GOOD NEWS FOR HOMEOWNERS: Help may be right in your own files. Truth-in-Lending Laws can bring new hope to homeowners with payments exploding out of reach. (more)

DOES BANKRUPTCY PREVENT FORECLOSURE? Bankruptcy should be used as the "Insurance Policy" backing up the more practical, direct lender intervention prior to court involvement. (more)

WHY SHOULD YOUR LENDER WANT TO HELP US HELP YOU? Because HUD says they could be liable for TRIPLE DAMAGES if they do not.  (more)
HARDSHIP RIGHTS & SOLUTIONS…
HOW CAN WE HELP?
OUT OF COURT, LEGALLY. IN COURT IF NECESSARY.

We and our affiliated attorneys use “HARDSHIP PROGRAMS” hidden within investor agreements to stop foreclosure and restore affordable payments.  The “lender” who collects your payment is not usually the investor (owner of your loan), yet they are the “gatekeeper” for the investor hardship program you need… most mortgage loans have a hardship program built in on some level, yet daily we receive calls from homeowners who have been told by the “lender” (payment collector/servicer) that there is no help available to them.  Are they lying?  In a word... absolutely!  Often legal notice is required to obtain this hidden information.  Foreclosure rates are currently exceeding the number of hardship cases expected by the investors.  Legally pushing your case to the top of the stack is critical in obtaining the good faith review of your hardship case.

WHAT IS A HARDSHIP PROGRAM?

A "HARDSHIP" is an unavoidable circumstance which prevents you from making your mortgage payments. Sudden payment increase is an obvious hardship for your household. Your lenders failure to properly comply with Federal Truth-in-Lending Law by preparing you for the worst case scenario on your loan is an obvious hardship. Unemployment, medical expenses, emergency expenses, family issues, divorce, slow down in business income… are all hardships. A "qualifying hardship" is one which is considered allowable under the guidelines contained in those hidden, private investor/lender agreements.  

A “HARDSHIP PROGRAM” allows the lender to change your payments today, to prevent a foreclosure on the loan, for the benefit of BOTH the homeowner and the investor.  Again, often legal notice is often required to obtain specific information.  You do not need good credit for a hardship program.  It is expected that you have late payments on most or all credit and household accounts.  Fix your foreclosure first, and you have the basis for repairing your credit later.

The Foreclosure Education Center offers a FREE Case Analysis and Truth-in-Lending Compliance Audit CLICK HERE or call TOLL FREE 800-844-1513.

EXAMPLES OF HARDSHIP PROGRAMS WE USE TO STOP FORECLOSURE
Loan Modification:

Restructure of loan terms to make payments affordable to you.  This can include interest rate adjustment, stretching loan over additional years, or turning balloon payments into “regular” long term loans.
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“Capping” the Mortgage: 

Resuming previous payments, with overdue payments due at the END of loan term or when property is sold or refinanced.
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Reverse Modification: 
Resuming payments for 3 to 6 months to prove ability to pay, followed by either a “Capping” of the Loan, Modification, or Repayment Plan.
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Forbearance / Repayment Plan: 

Breaking up overdue payments over an affordable time period, without restructuring original loan. 
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“Short” Sale: 
Sale of property for less than what is owed on the mortgage, with homeowner cooperating and assisting in sale of property.  (Consult your tax advisor regarding potential tax issues.  This may be a taxable event.)
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“Deed In Lieu”
of Foreclosure:
 Giving ownership of the home to the lender by agreement to avoid foreclosure.  (Consult your tax advisor regarding potential tax issues.  This may be a taxable event.)
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Voluntary Foreclosure Postponement with Interim “Stay” on Payments: 
Usually used when homeowner has funds forthcoming to cure foreclosure, or sale of property is pending.
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Insurance Loan: 

Advance of mortgage insurance funds to cure default, repayable separate from mortgage loan.

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The Foreclosure Education Center offers a FREE Case Analysis and Truth-in-Lending Compliance Audit CLICK HERE or call TOLL FREE 800-844-1513.