How to STOP Foreclosure Process
The best remedy to stop foreclosure is to have a forensic loan audit from Professional Loan Consultants, Inc. With a forensic loan audit from Professional Loan Consultants, we will investigate your loan to look to see if your lender committed fraud on your mortgage package. Why is this important? If your lender committed any type of fraud on your mortgage, you may be entitled to an extended right of rescission in which you may cancel your mortgage and your lender will be forced to return all interest paid on your mortgage.
At Professional Loan Consultants, we seek to help our clients get aggressive loan modifications to or a principal reduction in balance down to current market value and get mortgage payments reduced so your home is affordable again and fits your monthly budget regardless of your situation. Professional Loan Consultants Inc. has several remedies available that will help you prevent the foreclosure process so you can keep your home without having to worry about losing your home.
What is a “Loan Modification”?
A Loan Modification is a permanent change in one or more of the terms of a mortgagor's loan which allows the loan to be reinstated resulting in lower payments helping homeowners afford their homes. A mortgage modification is an excellent way to stop foreclosure for those who wants to keep their home and can’t afford their current monthly mortgage payments.
A Loan Modification is also another way to bring a mortgage current when behind mortgage payments. It also allows for a portion or the entire deficient amount to be added to the principal loan amount, reducing the delinquent balance. This allows homeowners to start making payments again without having to come up with the delinquent mortgage payments, legal fees and other costs associated with loans.
At Professional Loan Consultants, we help troubled homeowners with the Home Affordable Mortgage Program (HAMP). The HAMP program allows homeowners to obtain interest rates as low as 2.00%. Ask a rep at Professional Loan Consultants Inc. how you can get a HAMP Loan Modification to Stop Foreclosure and Keep Your Home.
Loan Litigation Process
At Professional Loan Consultants, Inc., we have matched ourselves with a team of proven defense attorneys to provide our clients with professional foreclosure defense to stop the foreclosure process. We conduct a full Mortgage Forensic Audit on all of our clients’ files including analysis of the Truth in Lending Act (TILA) violations and illegal terms and conditions. When lenders make TILA violations or write illegal loans, their loans may not be enforceable and can result in serious legal implications and costs to the lender to remedy the situation.
Foreclosures resulting from illegal loans are not enforceable. The foreclosure process is literally STOPPED when litigation on a questionable loan begins. Mortgage payments may NOT be demanded by the lender during the foreclosure or litigation process. The best way to determine if your mortgage contains VIOLATIONS is through a Mortgage Forensic Loan Audit with Professional Loan Consultants. Our trained mortgage professionals conduct a forensic audit on all of our files.
At Professional Loan Consultants, Inc. we conduct a Mortgage Forensic Investigation on EVERY one of our clients’ files. A forensic audit is an extensive and thorough examination of your loan documents that you signed when you first obtained your mortgage loan. Our mortgage and legal experts examine your loan documents looking for any State and Federal violations. In order to effectively get your lender to modify your loan, you must know what violations were committed by your lender and be able to use them against your lender in federal court. By bringing the foreclosure case to federal court, the property now enters the litigation process. While a property is under litigation, the foreclosure process is put on hold until the courts have resolved the case. This can easily allow the homeowners more time to get back on their feet financially and may stop the foreclosure process all together.
The Mortgage Loan Forensic Audit conducted by Professional Loan Consultants, Inc., is the key to obtaining a favorable outcome during the Loan Modification process as it will give you the best chance to get your loan modified successfully. We use these violations as leverage to negotiate your case with your lender. Generally, the more violations and the higher their severity, the better chance you have of obtaining a better loan modification. Since the litigation process takes several months or years, you may be able to stay in your home without making mortgage payments for an indefinite amount of time.
After performing a thorough assessment of your personal finances and analyzing the original loan documents and disclosures associated with the loan, the Forensic Loan Audit will document what laws were broken by the lender and/or the mortgage broker during the loan process. The Forensic Loan Audit will determine if the mortgage is even legal. Many of the current loans that exist today are illegal and may not be enforceable.
If you are in foreclosure or close to missing your mortgage payments, the best way to stop or delay foreclosure is to have Professional Loan Consultants, Inc. conduct a forensic loan review on your loan and then let us negotiate your loan modification with our loan litigation process.
Reverse Mortgage
A reverse mortgage is another remedy that can stop or prevent the foreclosure process. A reverse mortgage is designed for seniors over the age of 62 that have equity in their homes and uses equity to provide monthly cash flow or a lump sum payment which can be used to pay down debt or stop foreclosure. A reverse mortgage can stop the foreclosure process and may allow you to stay in your home as long as you live. Reverse mortgages can also provide you with a monthly payment as agreed by your lender. This monthly payment is in place of seniors making regularly scheduled payments and can provide seniors with an extra income source to help cope with rising costs of living.
A reverse mortgage allows seniors to live without having stress of wondering where they are going to get the money to live, without having to rely on credit cards or family members. Through a recent study, it has been determined that many seniors are not skipping meals and splitting pills just to survive. If you or any loved one is suffering from financial stress, please contact our offices so we can give you more information about a reverse mortgage.
Reverse mortgages are an excellent way to manage the equity of your home without having to sell your home. Homeowners receive money from their lenders and do not need to pay it back as long as they live in their current house. These loans are heavily regulated by the Federal Trade Commission and are a safe approach to preventing foreclosure as they are insured by the Federal Housing Authority, also known as FHA.
Short Sale
If you do not want to keep your home, a short sale is a perfect remedy to prevent foreclosure if you owe more on your house than it is currently worth. With a short sale, your mortgage company agrees to accept a lesser sales price on your home and sell it for the current market value even though you may owe more on the existing loans. Your lender will accept a lower amount as payment in full and final payment on your mortgage. At Professional Loan Consultants, our professionals will negotiate a short sale with your lender so you may not be liable for the difference between the net sales price and amount and the amount owed on your mortgage. This is very important because inexperienced negotiators or real estate agents may be worried about their commissions and may end up neglecting your best interests.
Short sales are an excellent solution for those who are unable to afford or no longer desire to keep their property. If you are delinquent on your mortgage and want to get rid of your home, contact one of our consultants to find out more about the short sale process. With a short sale, you may protect your credit from having a foreclosure appear on your credit report which will enable you to recover faster and enable you to qualify for another home loan again much sooner.
Deed in Lieu of Foreclosure
Another way to prevent foreclosure is a deed in lieu of foreclosure. This is the process of deeding your home back to your lender. You will give your lender a properly prepared notarized deed and the lender forgives you for the amount of money you owe on your mortgage. This effectively cancels all foreclosure actions and will help protect your credit from the pit falls of having a foreclosure appear on your credit report. This is an excellent solution for someone who does not want to keep their property.
People who do Deed in Lieu of Foreclosures are typically people who overpaid for investment properties they that are constantly losing money or have dropped significantly in value, or people who just don’t want their homes anymore for numerous reasons. Professional Loan Consultants can help you deed your property back to your lender.
About Professional Loan Consultants, Inc.
Professional Loan Consultants, Inc. is a group of experienced mortgage professionals and attorneys who devoted their practice to help protect people from losing their homes to foreclosure. In this economy, everyone has suffered financially from the many different hardships including falling behind on their mortgage. Professional Loan Consultants, Inc. works with lenders to find protect their clients from foreclosure. Through our many remedies, Professional Loan Consultants, Inc. works directly with your bank’s Loss Mitigation Department to help you stop foreclosure, keep your homes and re-negotiate your mortgage, making your payments affordable through our “Loan Modification” process. If you are facing foreclosure, call one of our representatives today by dialing 630-286-9276 to arrange a private and free consultation and get the professional help to get your loan modified.
So Go Ahead and Call Us Now at 1-630-286-9276
We have a team or experienced professionals to help you stop foreclosure. At Professional Loan Consultants, we work with experienced attorneys, real estate agents, and licensed mortgage loan originators to help you keep your home regardless of what your banker tells you. Whether you are looking for a reverse mortgage or even want to do a short sale, Professional Loan Consultants has the team in place and can help you with your foreclosure needs.
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