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We are an empowered workforce of compassionate and creative people who strive for excellence and are dedicated to serving our customers' needs with integrity and mutual respect. At Save My Loan, our mission is to assist our customers by providing superior customer service and loan support. Our team is dedicated to helping clients with the utmost integrity. The Truth In Lending Act & the Real Estate Settlement Procedures Act are utilized to bring your lender to the negotiating table. Our knowledge & use of these laws provides you one of many advantages you need to succeed. If you are a housing counseling agency looking for information about funding for future rounds, please visit the Foreclosure Prevention Programssection.
It is not Zillow's intention to solicit or interfere with any established agency relationship you may have with a real estate professional. The U.S. Department of the Treasury’s Office of the Comptroller of the Currency provides tips and materials to help homeowners avoid mortgage modification and foreclosure rescue scams. Come from an underwriting background and have worked with every lender or bank in the United States. Our goal is to level the playing field for you, the homeowner. Within 1 to 2 phone calls with a representative from our call center, you will know exactly what you qualify for to avoid foreclosure. Finally, you can take a very close look at your budget and cut everything you can.
Streamline refinance
Another way to pay off your loan early is by creating a bi-weekly payment plan. Put half of your monthly mortgage payment in a savings account every other Friday . At the end of the year, you will have made 26 half payments, which is 13 full payments. This will leave with you an extra payment that you can put toward your principal.
The sooner you can pay down your principal, the less interest you’ll be charged. Our counselors are here to help you every step of the way. You’ll have support from NACA so you won’t go through the process alone. If you think your home’s value has decreased in the last year and it was not properly accounted for in your tax assessment, you can petition your assessor and fight your assessment. Lowering your tax assessment will lower your yearly taxes. The Citizens Utility Board is a non-profit organization focused entirely on cutting your utility bills.
REAL ESTATE SOLUTIONS
If you have a deed of trust then the foreclosure process will follow a particular pattern that is guided by the federal and state laws. If you have a mortgage instead of a deed of trust, the foreclosure must be a judicial foreclosure. In this case, the lender will be required to go to court to get the property back.In a judicial foreclosure, you will have one year to redeem your debt.
They can communicate with your mortgage lender or servicer on your behalf and help you find legal representation if necessary. Counselors can also help you create a budget to manage your expenses and possibly stay in your home. If no other remedy is available, consider offering the lender a "deed in lieu of foreclosure." You essentially just sign the home over to the lender. While you do lose your home, this is not as damaging to your credit as a foreclosure.In most cases, a seller will not get any money from a short sale. If you give the deed to the lender, however, you may be able to negotiate moving costs with them to help you move out.
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Check with an attorney about your specific circumstances. If you have a second mortgage on the home, you may still owe money on the balance unless you also obtain a forgiveness of loan on this lien as well. Consider if you will be able to follow through with your end of the agreement.
Counselors review your mortgage and finances with you, discuss your options, and help you find a solution that is best for you. You can stop a foreclosure by working with your lender to request a loan remodification that will put a stay on the foreclosure process. You also have the option to file bankruptcy which will also put a stay on the foreclosure.
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Dana has been writing about personal finance for more than 20 years, specializing in loans, debt management, investments, and business. Not only will this test run help you grow your account balance for your down payment, but it will also help you decide if your new housing budget is realistic or will be too much of a stretch. Choose a credit counseling agency carefully, as some agencies charge exorbitant fees that will make you even worse off. If you're able to negotiate an arrangement with your creditors on the phone, ask them to send you a new contract with updated terms. You may need to write them a letter asking for confirmation.
If you still won't be able to afford to make the payments, the agreement won't do you any good. NACA Advocate follows up every ten days with the homeowner until an affordable solution has been rendered or determines the available next steps. The HomePath Renovation Mortgage – it is aimed at buyers buying a home in need of repair such as the real estate investors who are into the fix-and-flip business. Save My Loan is a diverse group of professionals who are your family, friends, and neighbors who have chosen to serve their fellow citizens nationwide, in their pursuit of an enriched life.
Not only does your remaining balance drop, but you will not have to pay interest each month on that principal for the remainder of the loan term. Foreclosure prevention counseling is a free service for Illinois homeowners who are having trouble with their home loans or might be in trouble in the future. Foreclosure counselors provide advice and services to help homeowners avoid foreclosure.
Veteran Affairs warrants a portion of the loan, which prompts the lender to provide you with more favorable loan terms. Its main benefit is that as a homeowner, you will not be held responsible anymore for the difference between the amount the home sells for and the amount owed on the mortgage. As a homeowner, you will also receive $3,000 for relocation assistance upon a successful deed-in-lieu or short sale.
Many people are forced to pay private mortgage insurance because their down payment is less than 20 percent. If you are in this boat, you can petition your lender to cancel the insurance as soon as your mortgage balance falls below 80 percent of the home’s appraised value. This can happen if your home’s value has gone up or you have repaid some of the principal. This may require a new appraisal but could shave hundreds of dollars off your monthly payment.
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