Questions and Answers

Are you Upside Down on your property?

When a homeowner owes more than what the home is worth today, Example: Borrower did 100% Financing 2 years ago for a purchase or refinance cash out of $500,000.00 and today the property value is worth $300,000.00.

Do you have an Adjustable Rate Mortgage that has adjusted or is due to reset in the next five years:

This is the most common loan modification situation. When an ARM has adjusted, your payment may have adjusted from $2,000.00 to now $4,000.00 and you will most likely go into default on your payment.

Do you have to be late:

No, you don't have to be late on your mortgage payment to have a loss to mitigate. More often than not, you may start going delinquent and foresee potential danger of a foreclosure if you do not take action immediately.

Pay Option Arms:

Most of these Pick a payment Loans are starting to re cast and payments have already adjusted. You have several options available to Modify out of this Loan If you act fast you can still save your home and mortgage from this loan term. (Please discuss in detail with your Modification Specialist)

What is the deadline to participate in the new Government Program?

The deadline for this Program is December 31, 2012, so time is of the essence to complete your application and get it submitted. Contact us if you have any questions or need assistance.