Are you behind in your mortgage payments? Need honest foreclosure information? Want help to stop a foreclosure? Read on.

What are my options? There are several.

• Forbearance agreement • Loan modification
• Deed-in-lieu
• Short sale
• Foreclosure
• Bankruptcy
• Curing the loan
• Renting the house
• Selling the house

How much does your company charge for its services? Nothing. Zero. Nada. We don’t charge homeowners for our services. Lenders pay our fee to mitigate debt for them.

Why doesn’t my bank help me? In most cases they would like to help but find themselves buried with requests. Fact is, many homes end up in foreclosure because of the inefficiency of lenders. We are experts when it comes to working with lenders. We know what needs to be done and how to get it done quickly. We can assist you in dealing with your lender.

What is a short sale? When a lender agrees to sell real estate for less than what is owed. In effect, the lender is discounting the loan. A short sale is a win-win solution for the homeowner and the bank. The homeowner avoids a foreclosure (which ruins credit scores) and the bank saves time and money from costs associated with foreclosure.

Will I be responsible for the difference between the loan amount and the short sale amount? In some cases, yes. A lender may choose to hold the homeowner responsible for the difference between the short sale amount and the original loan balance owed. We diligently work with lenders and homeowners to arrange reasonable repayment should this be the case. However, in our experience a short sale deficiency is much less to worry about than compared to a foreclosure deficiency. Homeowners need to be aware with a foreclosure the lender can “dump” the property and still hold the homeowner responsible for the difference between the “dumped” price and the original loan amount.

What is a deed-in-lieu and how does that work? A deed-in-lieu is when a homeowner simply gives the house or property back to the lender and walks away. Lenders sometimes call this program “Cash for Keys.” The homeowner receives a small amount of money to move out quickly and not trash the house on the way out.

A deed-in-lieu is generally a bad idea for the homeowner. The bank gets all the benefits and the homeowner is left with bad credit. The bank saves about $50,000 in foreclosure proceeding costs and gets the property sooner rather than later. But many homeowners aren’t aware their credit report takes a direct hit (often 280-300 points) and the lender can still demand the homeowner pay the deficiency (the difference between what was owed and what the bank was able to sell the property for).

How does forbearance work? The lender adds extra payments to the end of the loan or adds part of the payments in arrears onto the current monthly payment. For example, if the mortgage payment is $1000 a month and the homeowner is 5 months behind, the lender may add $300 a month to the original payment. It will take almost 17 months to pay back the deficiency. Homeowners need to carefully weigh this option. If they are having trouble making the $1000@ month mortgage payment, how will they pay $1300@ month?

What is curing the loan? This is when a lump sum is paid to the lender to bring the loan current.

Does bankruptcy save my home from foreclosure? No! Bankruptcy is a temporary fix. Foreclosure proceedings will stop for a short period of time but there is no guarantee that you won’t lose your home in the long run.

When the meeting of creditors takes place in court, be assured your lender will be there. And 9 times out of 10 the judge will lift the home from the bankruptcy and foreclosure will resume immediately. Now the homeowner has a bankruptcy and a foreclosure on their credit report. Instead of having to wait 2 years to purchase a home again, it just jumped to 7.

Should I consult with an attorney first? Hiring an attorney is optional and is not required for our service. Keep in mind though, that an attorney is NOT a foreclosure expert.

How much is your service going to cost me? Nothing. Nada. Zero. Our services are free to homeowners.

How do we get paid? Lenders pay our fee. We mitigate debt for them by offering a reasonable pay-off on the loan. Lenders are relieved to save up to $50,000 in the foreclosure process. Besides, banks are not in the real estate business—they’re in the money business. In some cases, we purchase the house and recoup our investment later when the house sells.

What can I expect? Less stress. Honest information. And a future you are in control of. You’ll escape the 7-10 year damage foreclosure creates on your credit report. Many homeowners who team up with us purchase new homes in just 2 years.

Our team of foreclosure specialists will work with you to guide you through the short sale process. You will receive personalized attention and assistance. If you’re facing foreclosure, the road ahead is rocky and full of land mines. No doubt the ride you’ve already been on has been rough. Allow us to show you an easier route. You’ll get to where your want to be with less stress and more peace of mind.