MORTGAGE DELINQUENCY MANAGEMENT

Is foreclosure knocking at your door? If you're having financial difficulties - you are not alone. The economic crisis has made it hard for many responsible homeowners to make ends meet. The good news is that many people who were finding it difficult to make their mortgage payment have been able to save their home, and you can too. Get in touch with one of our certified housing counselors and your servicer (the company to whom you send your monthly mortgage payment) today. A Certified Housing Counselor will thoroughly evaluate your personal financial situation and provide you with advice on how to avoid default, foreclosure, or bankruptcy. We recognize that your home is your most important asset and we will provide you with our extensive experience and service excellence to assist you in regaining financial control. Mortgage companies can offer payment plans and loan modifications. If you have an FHA mortgage, a partial claim is possible. Timely communication with your mortgage lender is key. Documentation usually required for mortgage delinquency appointment will include pay stubs and bank statements for the last three months, tax returns/W-2s for the last two years, and credit information.

LOSS MITIGATION

No bank really wants to foreclose on anyones home; it's the last option for them too. Now day's homeowner's have options for stopping their home from going into foreclosure. Our housing counselors can discuss with you, ways that loss mitigation can help you stop home foreclosure. If you are behind on your loan payments and are worried about losing your home, the first thing you should do is talk to your banks Loss Mitigation department. Most banks have different processes to handle these cases. The loss mitigation department will go through your case and suggest the best alternative for you. In fact, borrowers who have trouble keeping up with mortgage payments have a range of loss mitigations to choose from, from loan workouts to REO short sales. Most of these options require the homeowner to be in a valid financial hardship; the situation must be beyond the person's control, such as job loss, medical emergencies, and emergency service. Mounting foreclosures and a tanking economy have given rise to loss mitigation, a once-unknown industry where banks and borrowers work to minimize losses from defaults. Among the most common forms of loss mitigation today is loan modification, which involves negotiating with one's lender for more comfortable mortgage terms. The process has helped many troubled homeowners stay in their homes. Call the office nearest you for an appointment, in Scott County call 276-386-6441, in Lee County call 276-346-0054, and in Wise County call 276-679-5988.