Stay In Your Home Longer
The goal for most homeowners that we help is to find a way to stay permanently in their home, but if that is not an option due to the severity of their hardship, the next best thing is to remain in their home as long as possible, giving the homeowner time to prepare to move on.
With this end in mind, the Homeowner Foreclosure Prevention (HFP) program was created. The HFP Program was created and established to help aid with homeowners in distress and is available in almost every state. The HFP Program was created with strict guidelines to provide a “buy time strategy” to help the homeowner remain longer in their home when facing foreclosure. The result is that most homeowners can save money until their hardship improves, a permanent solution presents itself to resolve the loan with better terms or the home eventually is sold. The HFP Program is designed for homeowners that are either behind on their mortgage payments, facing foreclosure, experiencing a financial hardship, upside down in their loans (property is worth less than what they owe the bank), financial difficulties, etc.
Because no two hardships are the same, it is imperative that when a homeowner finds themselves facing a financial hardship to apply to see what might be available to them before it’s too late and all of their options have disappeared. The longer a homeowner waits, the fewer options that are available to them.
To apply online CLICK HERE or to speak to a foreclosure prevention specialist, call (760)273-4070Read More
Lower Your Payments
With the housing market turned upside down, the government has attempted to intervene by offering several programs for certain homeowners who qualify for assistance. Because there are so many programs and so many qualifications, it is best to apply online or call to discuss your situation with a foreclosure prevention specialist**. Some of the benefits of the various programs that are offered by the government are:
*Reduced interest rate.
*Extended term to repay the loan.
*Reduced principal balance (both temporary reductions and permanent reductions).
*Fixed rate or graduated interest rate with a relatively low fixed rate thereafter.
Most programs are primarily available to those who purchased their home prior to Jan 1, 2009, but there are other programs available to those who have purchased their home more recently. Some programs require the homeowner be current on their mortgage payments, such as the HARP Refinance program, but most do not require the homeowner to have their loans paid current to be eligible. Recent programs guidelines have extended assistance even to those who own rental properties that have become too much of a financial burden, whereas in the past, these programs were only available to homeowners who lived in the property.
To find out more about these programs and if you are eligible, contact us at (760)273-4070 or apply online by CLICKING HERE.
If you have been aware of all the fraud since the foreclosure crisis began, you’ll know that many companies have sprung up to try and assist homeowners. Many of those companies went out of business due to bad business practices and others went out of business because of bad business plans and they were lumped together and labeled as “scams”.
What most people don’t realize is a lot of those companies labeled as “scams” actually were not scams at all; they just had bad business plans, but took too long to get the results that homeowners were expecting.
Because loan modifications are approved based upon lender processes and guidelines, loan modification companies have little control over how much time it takes obtain a loan modification. In many cases it was this “unknown time” to get a loan modification approved that eventually bankrupt many of these companies who in the end could provide the service (albeit months later than anticipated), causing them to shut their doors; leaving homeowners out of money and further assistance. We refer homeowners to reputable companies that 1) provide a quality service and 2) have a solid business plan to keep their doors open as the long process of modifying a loan is completed.
**NHRC does not offer loan modification services, but will assist those interested in finding out if they are eligible and help those who may qualify for these programs to find a reputable agency or counselor to assist in applying for a loan modification.Read More
Reduce Financial Liability
To eliminate or reduce the risk of being sued by your bank requires careful consideration of all of your options and not blindly going into one single option. There are several ways to eliminate or reduce financial liability on a home mortgage, but the best option for you will depend on many factors, with the biggest being the State in which the property is located and the laws that govern the recourse options that your bank may have against you.
Below are a few of the ways in which your financial liability can be eliminated or greatly reduced:
*Let the home foreclose (in a few States this may eliminate some liability)
*Negotiated settlement of the balance
To know which option will be the best way to eliminate or reduce your financial liability, you should take into consideration several factors, including but not limited to, do you plan on staying as long as possible in the home, do you want to try and keep the home, are you only interested in getting rid of the home and the liability and when do you plan on buying another home.
Contact us by phone (760)273-4070 or by applying online to go over your goals and objectives and we can assist you in knowing which option is right for you and also assist you in connecting with the right team of professionals to execute the option that you decide to pursue.Read More