Finding foreclosure help can be hard when the bank has already foreclosed, but you do still have options. Just because your lender has filed foreclosure, it doesn’t mean you have to lose your home. Even after the foreclosure, there may be a redemption period and you can get you home back. Below you will find basic information about what to do once the bank has foreclosed, but if you would like more help and our free membership, you’ll have to complete the form on the left. We will provide you with a complete evaluation to help you understand your options and get the foreclosure help you need today.
The first step to getting help with a foreclosed home is deciding whether you want to fix the problem on your own, or if you want to hire a professional to do it for you. We are here to help you, no matter which way you decide to go. Most people don’t have the time or patience to work with their lender on their own, so hiring a professional is a logical choice, but if you do have the time, patience, experience, and intelligence to do it on your own, you may be a good candidate. In general, if you have a real estate license or a mortgage license, you would have the experience to settle a foreclosure on your own, using our membership. Otherwise, you may find yourself overwhelmed and a little “out matched” when it comes to negotiating on your own. It is very important to understand what you are getting into, if you plan on doing this on your own.
When you use a professional, they can actually negotiate with your lender; they will know which information to provide and which to withhold. Knowing when to offer a payment and when to try and negotiate a lower interest rate, can make the difference between a $600/month payment and a $1000/month payment.
For most people, we recommend speaking with your lender first and finding out if they will offer any options. If the option they offer is too expensive, or if it seems like they are setting you up to fail, you should speak with a home foreclosure expert and see if they can offer a better solution. Some people are worried about the cost of hiring a professional, but in the long run, it can save you thousands. Even the up front costs are usually lower, because the negotiator can eliminate most of the fees that your lender will charge. In many cases, all the back fees and interest can be eliminated and the loan can be re-written as if it were a new loan. This saves both up front and long term expenses. These types of deals are almost never given to homeowners who don’t work with a professional negotiator.
If you do decide to use our do it yourself option, it’s important to get started immediately. The more time you have the better, because if they turn you down, you’ll still have time to hire us to do it for you.
Hiring a professional can save you $1000’s in up front fees!
A standard “workout plan” on a foreclosed home is 1/2 of the arrears up front and the remaining arrears added to your monthly payments. This means you’ll be required to come up with a large down payment and you’ll have higher ongoing monthly payments. With a foreclosure specialist working for you, you can expect to get a much better deal. Some of these companies even have “inside people” at the banks, because they do so much business with them. They can get special deals and they will know immediately if you are qualified. This eliminates the hassle of paying someone, only to find out you were turned down later.
Understanding your foreclosure options is half the battle, so make sure you work with us to find out all available options before you start heading down the wrong path.
The form on the left will help you get started, so take a few minutes and sign up for your free membership today.