OUR SERVICES
MODIFICATION
Note Negotiation is a great solution for a borrower who wants to remain in
their property, but cannot afford the current payment due to a recent adjustment
in the interest rate, or a financial hardship. In this situation, we can modify
the terms by negotiating the note to a lower monthly payment. Apply now, even if you
are currently behind on your mortgage payments a note negotiation may be the right
solution.
SHORT SALE
A Short Sale or Short Pay is when the lender agrees to accept a sales price of fair
market value rather than what you currently owe on your property. Many people find
themselves falling behind, or are already behind on their mortgage payments and
do not realize that there are viable options available. Even if you owe more than
your home is worth, a short sale can STOP foreclosure, as long as it is done properly
by a consumer advocacy expert. The lender agrees to take a loss on the property
and writes off the difference between what was owed on the property and the final
sales price. In most cases, the lender will take less than what is owed.
BENEFITS OF A SHORT SALE
Short Sales are a benefit to the consumer because they STOP foreclosure and prevent
the lender from suing for the difference between what is owed on the home and what
the home was sold for at auction.
A voluntary agreement with the lender will also STOP your credit report from meriting
an entry of FORECLOSURE. This is advantageous when qualifying for property in the
future.
Overall, a short sale provides peace of mind because you will know exactly what
to expect and give you ample time to vacate the property. You can avoid the risk
of a sheriff coming to your door to evict you.
DEED IN LIEU OF FORECLOSURE
The deed in lieu of foreclosure offers the borrower and lender several advantages
under certain circumstances. The best advantage to the borrower is that it releases
them immediately from all debts associated with the delinquent loan. Deed in lieu
also prevents the public notoriety of a foreclosure proceeding.
If you have been unable to make your monthly mortgage payments and have not been
able to sell your home at fair market value, a deed in lieu of foreclosure may be
the best option. Deed in lieu of foreclosure can help avoid foreclosure. The procedure
allows you to transfer the title to the property over to the lender voluntarily
and your debts are usually forgiven. The process will not save your home, but it
will protect your future. A deed in lieu is harmful to your credit, but it is less
harmful than an actual foreclosure.
REFINANCE
Even if you have been turned down by other lenders or mortgage companies, refinancing
may still be an option. With the new release of government sponsored programs a
refinance may be the best option to lower your monthly mortgage payment, consolidate
a high interest rate 2nd mortgage or pay of debt.
Contact TL Consumer Advocacy Group to determine the best option that will fit your
financial needs.