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FAQ
Frequently Asked Questions
What is foreclosure?
Home
foreclosure is a process by which a lender regains a property
which they have financed. Typically, this is because the
borrower or homeowner is behind on house payments and is unable
to catch up, often due to circumstances outside of his or her
control. When the lender forecloses on the homeowner, the
homeowner must move out of the house, therefore, losing all
possession of the property and jeopardizing any possible equity
that the homeowner may have in the home. There is a legal time
frame, which varies from state to state, which determines how
long the foreclosure process can take.
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What can Home Assure do for me?
If after your FREE Consultation we determine that we can help
you, there are several options to get you out of foreclosure and
protect your credit history. Loan Modification, Forbearance
Agreement, Deed in Lieu and a short sale are some of the
techniques we use to save your home.
Call us so we can explain each of these to you and
determine which apply to your particular situation.
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What can loss
mitigation do for me?
The goal of
loss mitigation is to work out an agreement between the
homeowner and the lender that will stop foreclosure proceedings
permanently. This allows the homeowner to stay in their home and
protects their credit history.
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How does Home Assure stop foreclosure?
Our company
specializes in resolutions of mortgage delinquencies or home
foreclosure claims on behalf of you, the homeowner. We perform a
detailed financial analysis and work with you to determine your
best alternatives. We review your lender's loss mitigation
policies and your state's foreclosure law to make sure that we
give you the best service within the context of your situation.
By working with you and your lender, we can tailor a resolution
to meet your specific criteria and financial circumstance.
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How long do I have to act?
Time is
of the essence when you are behind on house payments. Time
is definitely not your friend in this situation. Each day that
passes makes it that much harder to get a work out agreement
with your lender that you can live with. The home foreclosure
process can take anywhere from a few weeks to many months,
depending on your state law and the method of foreclosure your
lender chooses to use.
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Several companies contacted me recently offering help. What
makes Home Assure different?
There are many
predatory companies who are not what they appear to be. Beware
of unscrupulous companies who are actually just interested in
buying your house at big discount, or attorneys who just want to
take you into bankruptcy or companies that collect a
consultation fee then do nothing for you. We have some of the
most experienced and well respected specialists in the industry
whose sole purpose is to save your house, not buy it, sell it,
or send you into bankruptcy. Give us a call, speak with one of
our professionals and judge for yourself. The consultation
is FREE.
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Should I negotiate with the lender myself?
Yes. If you are only a
payment or two behind and your lender has not hired an attorney
to begin foreclosure proceedings you may be able to negotiate a
work out agreement yourself. If you are successful then you have
saved yourself some funds that can be used to get caught up on
your mortgage. Just remember, don't waste a lot of time on this.
Time is not on your side right now. If you don't have something
worked out within 1-2 weeks, then it's obvious that your lender
is not serious about working things out with you directly. When
you get to that point you will be better served by professional
representation that can use the formal business and legal
protocols to your advantage.
Many times they will lead you to
believe they are working out a resolution and then all of a
sudden you get a letter from an attorney. By then it may
be too late for us to help you. Don't make that
mistake.
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How long does it take for you to complete the
case once we fill out all of the paperwork?
Anywhere from 2 days
to a few months. This depends on the stage of foreclosure, the
state you live in, your financial position and the lending
institution. Typically it takes several weeks to complete a work
out agreement and stop foreclosure proceedings.
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Do I have enough time to stop foreclosure?
Up until the
foreclosure sale occurs there is still hope. If a sale date for
your house has been set you need to act fast. We have
stopped sales set for the next day but this is very risky and
some lenders will not agree to it. You're best option is
to take action immediately to stop foreclosure before it goes
too far.
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How much do you charge to stop foreclosure?
Our fees are
based on your mortgage payment amount, and the complexity and
urgency of your situation. Our professional loss mitigation
consultants will evaluate your case and explain the best options
to save your home. We are confident that you will feel
that our fees are a bargain compared to the cost of the
alternatives. We offer a money back guarantee if we cannot get
you a work out agreement with your lender(s) as long as no sale
date has been set.
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I'm currently in bankruptcy. Can you still
help?
Yes. But we
cannot negotiate a work out agreement with your lender until
your mortgage has been discharged or dismissed from the
bankruptcy proceedings. Our professional loss mitigation
consultants can still evaluate your case and explain the best
options to save your home. Then when the mortgage is out of the
bankruptcy, we can proceed with the home foreclosure help.
Sometimes after bankruptcy, it is easier to make a mortgage
payment because other debts have been discharged.
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I've already talked with my lender and they
just want all their money. Can you still help me?
Yes. Most of
our clients have experienced this kind of inflexibility from
their lenders before calling us. We get your bank to listen to
your needs because they know and trust us. We have
mitigated thousands of home foreclosure cases. That kind of
experience gives us credibility with your lender. Over the
years we have developed positive working relationships with key
people at most banks. Our integrity and professionalism
have earned us a reputation that allows us to be heard when no
one else can get through the red tape. We will use our
experience and connections to your advantage.
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Should I file for bankruptcy to save my house?
No! That usually doesn't work.
The American
Bar Association has reported that 96% of homeowners who declare
bankruptcy end up losing their home to foreclosure anyway.
Bankruptcy is very unlikely to help you save your home. If you
declare bankruptcy you will likely end up with BOTH a bankruptcy
and a foreclosure on your credit report.
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Do I need to have a special type of mortgage
loan for Home Assure to help me?
No. We
specialize in out-of-court resolutions of government and
non-government mortgage delinquencies or home foreclosure claims
for homeowners. These can be FHA, Rural Administration, VA,
Freddie Mac, Fannie Mae, or conventional loans which have become
delinquent.
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What if I can no longer afford my home? Can
Home Assure still help me?
Yes. If you
are certain that you cannot afford your home any longer and wish
to sell, we can help you to secure a short sale payoff or a
deed-in lieu of foreclosure agreement with your lender. Often
times these agreements can be arranged at low or no cost to you.
