• Your Rights
• Your Lender
• Your Options
• How do I qualify?

Foreclosure Management Options

Your Rights
As a homeowner, you are entitled to certain rights that your lender may not have informed you of, which could help save your home. Bankruptcy is a last alternative and should be avoided if possible. There are many options available that could quickly resolve your situation. However, we believe that our foreclosure consulting services are the most cost and time efficient method in securing your home. We can help you sort through the confusion of foreclosure and exercise those rights which maximize your best outcome.

Your Lender
Contrary to popular belief, lenders prefer to avoid the foreclosure process if possible, because foreclosing on a property can cost them thousands of dollars in expenses. However, negotiating with the lender to find the best solution is complicated and time consuming. Depending on your situation and your lender, the nuances of negotiations are critical to a successful outcome. You need someone who is experienced in all facets of foreclosure negotiation. Our job is to help you to present yourself in a way that convinces your lender that you are a responsible person and that you are capable of developing a plan and sticking to it to get back on track. Because mortgage companies deal with thousands of delinquent accounts each day, our job is to make sure that your lender presents you with a full range of alternatives. We will negotiate on your behalf and find the plan that fits your situation best. Our job is to make you look good and to relieve you of the burden of dealing with your lender.

Your Options
Right now, you are probably considering multiple options as you evaluate your alternatives. You should choose the one that fits your needs best.

1. Foreclosure Mediation - This service negotiates with the lender to repackage the loan so that the borrower can become current again. It will help save your credit, keep you in your home, save your home equity and appease your lender. If you are accepted as a client by us, you have a great chance of eliminating the foreclosure process within 3 to 6 weeks.

2. Deed in lieu of foreclosure - This is where you are unable to pay for the house and you voluntarily give the house back to the lender. This is subject to a deficiency judgment yet counts as a "less serious" foreclosure on your credit. However, you lose your greatest asset, your home. Also, not every lender will always accept this arrangement.

3. Sell your house - You lose your home in this situation but you may save some of the equity in your home. Include the standard 6% realtor fee when calculating your net proceeds from the sale. Also, be aware that because you are in foreclosure and under intense time pressure to sell your home, you may not receive the full market value for the home. Worse yet, three months from now, you may not have sold your home and now owe an additional three payments on your home and still face foreclosure.

4. File for bankruptcy - This can be a very expensive and drawn out process through which there is no certainty of outcome. In the end, a court decides the outcome of all your assets and will leave you with a severely damaged credit record and the strong possibility of no home. If you are considering bankruptcy, you should contact an attorney to discuss this option.

How do I qualify?
Here are the top five reasons people get behind in their mortgage payments:

1. Temporary Job Loss
2. Illness or Injury
3. Mis-prioritizing the Bills
4. Divorce / Separation
5. Unexpected expenses or repairs

We understand that bad things happen to good people. While these events may have caused you to miss your mortgage payments in the first place, they actually can help you to reinstate your loan. Granted, these hardships must be curable, identifiable and legitimate. However, if they are, the lender will want to negotiate with us, given that you have income sufficient to make the mortgage payment. In most cases, we do not even have to check you credit. We'll process your application in two days and go to work immediately to get you current.