Behind on your mortgage payments
Late on payments and in foreclosure
Every home owner runs into trouble from time to time. Perhaps there was a death in the
family or that you had some significant financial trouble. We understand that this can
happen to anyone and want to help.
If your situation was a temporary one we have resources to help resolve the problem and
you can stop foreclosure and keep your home. Home retention is our top priority.
If you can stay current on your mortage payments you have more leverage than you
think with your lender.
Loan Modification
70% to 90% of lenders will negotiate a loan modification where most of the
delinquent payments and foreclosure fees are either wiped out or added onto the
back end of the loan.
Payments can remain approximately the same. In most cases the
interest rate will be reduced permanently. You will be allowed to keep your home
and stop foreclosure in the process.
The truth is the lender does not want your home.
Lenders lose money on bank owned properties as it will sell for
less than market value. Plus they must pay a commission to a Realtor and closing cost in addition to
the cost of holding the property while they wait for a sale in a market that is still depreciating.