Make no mistake.... to Stop Foreclosure you must act quickly and decisively. Your home will be sold unless you take the correct steps to satisfy the Mortgage Company and get your loan caught up.

Foreclosure is something that can happen when you get behind on your Mortgage Loan. Your lender won't automatically put you into a program to bring your loan up-to-date. You must put the plan into motion and provide the lender with the documentation they require to analyze your financial situation to stop the Foreclosure action.

Loss mitigation programs were established by the federal government and the mortgage industry in order to stop home foreclosures. They help foreclosure victims in default on their mortgages to find alternatives to home foreclosure. Every homeowner's situation is unique and each lender has their own policies regarding the use of these programs to stop foreclosure. Our extensive experience and solid working relationships with mortgage lenders allows us help you avoid the common pitfalls that many homeowners encounter while trying to work things out directly with their lender.

There are several alternatives that, depending on your current situation, may help avoid foreclosure. We can help you save your home and credit history through a variety of loss mitigation options:

• Reinstatement Plan: Acknowledging the delinquency and working together to bring the loan current.The Reinstatement amount is total amount that is past due amount including late fees and Attorney costs. This amount will get your Mortgage caught up immediately.
  
  
• Repayment Plan: Repayment plans enable homeowners to pay a portion of past due mortgage payments along with the current payment each month, until the loan   becomes current.
  
  
• Loan Modification/Loan restructuring: In many cases, the mortgage servicer   may be willing to modify the terms of the mortgage loan. There are several types of loan modifications, including (1) rate reduction; (2) capitalization; (3) term extension; and (4) one-time assumption.
  
  
• Loan Refinance In some instances, we may be able to arrange new financing,   but this will depend on your income, credit report, the value of your home, the   amount of your equity and your current financial position. Although it might be   difficult to secure new financing with a default on your existing mortgage, it is not impossible.
  
  
• Loan Forbearance: Forbearance can postpone the repayment of past due or   current mortgage payments until a predetermined date in the future. Your lender, if in agreement, will then temporarily cease legal actions.
  
  Partial Claim: If you have an FHA Loan, we will be able to start discussions with   your lender for a Partial Claim. This strategy is only available on FHA loans. Working together with The Department of Housing and Urban Development (HUD), your lender will agree to help you with a one-time payment from the FHA Insurance Fund. You will be required to sign a promissory note with HUD and they will place a lien on your property. This HUD loan is interest-free and will bring your account up to date immediately, but it is due when you pay off the loan or when you   sell or leave the property.
  
  
• Pre-Foreclosure Sale: In some cases, the best option for a homeowner may be to sell the home. However, selling at an optimal price takes time that a homeowner may not have. The Lender allows the Homeowner to sell the house   within a 2 to 4 month time frame. During this time, the house must be actively   marketed.
  
  
• Short Sale: Short sales, if approved by the mortgage servicer, enable the home to be sold for a price less than the remaining balance on the mortgage note.
  
  
• Deed-in-Lieu of Foreclosure: A deed-in-lieu of foreclosure is when the Homeowner voluntarily gives the property deed to the Lender in exchange for forgiveness of the debt. It is the last option prior to foreclosure. In this method the lender would accept an assignment of deed in lieu of foreclosure.  At   this stage this is done solely to mitigate the legal costs of the foreclosure process.  Typically, the lender accepts the assignment and does not move legally to recover the difference between the existing balance and the actual proceeds from the final sale of the property.