FORECLOSURE SOLUTIONS TO AVOID FORECLOSURE
Weissman Law Firm is here to help you find a solution to your current predicament.
Did you know that you have options besides letting your home go into foreclosure? Foreclosure is far from a foregone conclusion. Our job is to give you a clear understanding of the alternatives available to you.
OOur experienced and dedicated counselors will work with you to find the solution that suits your situation. At the same time, our loss mitigation officers will negotiate with the bank for greater flexibility on your behalf.
We Are On Your Side!
- WEISSMAN LAW FIRM OFFERS OPTIONS SUCH AS:
- Repayment Plan – – If you are more than 60 days behind in your mortgage payments due to a short term financial setback, our loss our loss mitigation officers will negotiate with the bank to provide a special payment plan.
- Loan Modification – Our loss our loss mitigation officers will negotiate with the bank to modify your mortgage agreement by extending the term of the loan (to reduce monthly payments) or by lowering the rate of interest – or both.
- Partial Claim – If you have an FHA mortgage loan and are behind 4-12 months in your mortgage payments, you may be eligible for this plan. A second interest-free mortgage is created from the delinquency amount, payable to the Secretary of Housing Urban Development only after you finish paying off your first mortgage.
- Foreclosure Prevention – The recent housing crisis combined with the subprime mortgage crisis has increased mortgage foreclosure filings to a historic high. The foreclosure crisis in America today is affecting many homeowners that never believed they could lose their home to foreclosure.
- Special Forbearance – If you are in arrears of 3-12 months of mortgage payments due to short term financial hardship, you may qualify. This option divides up the past due amount and tacks it on to 12-18 consecutive monthly mortgage payments. In some cases it may be spread out over a more extended period of time.
- Deed-in-Lieu of Foreclosure – If attempts to sell your home have proven unsuccessful, you may qualify for a deed-in-lieu of foreclosure. With this method your house is given to the bank in a “cash for keys” exchange for cancellation of your mortgage.
- Short Sale – If your home is worth less than what you owe on it, you could consider a short sale. With a short sale, Weissman Law Firm could find a buyer for your home and ask your lender to take the proceeds of the sale to help pay off the mortgage, even when those proceeds are less than what is owed. A short sale can have a negative effect on your credit score, but this impact is generally less severe than a foreclosure. A short sale may be an option for you if are experiencing all of the following.
- a hardship, such as a job loss, divorce or medical emergency
- owe more than your house is worth
- unable to afford your current home loan
- unable to modify your current home loan
- VA Loan Refunding – If yours is a VA loan, the VA may buy the loan from the bank to help you save your home. The delinquency amount is then added on to the principal balance. The loan is subsequently re-amortized and becomes non-transferable.
- Help Stop Foreclosure – At Weissman Law firm we understand the ins and outs of foreclosure proceedings. Don’t trust the possible sale of your home to amateurs! Weissman Law Firm has the experience to stop the foreclosure process of your home and get the process on track to find the right solution.
Weissman Law Firm has had tremendous success in modifying loans.
With our experience with all major and mid level lenders we have the relationships and knowledge to get this done the correct way.
Please see below how horrible the process is for someone to do by themselves or if they choose a company with no experience.
Watch Congresswoman Maxine Waters below, get denied for a loan modification.
NIGHTLINE – Maxine Waters a California Congresswoman recently attempted to help a few of her constituents get a hold of their banks in order to re-negotiate the terms of their loan. What she thought would be a simple telephone call turned in to hours of being placed on hold and speaking mainly to automated voices.
After hours of trying to help Congresswoman Waters said, The average American trying to negotiate a loan modification will not be able to get it done,”
While the federal government and banks say they’re trying to help homeowners avoid foreclosure through various help lines and more, an ABC News investigation has found that the process of reaching out for help can be disorganized and frustrating, hardly consumer friendly, even when a prominent member of Congress is on the line.