Nothing on this or associated pages, documents, comments, answers, e-mail, articles or other communications should be taken as legal advice for
any individual case or situation. The responses and information are intended to be general and should not be relied upon for any specific situation.
For legal advice, consult an attorney experienced in immigration law. This website is for general information and advertising only. It is not intended
as a substitute for seeking legal advice from a licensed practitioner. No attorney-client relationship is established nor intended by the author.
any individual case or situation. The responses and information are intended to be general and should not be relied upon for any specific situation.
For legal advice, consult an attorney experienced in immigration law. This website is for general information and advertising only. It is not intended
as a substitute for seeking legal advice from a licensed practitioner. No attorney-client relationship is established nor intended by the author.
LOAN MODIFICATION
For a very limited time, you have the opportunity to take advantage of the political pressure being applied to banks and mortgage
lenders to accept Loan Modifications and help keep home owners in their homes.
A loan modification is a change in the loan contract agreed to by the lender and the borrower. The modifications getting attention
now are those designed to reduce the payment burden on borrowers faced with impending interest rate increases that will make
monthly payments unaffordable to them.
Homeowners faced with this prospect, whether they are delinquent or not, should request a modification through our law firm. You
are unlikely to get such a change if you don't have legal and or financial representation, and you should make the investment
required to make the case. The stakes are very high: your house and your credit
Mortgage Modifications range from deferral of payments, extending loan maturities, converting adjustable rate mortgages into fixed
rate mortgages or full indexed rates, fully amortizing adjustable rate mortgages, capitalizing delinquent amounts. The best scenario
for the lender and yourself is a solution that will provide a long term resolution to the problem. Other strategies include reducing or
forgiving your principal. In the past, this resulted in the homeowner paying taxes on the reduced amount. However, recent legislation
has temporarily suspended this tax burden. At First Liberty Law Group, PLLC, we will take an application income/profit questioner.
We want to provide the lender with the best information possible to represent your case properly.
In most cases, the decision on a modification is not made by the firm that owns the loan. It is made by a firm servicing the loan under
contract to the owner. The owner could be a single lender, or it could be a group of investors who own pieces of a mortgage-backed
security collateralized by a pool of loans.
Whoever owns the loan, the servicing firm is contractually obligated to find the solution to payment problems that will minimize loss to
the owner. If the lowest-cost solution is a contract modification, that's great -- everyone involved prefers a modification instead of a
foreclosure. But if a foreclosure would generate lower costs for the owner, the decision will be to foreclose. The cost of foreclosure to
the borrower does not enter the decision.
Yet the decision is far from cut and dried, and it can be materially affected by whether and how the borrower’s case is presented.
Equity: Perhaps the most important factor affecting the modification decision is the amount of equity the borrower has in the property.
If the borrower has enough equity in the property to pay any deferred interest plus foreclosure expenses, foreclosure is almost
bound to be the lower-cost solution.
Mortgage Modifications range from deferral of payments, extending loan maturities, converting adjustable rate mortgages into
fixed rate mortgages or full indexed rates, fully amortizing adjustable rate mortgages, capitalizing delinquent amounts. The best
scenario for the lender and yourself is a solution that will provide a long term resolution to the problem. Other strategies include
reducing or
forgiving your principal. In the past, this resulted in the homeowner paying taxes on the reduced amount. However, recent legislation
has temporarily suspended this tax burden. At First Liberty Law Group, PLLC, we will take an application income/profit questioner.
We want to provide the lender with the best information possible to represent your case properly.
In most cases, the decision on a modification is not made by the firm that owns the loan. It is made by a firm servicing the loan under
contract to the owner. The owner could be a single lender, or it could be a group of investors who own pieces of a mortgage-backed
security collateralized by a pool of loans.
Whoever owns the loan, the servicing firm is contractually obligated to find the solution to payment problems that will minimize loss to
the owner. If the lowest-cost solution is a contract modification, that's great -- everyone involved prefers a modification instead of a
foreclosure. But if a foreclosure would generate lower costs for the owner, the decision will be to foreclose. The cost of foreclosure to
the borrower does not enter the decision.
Yet the decision is far from cut and dried, and it can be materially affected by whether and how the borrower’s case is presented.
Equity: Perhaps the most important factor affecting the modification decision is the amount of equity the borrower has in the property.
If the borrower has enough equity in the property to pay any deferred interest plus foreclosure expenses, foreclosure is almost
bound to be the lower-cost solution.
Equity depends on property value, which the borrower is much better positioned to know than the servicer. The borrower knows or
can easily find out how many houses in the neighborhood are for sale and what the trend has been in recent sale prices. In a
weakening market, it is easy for the lender to overestimate value, and the borrower must prevent that.
Moral hazard: Servicers fear that if they are liberal in granting modifications, borrowers who don't need a modification will seek one
anyway. They protect themselves against this by entertaining modification proposals on a case-by-case basis, while placing the
burden of proof on the borrower.
Borrowers must accept the burden of proof. In addition to the data on property value, they need to document that they cannot afford
the payment increase that is pending, and they must document what they can afford.
To do so, we calculate their total debt ratio: the sum of mortgage payment, other debt payments, property taxes and homeowner's
insurance as a percent of their gross (before tax) income. This number should be calculated as it stands now and as it would be after
the modification.
Servicing cost: Servicers have an interest in minimizing modifications because they add to costs. They try to keep costs down by
computerizing the servicing process to the greatest degree possible and standardizing customer support procedures so that low-paid
and easily trained employees can perform them.
A short-refi, short refinance, or also known as a short-payoff, is a transaction, where the current lender agrees to accept less
than the full amount owed on your property. This process is similar to a short sale but, instead of the property being sold, it is
refinanced with a new lender. The short-refinance allows the homeowner to retain ownership of the property, while at the same time
avoiding a foreclosure or possible bankruptcy and best of all wiping out negative equity!
How Does a Short Refinance work?
A short refinance transaction is a two part process. The first component is the equity re-negotiation with the lender. The second
component is obtaining the refinance loan approval. We can handle the both components for you and help you by obtaining the
refinance approval.
The process to complete a short-refinance usually takes 6-8 weeks. It can take longer, depending on the current lender! If you don't
have enough equity and you need mortgage relief, we can eliminate your upside down equity and put you in a position to qualify for a
refinance loan!This is how a short refinance works: You owe $200,000 on a house that you bought at the top of the market. Since
then house values in your neighborhood have fallen by 20 percent, and your house is now worth $160,000. The rate on your sub-
prime adjustable-rate mortgage has gone up, and you can't afford the higher payments. Instead of foreclosing, the lender agrees to
forgive $40,000 of the debt and refinances the mortgage for $160,000 -- a loan you can afford. Why can't a client call the bank
directly?Banks will never approve a short refinance without a legal counsel. If you are late on your mortgages and your home was
filed for foreclosure, banks will never approve you. We negotiate with your current bank as your attorney to approve a short
refinance and negotiate with a second bank to give you a mortgage with a lower loan amount.
lenders to accept Loan Modifications and help keep home owners in their homes.
A loan modification is a change in the loan contract agreed to by the lender and the borrower. The modifications getting attention
now are those designed to reduce the payment burden on borrowers faced with impending interest rate increases that will make
monthly payments unaffordable to them.
Homeowners faced with this prospect, whether they are delinquent or not, should request a modification through our law firm. You
are unlikely to get such a change if you don't have legal and or financial representation, and you should make the investment
required to make the case. The stakes are very high: your house and your credit
Mortgage Modifications range from deferral of payments, extending loan maturities, converting adjustable rate mortgages into fixed
rate mortgages or full indexed rates, fully amortizing adjustable rate mortgages, capitalizing delinquent amounts. The best scenario
for the lender and yourself is a solution that will provide a long term resolution to the problem. Other strategies include reducing or
forgiving your principal. In the past, this resulted in the homeowner paying taxes on the reduced amount. However, recent legislation
has temporarily suspended this tax burden. At First Liberty Law Group, PLLC, we will take an application income/profit questioner.
We want to provide the lender with the best information possible to represent your case properly.
In most cases, the decision on a modification is not made by the firm that owns the loan. It is made by a firm servicing the loan under
contract to the owner. The owner could be a single lender, or it could be a group of investors who own pieces of a mortgage-backed
security collateralized by a pool of loans.
Whoever owns the loan, the servicing firm is contractually obligated to find the solution to payment problems that will minimize loss to
the owner. If the lowest-cost solution is a contract modification, that's great -- everyone involved prefers a modification instead of a
foreclosure. But if a foreclosure would generate lower costs for the owner, the decision will be to foreclose. The cost of foreclosure to
the borrower does not enter the decision.
Yet the decision is far from cut and dried, and it can be materially affected by whether and how the borrower’s case is presented.
Equity: Perhaps the most important factor affecting the modification decision is the amount of equity the borrower has in the property.
If the borrower has enough equity in the property to pay any deferred interest plus foreclosure expenses, foreclosure is almost
bound to be the lower-cost solution.
Mortgage Modifications range from deferral of payments, extending loan maturities, converting adjustable rate mortgages into
fixed rate mortgages or full indexed rates, fully amortizing adjustable rate mortgages, capitalizing delinquent amounts. The best
scenario for the lender and yourself is a solution that will provide a long term resolution to the problem. Other strategies include
reducing or
forgiving your principal. In the past, this resulted in the homeowner paying taxes on the reduced amount. However, recent legislation
has temporarily suspended this tax burden. At First Liberty Law Group, PLLC, we will take an application income/profit questioner.
We want to provide the lender with the best information possible to represent your case properly.
In most cases, the decision on a modification is not made by the firm that owns the loan. It is made by a firm servicing the loan under
contract to the owner. The owner could be a single lender, or it could be a group of investors who own pieces of a mortgage-backed
security collateralized by a pool of loans.
Whoever owns the loan, the servicing firm is contractually obligated to find the solution to payment problems that will minimize loss to
the owner. If the lowest-cost solution is a contract modification, that's great -- everyone involved prefers a modification instead of a
foreclosure. But if a foreclosure would generate lower costs for the owner, the decision will be to foreclose. The cost of foreclosure to
the borrower does not enter the decision.
Yet the decision is far from cut and dried, and it can be materially affected by whether and how the borrower’s case is presented.
Equity: Perhaps the most important factor affecting the modification decision is the amount of equity the borrower has in the property.
If the borrower has enough equity in the property to pay any deferred interest plus foreclosure expenses, foreclosure is almost
bound to be the lower-cost solution.
Equity depends on property value, which the borrower is much better positioned to know than the servicer. The borrower knows or
can easily find out how many houses in the neighborhood are for sale and what the trend has been in recent sale prices. In a
weakening market, it is easy for the lender to overestimate value, and the borrower must prevent that.
Moral hazard: Servicers fear that if they are liberal in granting modifications, borrowers who don't need a modification will seek one
anyway. They protect themselves against this by entertaining modification proposals on a case-by-case basis, while placing the
burden of proof on the borrower.
Borrowers must accept the burden of proof. In addition to the data on property value, they need to document that they cannot afford
the payment increase that is pending, and they must document what they can afford.
To do so, we calculate their total debt ratio: the sum of mortgage payment, other debt payments, property taxes and homeowner's
insurance as a percent of their gross (before tax) income. This number should be calculated as it stands now and as it would be after
the modification.
Servicing cost: Servicers have an interest in minimizing modifications because they add to costs. They try to keep costs down by
computerizing the servicing process to the greatest degree possible and standardizing customer support procedures so that low-paid
and easily trained employees can perform them.
A short-refi, short refinance, or also known as a short-payoff, is a transaction, where the current lender agrees to accept less
than the full amount owed on your property. This process is similar to a short sale but, instead of the property being sold, it is
refinanced with a new lender. The short-refinance allows the homeowner to retain ownership of the property, while at the same time
avoiding a foreclosure or possible bankruptcy and best of all wiping out negative equity!
How Does a Short Refinance work?
A short refinance transaction is a two part process. The first component is the equity re-negotiation with the lender. The second
component is obtaining the refinance loan approval. We can handle the both components for you and help you by obtaining the
refinance approval.
The process to complete a short-refinance usually takes 6-8 weeks. It can take longer, depending on the current lender! If you don't
have enough equity and you need mortgage relief, we can eliminate your upside down equity and put you in a position to qualify for a
refinance loan!This is how a short refinance works: You owe $200,000 on a house that you bought at the top of the market. Since
then house values in your neighborhood have fallen by 20 percent, and your house is now worth $160,000. The rate on your sub-
prime adjustable-rate mortgage has gone up, and you can't afford the higher payments. Instead of foreclosing, the lender agrees to
forgive $40,000 of the debt and refinances the mortgage for $160,000 -- a loan you can afford. Why can't a client call the bank
directly?Banks will never approve a short refinance without a legal counsel. If you are late on your mortgages and your home was
filed for foreclosure, banks will never approve you. We negotiate with your current bank as your attorney to approve a short
refinance and negotiate with a second bank to give you a mortgage with a lower loan amount.
| STOP FORECLOSURE & SAVE YOUR HOME NOW! Are you one of 30 million households behind on their mortgage? Will you be one of over 5 million U.S. home owners to lose their home? Has your dream of home ownership turned into a nightmare? This DOES NOT need to happen to you or your family! |
A Loan Modification is a permanent change in one or more of the terms of a mortgagor's loan, allows the loan to
be reinstated, and results in a payment the mortgagor can afford.
Question 1: In utilizing the Loan Modification option to bring an asset current, can the mortgagee include all fees
and corporate advances?
Answer: Mortgagee Letter 2008-21 states in part: Legal fees and related foreclosure costs for work
actually completed and applicable to the current default episode may be capitalized into the modified principal
balance.
Question 2: May a mortgagee perform an interior inspection of the property if they have concerns about
property condition?
Answer: Yes, the mortgagee may conduct any review it deems necessary to verify that the property has no
physical conditions which adversely impact the mortgagor's continued ability to support the modified mortgage
payment.
Question 3: Can a mortgagee include late charges in the Loan Modification?
Answer: Mortgagee Letter 2008-21 states that accrued late charges should be waived by the mortgagee at
the time of the Loan Modification.
Question 4: When utilizing a Loan Modification option, can a mortgagee capitalize an escrow advance for
Homeowner's Association fees?
Answer: HUD Handbook 4330.1 REV-5, Paragraph 2-1, Section B, Escrow Obligations states: Mortgagees
must also escrow funds for those items which, if not paid, would create liens on the property positioned ahead of
the FHA-insured mortgage.
Question 5: Is there a new basis interest rate which mortgagees may assess when completing a Loan
Modification?
Answer: Yes, Mortgagee Letter 2008-21 states that the new basis interest rate is 200 points above the
monthly average yield on U.S. Treasury Securities, adjusted to a constant maturity of 10 years.
Question 6: Will HUD subordinate a Partial Claim, should a mortgagor subsequently default and qualify for a
Loan Modification?
Answer: If a mortgagor subsequently defaults and qualifies for a Loan Modification, HUD will subordinate
the Partial Claim.
Question 7: Are mortgagees required to perform an escrow analysis when completing a Loan Modification?
Answer: Yes, mortgagees are to perform a retroactive escrow analysis at the time the Loan Modification to
ensure that the delinquent payments being capitalized reflect the actual escrow requirements required for those
months capitalized.
Question 8: Is the mortgagor eligible for the upfront premium refund at payoff of a modified loan?
Answer: It depends upon when the closing date occurred. For assets closed: After July 1, 1991 but before
January 1, 2001, the 7-year unearned premium refund schedule shown in Mortgagee Letter 1994-1 remains in
effect, On or after January 1, 2001 that are subsequently refinanced, the 5-year refund schedule shown in the
attachment of Mortgagee Letter 2000-46 applies, or On or after December 8, 2004, refunds of upfront MIP are
eliminated except, when the mortgagor refinances to another FHA insured mortgage. The refund schedule
attached to Mortgagee Letter 2005-03 has been modified to a 3-year period.
Question 9: Can a mortgagee qualify an asset for the Loan Modification option when the mortgagor is
unemployed, the spouse is employed, but the spouse name is not on the mortgage?
Answer: Based upon this scenario, the mortgagee should conduct a financial review of the household
income and expenses to determine if surplus income is sufficient to meet the new modified mortgage payment,
but insufficient to pay back the arrearage. Once this process has been completed the mortgagee should then
consult with their legal counsel to determine if the asset is eligible for a Loan Modification since the spouse is not
on the original mortgage.
Question 10: What can loss mitigation do for me?
Answer: The goal of loss mitigation is to work out an agreement between the homeowner and the lender that
will stop foreclosure proceedings permanently. This allows the homeowner to stay in their home and protects
their credit history.
Question 11: How long do I have to act?
Answer: Time is of the essence when you are behind on house payments. Time is definitely not your friend in
this situation. Each day that passes makes it that much harder to get a work out agreement with your lender that
you can live with. The home foreclosure process can take anywhere from a few weeks to many months,
depending on your state law and the method of foreclosure your lender chooses to use.
Question 12: Several companies contacted me recently offering help. What makes First Liberty Law Group,
LLPC different?
Answer: There are many predatory companies who are not what they appear to be. Beware of unscrupulous
companies who are actually just interested in buying your house at big discount, or attorneys who just want to
take you into bankruptcy or companies that collect a consultation fee then do nothing for you. We have some of
the most experienced and well respected specialists in the industry whose sole purpose is to save your house,
not buy it, sell it, or send you into bankruptcy. Give us a call, speak with one of our professionals and judge for
yourself. The consultation is FREE.
Question 13: How much do you charge to start procedure?
Answer: Our low flat fees are based on your mortgage amount, and the complexity and urgency of your
situation. Our professional loss mitigation attorneys will evaluate your case and explain the best options to save
your home. We are confident that you will feel that our fees are a bargain compared to the cost of the
alternatives. We offer a money back guarantee if we cannot get you a work out agreement with your lender(s) as
long as no sale date has been set.
Question 14: I've already talked with my lender and they just want all their money. Can you still help me?
Answer: Yes. Most of our clients have experienced this kind of inflexibility from their lenders before calling us.
We get your bank to listen to your needs because we are your attorney, not a third party or service providers.
We have mitigated thousands of home foreclosure cases. That kind of experience gives us credibility with your
lender. Over the years we have developed positive working relationships with key people at most banks. Our
integrity and professionalism have earned us a reputation that allows us to be heard when no one else can get
through the red tape. We will use our experience and connections to your advantage.
Question 15: Should I file for bankruptcy to save my house?
Answer: No! That usually doesn't work. The American Bar Association has reported that 96% of homeowners
who declare bankruptcy end up losing their home to foreclosure anyway. Bankruptcy is very unlikely to help you
save your home. If you declare bankruptcy you will likely end up with BOTH a bankruptcy and a foreclosure on
your credit report.
Question 16: Do I need to have a special type of mortgage loan for Home Assure to help me?
Answer: No. We specialize in out-of-court resolutions of government and non-government mortgage
delinquencies or home foreclosure claims for homeowners. These can be FHA, Rural Administration, VA, Freddie
Mac, Fannie Mae, or conventional loans which have become delinquent.
Question 17: What if I can no longer afford my home? Can Home Assure still help me?
Answer: Yes. If you are certain that you cannot afford your home any longer and wish to sell, we can help you to
secure a short sale payoff or a deed-in lieu of foreclosure agreement with your lender. Often times these
agreements can be arranged at low or no cost to you.
be reinstated, and results in a payment the mortgagor can afford.
Question 1: In utilizing the Loan Modification option to bring an asset current, can the mortgagee include all fees
and corporate advances?
Answer: Mortgagee Letter 2008-21 states in part: Legal fees and related foreclosure costs for work
actually completed and applicable to the current default episode may be capitalized into the modified principal
balance.
Question 2: May a mortgagee perform an interior inspection of the property if they have concerns about
property condition?
Answer: Yes, the mortgagee may conduct any review it deems necessary to verify that the property has no
physical conditions which adversely impact the mortgagor's continued ability to support the modified mortgage
payment.
Question 3: Can a mortgagee include late charges in the Loan Modification?
Answer: Mortgagee Letter 2008-21 states that accrued late charges should be waived by the mortgagee at
the time of the Loan Modification.
Question 4: When utilizing a Loan Modification option, can a mortgagee capitalize an escrow advance for
Homeowner's Association fees?
Answer: HUD Handbook 4330.1 REV-5, Paragraph 2-1, Section B, Escrow Obligations states: Mortgagees
must also escrow funds for those items which, if not paid, would create liens on the property positioned ahead of
the FHA-insured mortgage.
Question 5: Is there a new basis interest rate which mortgagees may assess when completing a Loan
Modification?
Answer: Yes, Mortgagee Letter 2008-21 states that the new basis interest rate is 200 points above the
monthly average yield on U.S. Treasury Securities, adjusted to a constant maturity of 10 years.
Question 6: Will HUD subordinate a Partial Claim, should a mortgagor subsequently default and qualify for a
Loan Modification?
Answer: If a mortgagor subsequently defaults and qualifies for a Loan Modification, HUD will subordinate
the Partial Claim.
Question 7: Are mortgagees required to perform an escrow analysis when completing a Loan Modification?
Answer: Yes, mortgagees are to perform a retroactive escrow analysis at the time the Loan Modification to
ensure that the delinquent payments being capitalized reflect the actual escrow requirements required for those
months capitalized.
Question 8: Is the mortgagor eligible for the upfront premium refund at payoff of a modified loan?
Answer: It depends upon when the closing date occurred. For assets closed: After July 1, 1991 but before
January 1, 2001, the 7-year unearned premium refund schedule shown in Mortgagee Letter 1994-1 remains in
effect, On or after January 1, 2001 that are subsequently refinanced, the 5-year refund schedule shown in the
attachment of Mortgagee Letter 2000-46 applies, or On or after December 8, 2004, refunds of upfront MIP are
eliminated except, when the mortgagor refinances to another FHA insured mortgage. The refund schedule
attached to Mortgagee Letter 2005-03 has been modified to a 3-year period.
Question 9: Can a mortgagee qualify an asset for the Loan Modification option when the mortgagor is
unemployed, the spouse is employed, but the spouse name is not on the mortgage?
Answer: Based upon this scenario, the mortgagee should conduct a financial review of the household
income and expenses to determine if surplus income is sufficient to meet the new modified mortgage payment,
but insufficient to pay back the arrearage. Once this process has been completed the mortgagee should then
consult with their legal counsel to determine if the asset is eligible for a Loan Modification since the spouse is not
on the original mortgage.
Question 10: What can loss mitigation do for me?
Answer: The goal of loss mitigation is to work out an agreement between the homeowner and the lender that
will stop foreclosure proceedings permanently. This allows the homeowner to stay in their home and protects
their credit history.
Question 11: How long do I have to act?
Answer: Time is of the essence when you are behind on house payments. Time is definitely not your friend in
this situation. Each day that passes makes it that much harder to get a work out agreement with your lender that
you can live with. The home foreclosure process can take anywhere from a few weeks to many months,
depending on your state law and the method of foreclosure your lender chooses to use.
Question 12: Several companies contacted me recently offering help. What makes First Liberty Law Group,
LLPC different?
Answer: There are many predatory companies who are not what they appear to be. Beware of unscrupulous
companies who are actually just interested in buying your house at big discount, or attorneys who just want to
take you into bankruptcy or companies that collect a consultation fee then do nothing for you. We have some of
the most experienced and well respected specialists in the industry whose sole purpose is to save your house,
not buy it, sell it, or send you into bankruptcy. Give us a call, speak with one of our professionals and judge for
yourself. The consultation is FREE.
Question 13: How much do you charge to start procedure?
Answer: Our low flat fees are based on your mortgage amount, and the complexity and urgency of your
situation. Our professional loss mitigation attorneys will evaluate your case and explain the best options to save
your home. We are confident that you will feel that our fees are a bargain compared to the cost of the
alternatives. We offer a money back guarantee if we cannot get you a work out agreement with your lender(s) as
long as no sale date has been set.
Question 14: I've already talked with my lender and they just want all their money. Can you still help me?
Answer: Yes. Most of our clients have experienced this kind of inflexibility from their lenders before calling us.
We get your bank to listen to your needs because we are your attorney, not a third party or service providers.
We have mitigated thousands of home foreclosure cases. That kind of experience gives us credibility with your
lender. Over the years we have developed positive working relationships with key people at most banks. Our
integrity and professionalism have earned us a reputation that allows us to be heard when no one else can get
through the red tape. We will use our experience and connections to your advantage.
Question 15: Should I file for bankruptcy to save my house?
Answer: No! That usually doesn't work. The American Bar Association has reported that 96% of homeowners
who declare bankruptcy end up losing their home to foreclosure anyway. Bankruptcy is very unlikely to help you
save your home. If you declare bankruptcy you will likely end up with BOTH a bankruptcy and a foreclosure on
your credit report.
Question 16: Do I need to have a special type of mortgage loan for Home Assure to help me?
Answer: No. We specialize in out-of-court resolutions of government and non-government mortgage
delinquencies or home foreclosure claims for homeowners. These can be FHA, Rural Administration, VA, Freddie
Mac, Fannie Mae, or conventional loans which have become delinquent.
Question 17: What if I can no longer afford my home? Can Home Assure still help me?
Answer: Yes. If you are certain that you cannot afford your home any longer and wish to sell, we can help you to
secure a short sale payoff or a deed-in lieu of foreclosure agreement with your lender. Often times these
agreements can be arranged at low or no cost to you.
| Loan Modification Frequently Asked Questions |
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