Available Nationwide
Are you up at night, worrying because your adjustable rate mortgage is going to reset and you cannot afford the new payment? Maybe you owe more than your house is worth? Or you are unable to get a new loan because your credit is bad? Maybe you are 30 days late on your mortgage. 60. We work with anyone who's property is currently not legally in default ("NOD").
Our primary service is representing homeowners who wish us to correspond on their behalf the maximum benefit loan modification or short sale, in some cases forbearance or deed in lieu. Since the lender does not represent you, they are not interested in maximizing your benefit. This can been seen in low grade modifications provided by lenders that really do not resolve your hardship. We talk their language and know how to motivate lenders to provide you will a maximum benefit loan modification or short sale.
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You Don’t Have To Lose Your Home
Our Loan Modification program (a loss mitigation service) can help you, like we have helped many others in similar – or even worse – circumstances. Our company specializes in helping people find alternatives to losing their home. Our objective is to make sure that you realize no matter how bad your situation might be, foreclosure may be avoided if you take prompt action. We have the skill and expertise to give you the greatest chance at getting the result you need.
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How Does It Work?
Our Loan Modification Specialists will sit down with you and review the alternatives available to allow you to keep your home. The key to avoiding foreclosure is you! Through open communication with our loss mitigation specialists, we can try to help you cure your mortgage default without foreclosure.
In general, there are four options available to a homeowner in distress:
1) Loan Modification: In certain circumstances, an investor may allow us to add the delinquent amount to your loan balance or temporarily reduce the interest rate as well as your principal amount to assist you in curing the default and restoring your credit status.
2) Forbearance/Formal Forbearance: A Forbearance Plan is a repayment agreement between you and your lender. We will review documentation supporting your monthly income and expenses. We will develop a plan and place a proposal in writing providing for payment of one full monthly payment and a portion of the delinquent amount due on your account. The objective of the plan is to allow you to cure your default over a period of time, reinstating your mortgage, while allowing you to maintain your normal monthly living expenses.
3) Short Sale/Pre-Foreclosure Sale: Loss Mitigation Services, Inc ("LMS") frequently works with homeowners who, due to a change in employment or other life event(s), can no longer afford their home. The decision to sell your home under these circumstances is difficult; in addition, fluctuation in real estate markets may leave you in a situation where you have little or no equity – or even a loss upon the sale of your home.
A short-sale occurs when you owe more than your home is worth. Loss Mitigation Services may -- with permission from the investor -- assist in the sale of your home under these circumstances in which the investor (mortgage holder) agrees to accept net sales proceeds as full payoff. Investor approval is based upon your financial situation and the current market value of your home.
4) Deed in Lieu of Foreclosure: In the event you have decided you can no longer afford your home and do not want to go through marketing efforts or foreclosure, you may voluntarily return the property to the investor. Loss Mitigation Services would need to verify all lien-holders on the property and we would need a walk-through inspection of the property.
Loss Mitigation Services strategically focuses on loan modification and short sale services. Our belief is that Forbearances and Deed in Lieu options are a worse case solution and are a last resort. Though in some cases a forbearance is interim step to a loan modification.
DISCLAIMER: PLEASE NOTE THAT WE ARE NOT FORECLOSURE SPECIALISTS AND WE DO NOT WORK WITH ANYONE WHOSE PROPERTY IS CURRENTLY IN DEFAULT "NOD" (NOTICE OF DEFAULT) STATUS. WE WILL HAPPILY REFER YOU TO A FORECLOSURE SPECIALIST IF YOU ARE CURRENTLY IN THIS STATUS.
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