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How It Works - 3 Easy Steps
If you are facing the foreclosure process, you need to understand your options to prevent foreclosure. Foreclosure can be devastating to you and your family, both personally and financially. Our loss mitigation experts can help you stop foreclosure using these 3 easy steps:
Step One - Research Foreclosure Options
The first step that you need to do is to understand the foreclosure process in your state and understand the choices that you have with regard to the foreclosure process. The more quickly you react to stop foreclosure, more options will be available to you and the better your chances at saving your home from foreclosure.
At 1st Foreclosure Prevention, we are able to provide you some tools on understanding your foreclosure options and how to stop foreclosure right here. It is important that anyone who is facing the foreclosure process understand their rights, how foreclosures are enacted in their state and what options are available to them in this time of need. Get started right away to stop foreclosure or lower your mortgage payment by researching your options regarding the foreclosure process here.
Link to Free Foreclosure Information & Resources
Step Two - Give Your Unique Details
Our certified loss mitigation specialists are well versed in options regarding foreclosure in your state. Our team encompasses the entire country and can provide you with options to stop foreclosure. In order to accomplish this, we will need to evaluate your unique situation. You should provide us with all the details regarding your individual foreclosure situation.
Our experts will contact you to obtain as much information as possible so that they can come up with solutions to stop foreclosure or lower your mortgage payment. Everyone has a unique situation regarding their foreclosure. Our team of loss mitigation specialists will review your individual case based upon the details that you provide so that you can get your options to stop foreclosure right away. Whether you are in the foreclosure process already or if you feel that you might be heading for foreclosure, our loss mitigation experts are here to help. You can discuss your details with our professionals under complete confidentiality so that they can present you with your choices to stop foreclosure.
You can provide details to our team by calling (866) 477-7050 or right through this link and someone will get back to you shortly for your free foreclosure evaluation
Step Three - Work With Certified Loss Mitigation Specialists
After you have submitted your details, we can then analyze your case and come up with a plan of action to stop foreclosure. Our staff consists of certified loss mitigation specialists, attorneys, real estate professionals and negotiators who can help you prevent foreclosure. Once you are ready to begin, you can start working with our team of loss mitigation specialists who will be able to give you the foreclosure help that you need right away.
Do not fret about foreclosure - we are here to help you. Take these three easy steps and stop worrying about your foreclosure. Put your troubles into our hands and we can give you foreclosure help, stop foreclosure and in many cases, save your home. Begin with a free foreclosure evaluation and get started working with those who are on your side to stop foreclosure.
How Our Loss Mitigation Process Works To Stop Foreclosure
There are various ways that we can work to stop foreclosure. At 1st Foreclosure Prevention, we have a dedicated team of professionals on our staff who are there for you. Two options that we often recommend are a loan modification and a short sale. You may have some questions about how these work to stop foreclosure.
How a loan modification works
Our team of expert negotiators, loss mitigation specialists and attorneys will negotiate with the lender on your behalf to get your mortgage payments lowered. This can be one way to stop foreclosure. This works well if you have been out of work, have endured an illness that stopped you from working, are undergoing a current financial hardship, have been the victim of predatory lending practices, or even if your home is slated for a foreclosure auction.
The first thing that you need to do is to start working with our loss mitigation experts with a free foreclosure evaluation. They will tell you if this is an ideal option for you. Those who are ideal candidates for loan modification include people who are those who are in the following type of circumstances:
- Have been the victim of a predatory lender and now owe more than the house is worth;
- Have been laid off from work;
- Are behind on their mortgage for more than 30 days;
- Have a sub-prime loan;
- Have an adjustable rate loan;
- Have low documented income;
- Have little document income due to being self employed;
- Have excessive medical bills;
- Have experienced a reduction in income;
- Have experienced a catastrophic occurrence causing you financial hardship;
- Owe more on the house than the house is worth.
Once you have discussed this option with our loss mitigation specialists, we can proceed to help you stop foreclosure. We will send you forms that you need to complete and send back to us promptly. You will have to provide documentation regarding your current home mortgage as well as financial status. If you have not yet completed our online form for a free foreclosure evaluation, do so at once so that a loss mitigation expert can contact you. Information that we will request for a loan modification includes:
- Pay stubs
- Monthly debt expenses (credit card bills, student loans, car loans, etc.)
- Medical expenses
- Tax returns, 1099 or W2 Forms
- Utility Expenses
- Hardship letter and proof of loss of job if available (unemployment insurance benefits, dismissal letter from employer)
Once we have received your completed information, our team of loss mitigation negotiators will then start working on your behalf with your lender to re-negotiate the terms and payments on your loan
Once your loan modification is approved, you can save your home from foreclosure and keep your home, making lower monthly payments. Loan modification may or may not be the ideal way to stop foreclosure for you.
Another way how we work to stop foreclosure is through the short sale. This is where your home is sold before it goes into foreclosure. It does not have a negative impact on your credit and you get to walk away from the bad debt without having to worry about going through the foreclosure process.
How a Short Sale works
You will again want to get a free foreclosure evaluation and consultation. The short sale is ideal for those who are in the same situation as those who are seeking a loan modification, but who want to get out of the mortgage completely and stop struggling to make their payments.
After you have provided the necessary information to our team of loss mitigation specialists, we can then help with the short sale. In addition to expert negotiators, attorneys and loss mitigation specialists on staff, we also work with real estate professionals who can find qualified buyers for your property. Our loss mitigation specialists will then get to work in facilitating a sale of your property to a buyer that will satisfy your lender.
We will work with your lender to negotiate a deal that will satisfy both the lender and the buyer, even if the amount being offered is less than the amount that you currently owe on your home. We will make sure that the sale complies with the regulations of your state and allow you to walk away from this burden by simply dropping off the keys. We will also, unlike other loss mitigation firms, make sure that you are protected as much as possible against deficiency judgments from the lender.
If you are seeking a way to get a fresh start in life and leave the burden of your mortgage behind without having a negative impact on your credit, the short sale option may be for you.
If you are struggling to pay your mortgage each month and feel that you are heading towards foreclosure, or even if you are already in the foreclosure process, you need to know that you have options open to you to stop foreclosure. Get a free foreclosure evaluation today and let us give you the foreclosure help that you need.