At Save My Home USA our goal is to provide homeowners in every city across America with an ethical, effective, alternative to foreclosure.
Get to know Savemyhome USA
ServicesLoan Modification Processing- A permanent change in one or more of the terms of a homeowner's mortgage. Forensic Analysis- A look at your current mortgage to see if there are any violations that could result in loan rescission. Reinstatement- Bringing one's loan back to current status. Restructuring- Homeowners that are current but find themselves owing more than their house is worth. Pre-Foreclosure Sale- Allowing the defaulting borrower to sell the property to satisfy the loan and avoid foreclosure. Short Sale- The lender accepts less than the total amount due on the current mortgage.
How the Foreclosure Process Works:
•Types of Foreclosure: Judicial Foreclosure
•Types of Foreclosure: Non-Judicial Foreclosure
•Right of Redemption in the Case of Foreclosure
•Deficiency Judgments in Foreclosure Cases
The Foreclosure Process: Understanding Foreclosures
• Note: The following is a generalized breakdown of the foreclosure process. If you're interested in finding out about foreclosure laws in your state, please see our directory of Foreclosure Laws for All 50 States.
• A foreclosure occurs when a property owner cannot make principal and/or interest payments on his/her loan, typically leading to the property being seized and sold.
• Loss mitigation is a set of programs set up by the government and lenders to assist homeowners threatened by foreclosure.
Stages of Foreclosure
• The foreclosure process is not very difficult to understand. There are several stages during which the homeowner has an opportunity to bring the loan current and avoid foreclosure. After about three to six months of missed payments, the lender orders a trustee to record a Notice of Default (NOD). At the County Recorder's Office. This puts the borrower on notice that he or she is facing foreclosure and starts a reinstatement period that typically runs until five days before the home is auctioned off. If the default isn't corrected (the loan must be brought current) within three months, a foreclosure sale date is established. The homeowner will receive a Notice of Sale , and this notice will also be posted on the property. In addition, the Notice of Sale is recorded at the County Recorder's Office in the county where the property is located. Finally, this Notice of Sale is also published in newspapers local to the county in question over a three-week period. The foreclosure Trustee Sale typically occurs on the steps of the county courthouse in which the property is located. The time and location of this sale are designated in the Notice of Sale. At the Trustee Sale, the property is auctioned in public to the highest bidder, who must pay the high bid price in cash, typically with a deposit up front and the remainder within 24 hours. The winner of the auction will then receive the trustee's deed to the property.Foreclosure Auction
• At auction, an opening bid on the property is set by the foreclosing lender. This opening bid is usually equal to the outstanding loan balance, interest accrued, and any additional fees and attorney fees associated with the Trustee Sale. If there are no bids higher than the opening bid, the property will be purchased by the attorney conducting the sale, for the lender.
If this occurs, and the opening bid is not met, the property is deemed REO or Real Estate Owned . This typically occurs because many of the properties up for sale at foreclosure auctions are worth less than the total amount owed to the bank or lender.
When you purchase property at a foreclosure sale, all junior liens other than property taxes are wiped out. Priority of liens is determined by the date of recording. When you purchase an REO, you will typically receive the property with a clean title.
Our Negotiation Process
Keeping you informed each step of the way.
Savemyhome USA's Blog Posts
Testimonials from some of our happy clients
At Save My Home USA, we are committed to assisting you with keeping your home. We will act on your behalf and negotiate with your lender. Whether your goal is to stay in your home or simply get out of it without going through foreclosure, we can help make it a reality.Mae Karns
"I want others to know my story so they may also be able to keep their homes. It all started when I had missed a couple of months work due to a serious illness. I started to look for help and encountered a number of so called "help" companies who were unsatisfactory and charged their fees up front." In addition.... Others just didn't provide enough service information or real contact information for that matter. I shared my problem with my co-workers and one of them had heard of an agency that could possibly help me. I called and spoke to one of your representatives, a Ms. Christy Sasser. She was honest, patient and always available for my request for information. Christy did everything possible to make this counseling process as smooth as possible. She informed me of every step I needed to make during the process and clearly told me what she expected from me. Christy stopped my foreclosure, which was scheduled three weeks away. I cannot say enough about their service. If you are experiencing financial hardship, give them a call as soon as you can. If I had called them earlier, I could have saved myself a lot of headaches."