Florida homeowners sometimes stumble financially and have a few hick ups making their monthly mortgage payments for personal, health, or work-related reasons. These are good borrowers who face real-life situations that present them with a unique financial obstacle and it may cause them to get behind on a few payments. The downside to this is that the financial bank or credit union may start a foreclosure process. This is a very mentally stressful time for the homeowner who many times has no place to turn to for help or guidance. We have successfully helped hundreds of borrowers save their homes and be able to get a fresh start with a new mortgage. Most banks, credit unions, or Alt-A lenders do not offer any alternative to helping the borrower. Your current mortgage lender may decide to work with you and make modifications to your current payment or help you catch up on late payments; however, this is not always the case. Often the Florida homeowner faces a foreclosure process and has about 2 months to either refinance, due to Chapter 7 Bankruptcy or the home will go to sheriff's sale. This is not an option we like to help our clients use the current equity in their home to pay off the current mortgage lender and help them start over with a new fresh start, saving the largest investment they have: their home.
1. Do not ignore this deal with it head-on. The more you delay, the harder it is for the new lender to help you.
2. Don't go into denial. If you reach out to your current lender and they can't help, please take action. The problem will not go away.
3. Please don't let the home be one week away from the foreclosure sale and expect any lender to close in one week. This is not fair to the lender.
4. When you find a new lender, get them the papers they need the same day or next day. Time is of the essence in this type of transaction.
5. Don't argue with your new lender they or the ones saving your home. Your current lender is foreclosing on you. Help the lender; don't create problems.
6 Work with your new lending team, Don't waste time. Every day is vital to helping your new deal close.
By following these steps, you will help yourself save a lot of time, patience, stress, and mental exhaustion, and give your new lender a fighting chance to save your greatest asset: your home.
By finding a hard or private money investor, they will use the equity in your home to help save your home from foreclosure. Also they or taking a chance that you will make your new mortgage payments on time. Hard and Private money usually besides filing chapter 7 is the only way to stop your foreclosure. These lenders are specialized in closing deals n 14 days or less especially when time is so vital and urgent with a foreclosure. Our Investors will visit your property, determine the equity in the home and place a 1st first lien against the equity only. Credit will not come into play. Hard money lenders and investors realize that good people have situations that arise that put a strain on their finances and strech them putting them in bad financial circumstances. They are willing to give second chances and help the homeowner get a new mortgage only against the equity in the property.
Steps in the Foreclosure Loan Process:
1. Call a Hard or Private Money Lender or an Investor
2. The investor will make an appointment to inspect the property
3. An approval will be issued if there is enough equity to make your deal happen.
4. You will get an application and documents to review and sign.
5. Please get your income documents to the underwriting team on time.
6. The underwriting team and investor may have you write a letter of explanation.
7. Oder title and appraisal no out of pockets expense to the borrower.
8 Get your final to close your deal.
9. Close your deal at the title company and save your home.
Following these simple steps will help give you 100% better chance of securing your new hard money loan, save your home, give you a fresh new start, save you time effort, and mental stress you would have faced if you lost your home. Our underwriting team has hundreds of years of experience saving homes, helping borrowers through the loan process, giving advice and making the whole foreclosure loan process more easier and less complicated. Our team will help you all over the state of Florida if your home is in Tampa, Ft. Myers, Naples Orlando, Sarasota, Tampa, Jacksonville, and Miami. We have a large network all over Florida ready to help you save your home. Thank you.