down and the homeowner is facing foreclosure, the homeowner has more leverage than they may realize against their current lender. It is our job to force that leverage directly upon that lender. In doing so, we are successful in fully wiping out large portions of principle. Typically 50-80% on seconds.
In today's current market, we can also convince the lender of first lien holders to lower the principle amount to the present market value. (ex: a homeowner owes $600,000 on first but the appraised value is $500,000. We can fully convince the lender to lower the loan amount to $500,000.) That is a $100,000 reduction in principle for the client
Deed in Lieu of Foreclosure
Under many conditions lenders will accept the property back from the borrower as full payment in order to save the time and expense of going through the foreclosure process.
Our job is to convince the lender it's in their best interest to accept the property as payment in full.
This is not a simple plan as we must actually provide the lender with a complex detailed analysis of current value of the property --and future value. Then we must prove that the borrower cannot afford to make payment or sell the home any time soon or at all.
Note: A deed in lieu will prevent the lender from filing a 1099 on their loss which is regular income to the borrower and will protect the homeowner from being sued by the lender.
Credit Report Repair
You or your clients will work with a real law firm and will have their own paralegal that will walk your clients through the process of repairing their credit.
GREAT NEWS!!
FHA and VA loans CAN BE MODIFIED. FHA can give you a no interest and no payment loan to bring your loan current.
