Frequently Asked Questions
1. What is foreclosure?
2. What is Loss Mitigation?
3. What can loss mitigation do for me?
4. How do we stop foreclosure?
5. How long do I have to act?
6. I have been contacted by several companies offering to help. What is different about your company?
7. Should I negotiate with the lender myself?
8. Once I have finished the paperwork, how long will it take for you to complete my case?
9. Do I have enough time to stop my foreclosure?
10. I have tried talking to my lender and they just want all of their money. Can you still help me?
11. Should I file bankruptcy to save my house?
12. Do I need to have a certain type of mortgage loan for your company to help me?
13. How much does your service cost?
14. Can you still help me if I can no longer afford my home?
15. What is a Short Sale?
When a homeowner defaults by failing to make payments on his or her mortgage, the bank or financial institution (lender) that holds the mortgage note may foreclose on the property. Foreclosure gives the legal ownership of a property to the bank to allow the bank to recoup its investment. There is a legal time frame, which varies from state to state, that determines how long the foreclosure process can take. Click here to review foreclosure laws by state.
This means that the homeowner’s loss is “mitigated”, or made less severe. When a homeowner is behind on mortgage payments, he is at risk of losing his home.
3. What can loss mitigation do for me?
The goal of loss mitigation is to work out an agreement with the homeowner and the lender to stop the foreclosure proceedings. This will allow the homeowner to stay in their home and protect their credit history.
4. How do we stop foreclosure?
We are here to help you identify and implement the best possible solution to help you avoid foreclosure. We will review your lender’s loss mitigation policies and your state’s foreclosure laws to make sure that we give you the best service. Following a detailed financial analysis of your situation by our specialists, we will work with you and your lender to come up with the most appropriate solution for your particular situation. We will work diligently on your behalf to negotiate and secure a fair agreement with your lender as quickly as possible. . Click here to contact us for a free eligibility assessment.
Time is of the essence when you are behind on your mortgage payments. The longer you take to act, the more difficult it is to work out a reasonable agreement with your lender. The home foreclosure process can take anywhere from a few weeks to several months, depending on your state law and the method of foreclosure your lender chooses to use. Click here to contact us for a free eligibility assessment.
6. I have been contacted by several companies offering to help. What is different about your company?
You need to beware of the predatory companies and attorneys who are not looking out for your best interests. They are actually just interested in buying your home at a big discount or talk you in to filing bankruptcy. We, however, are very committed to our clients. We operate in every state and a have comprehensive understanding of all the ins-and-outs, and rules and regulations applicable to each foreclosure situation. Our expertise and commitment to our clients is what sets us apart. . Click here to contact us for a free eligibility assessment.
7. Should I negotiate with the lender myself?
Yes, if you are only one or two payments behind and your lender has not hired an attorney to begin the foreclosure process, then you may be able to negotiate an agreement yourself. You do not have a lot of time to waste. If you haven’t worked something out within 2 weeks, then your lender is not serious about working things out with you directly. This is when you will be better served by using professional representation that will use formal business and legal protocols to work out the best agreement for you.
8. Once I have finished the paperwork, how long will it take for you to complete my case?
This depends on the stage of foreclosure you are in and your financial situation. It can take anywhere from 2 days to several months. It typically takes several weeks to work out an agreement and stop foreclosure proceedings.
9. Do I have enough time to stop my foreclosure?
There is still a chance until the foreclosure sale occurs. You will need to act very quickly if a sale date for your home has been set. We have stopped foreclosure sales set for the next day but this can be very risky as some lenders will not agree to it. Your best option is to take immediate action to stop foreclosure before it goes too far. Click here to contact us for a free eligibility assessment.
10. I have tried talking to my lender and they just want all of their money. Can you still help me?
Yes, many of our clients have experienced this kind of inflexibility from their lenders before calling us. Because of our experience, lenders trust us and they will listen. Our integrity and professionalism has earned us a reputation that allows us to be heard and get through the red tape. We will use our experience and connections to your advantage. Click here to contact us for a free eligibility assessment.
11. Should I file bankruptcy to save my house?
We recommend you consult a reputable attorney for the answer to this question. There are certain times when bankruptcy is appropriate. However, the American Bar Association has reported that 96% of homeowners who declare bankruptcy end up losing their home to foreclosure anyway.
12. Do I need to have a certain type of mortgage loan for your company to help me?
No, whether you have a FHA, VA or Conventional loan, we have been able to assist clients.
13. How much does your service cost?
The cost is determined by your monthly mortgage payment, and the complexity and urgency of your situation. We will evaluate your case and explain the best options for you to save your home. We are confident that you will feel that our fees are a bargain compared to your potential loss. We offer a money back guarantee, in some cases, if we are unable to secure a work out agreement with your lender. . Click here to contact us for a free eligibility assessment.
14. Can you still help me if I can no longer afford my home?
Yes, if you are certain that you cannot afford your home any longer; we can help you secure a short sale or a deed-in lieu of foreclosure agreement with your lender. Click here to contact us for a free eligibility assessment.
When your lender agrees to accept less than what you owe to pay off your mortgage and you sell your property.