Important Announcement

Due to the mortgage industry under going massive changes, we are unable to help the vast majority of people who contact us about foreclosure avoidance. Due to the mortgage industry meltdown, many of the products we used to bail people out of foreclosure are no longer in existence.

Consequently, before contacting and expecting us to be able to provide a solution, please make the following calculation. Take your current mortgage and add all back interest and fees being charged by your lender. Take this number and divide it by the current estimated value of your home. If the result is 50% or less, please contact us as we maybe able to help.

If the amount is in excess of 50%, chances are we will not be able to assist you. However, please feel free to contact us with any questions that you may have. If we are able, we certainly want to assist you in any way possible.

Foreclosure Avoidance Help

Foreclosure:
A legal process in which mortgaged property is sold to pay the loan of the defaulting borrower.

If you receive a notice of default from your mortgage lender, you are in foreclosure and you may lose your house. It’s important to take action quickly because you are losing money with each passing day. When payments stop or are not accepted, interest is being added to your loan on a daily basis. It is only when you payoff or get caught up with ALL arrearages (assuming that is still an option), that the additional interest charges stop. As long as the foreclosure is in process, it continues to damage your credit severely.

Your immediate foreclosure avoidance strategy should include getting the most competent legal and financial advice available. An attorney can fully explain the legal ramifications of the foreclosure process and help you to exercise all of the proper legal rights afforded to you.

We can help you with financing alternatives to foreclosure and a credit repair strategy

Here are some examples of how we may be able to help.

• Provide a bail-out loan up to 65% of the appraised value of the home (don’t believe your bank’s appraisal)
• Consolidate Debt to make your payments more affordable
• Provide you with a plan to clean up and improve your credit
• Take you out of the “Bail Out” loan and drastically lower your payments

When a loan is not possible, we have helped structure lease/buy-back arrangements.
These are arrangements where a buyer will purchase the property and rent it back to the seller.
There is an agreement that the seller will be able to buy back the property at a pre-determined price as long all the conditions of the agreement are met.

Usually, that rent payments are made on time and that the property be kept in good condition.
At the end of two or three years, the seller’s credit has improved by paying the rent on time and re-establishing credit. At that point the improved credit status should allow for the re-purchase of the property. Typically, this can work when the costs of paying off the foreclosed loan, does not exceed 80% of the market value of the property. This option should only be used if it is absolutely essential to keep the foreclosure property and no other options to do so are available.

Sometimes, selling the property and walking away makes the most sense. But where can a person with a D credit rating go to live? Believe it or not, with a 35% down payment, you could buy a more affordable place to live. We have actually done this for a number of clients. In one case, our client put $80,000 down (from her sale of her foreclosure property) and was able to purchase a new home for $225,000 and the new payments were much more affordable than if she refinanced her old loan that was in foreclosure.

Remember if you’re in foreclosure, you are losing money each and every day.
You should be getting legal and financial advice immediately.