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Mortgage and Lending |
RAINER 4,828 |
| Savemyhome USA | ||
| location_on Troy, MI — Savemyhomeusa | ||
| insert_link http://www.Savemyhomeusa.com | ||
| web Savemyhome USA's (savemyhomeusa) Blog | ||
Services
Loan 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.
Foreclosure Defined
• 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
• 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.
Keeping you informed each step of the way.
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."
Maria k "Owning a home is one of life's greatest accomplishments. And being faced with losing it is one of the most devastating and frightening experiences anyone can ever imagine. Save My Home USA helped us survive this ordeal and assisted us in obtaining the desired resolution - saving our home. They handled us in a judgment free manner and with a level of humanity and compassion which we have never experienced before during any type of business transaction." Completed Modification Anthony Lewis "When I first came to Save My Home USA, I was feeling as if it was the end of the world for me. I felt like I had hit rock bottom... My [poor] health caused me to get behind on my mortgage and I felt like I had no control from that point on. The more I tried to get caught up, it seemed like I could never get ahead. I was leery at first... but as I spoke with [Save My Home USA] the fear went away. Thank you Tiara and Jermaine for saving my home! May God continue to bless the both of you!" Completed Modification Nicholas Primo "Thank you so much! Save My Home USA saved my home & made it so I could keep my house." Completed Modification Timmy Banks "I am saving over $2,000 a year! Thank you Keri at Save My Home USA for helping me keep my house." Completed Modification Jami Espinote "WOW... $450 a month savings! Went from a 9.75% to a 4.79% Thank you so much." Completed Modification David Moorer "My rate is under a 4.50%. Thank you so much. I can now sleep at night." Completed Modification Roger Wells "I can't thank you enough for the service you provide. You exceeded our expectations!." Completed Modification Matt Hoyt "SaveMyHomeUSA got my interest rate down to 5%... amazing." Completed Modification Emily Holcomb "Thanks SaveMyHomeUSA, now we can afford to stay in our home! Your staff was so helpful and understanding... a real comfort." Completed Modification Latoya Robinson "I was months behind on my mortgage, couldn't refinance, and couldn't even get the bank to talk to me. I turned to Save My Home and they were able to negotiate a rate reduction that will allow us to stay in our home! A thousand Thank You's!" Completed Modification Andrew Duggan "Our interest rate went from 10.75% to 5.125%, we were speechless at the result of our modification! We can't thank you enough!" Completed Modification Belinda Jones "We couldn't afford to make our payments and figured we were out of options, a friend recommended Save My Home USA to us and we gave them a shot. They were able to lower our monthly payment and keep us in the house, Thank you Andrea for all your help." Completed Modification Andrea Emerson "We initially tried to work with our lender on our own and couldn't believe the frustration and headaches. We turned to Save My Home USA and they were able to get the process going much faster and without all the headaches. Thank you for helping us keep our home with a payment we can afford." Completed Modification Cindy B "SaveMyHomeUSA helped us with our second mortgage and gave us some much needed relief. We will continue to recommend you to our family and friends, thank you for all your help." Completed Modification Randall White "Working with your team was great, they provided assistance and answers throughout the process. We highly recomend SaveMyHomeUSA, Thank you!" Completed Modification James Bryant "Our rate went from almost 10% down to 3%!! We are truly amazed at what your team has been able to do for our family. We can't thank you enough." Completed Modification Joan Cahill "We couldn't have been happier with our experience. From the begining till the completion of our modicication, everything was handled professionally and promptly! We will recomend you to any family or friends facing these tough times!" Completed Modification JoAnn Stevenson "We are saving thousands of dollars over the next couple years! We are so happy we choose SaveMyHomeUSA!" Completed Modification Juan Alverez "Our first mortgage went from 12.24% to 6%, and our second mortgage went from 18.49% to 9.25%! We can't begin to thank you for all your help!" Completed Modification Anthony Hubble "We were impressed with the professionalism of the staff at SaveMyHomeUSA. They kept us informed throughout the process and we couldn't be happier with the results!" Completed Modification Erin Riley "We couldn't refinance and thought we were all out of options! Thanks to SaveMyHomeUSA we can afford our payments." Completed Modification Preston Staley "Our adjustable rate mortgage was driving us out of our home. SaveMyHomeUSA was able to cut our interest rate in half and get us a fixed rate." Completed Modification Ben P "We are saving over a $1000 a month. Thank you for all your hard work!!" Completed Modification Chris Smalls "From the initial meeting through the follow-up conversations to after closing our case, your office has been a very professional organization providing honest opinions (both pros and cons) and strategies for the workout solution all with a low pressure atmosphere. I would highly recommend anyone looking to get help with their mortgage problems to at least contact you guys before signing a contract with any other counseling company or even their lender. You will be glad you did." Completed Modification Elsa Sanchez and Family "We needed some help stopping our foreclosure and with our overdue mortgage payments. You stopped our foreclosure in less then a week and helped catch-up our back payments. I also want to thank the United Way for recommending them; otherwise we would have lost our home. I would recommend your services to all of my family and friends! God Bless You! " Completed Modification Greg Harlson "Saving over $250 a month, thank you so much I can now make my payments" Completed Modification Tina Wilson "$1300 a month savings on my first mortgage. I can't thank you enough. God Bless you Tina" Completed Modification Crystal McCloud "You saved my life I could not refinance and you helped me take my rate from a 7.25% to 5.25%" Completed Modification Amanda Padden "I was down over $4,000 in back payments. You helped bring me current and dropped my rate 3%." Completed Modification Susan Miller "They saved me over $2500 a month. Simply Amazing!" Completed Modification Patricia Stevens "We were behind on our mortgage and facing foreclosure. Savemyhomeusa negotiated our ARM into a 30 year fixed at 4.2%.... now we can afford to stay in our home!" Completed Modification Anthony Deegan "They almost cut our interest rate in half, we had high hopes but were blown away by the results." Completed Modification Victor Hill "Save My Home USA got my interest rate down to 3%... Thank you so much!" Completed Modification Lisa McKenzie "After my husband lost his job and we fell behind on the payments we were looking at a grim reality. SaveMyHomeUSA was able to help us lower our payment and keep the house. We are back on our feet now and we couldn't have done it with you!" Completed Modification Paul Anderson "From our initial consultation through the entire process we were very pleased with the professionalism of your staff. We would highly recommend you to anyone else facing foreclosure." Completed Modification Bryan Reid "Thank you for saving our home! Your staff was always helpful and easy to work with during the process. Our new payment will really help us get back to our normal life!" Completed Modification Tiffany Osgood "Our second mortgage was killing us and we thought we were going to lose the house. I'm so glad a friend of ours recommended your company, we were pleased with the service during the entire process and the results were a life saver! Thank you again!" Completed Modification Annie Swartz "We were on the verge of losing our home when we contacted SaveMyHomeUSA, now we have a payment we can afford and were delighted to still be in our home!" Completed Modification Steven Frankel "We want to thank SaveMyHomeUSA, you were able to get our loan modified and now we can stay here for years to come!" Completed Modification Karen Sesto "We are saving over a $1000 a month, thank you from the bottom of our hearts!" Completed Modification Ryan J. "SaveMyHomeUSA did just that, our payment has been adjusted to something we can afford and we can begin the process of getting back on our feet." Completed Modification Leslie Willis "SaveMyHomeUSA was able to get our monthly payment lowered almost a $1000! We can finally sleep at night, thank you for all your hard work." Completed Modification Margaret Champine "SaveMyHomeUSA was able to get our loan modified and now we can afford to stay in our home!" Completed Modification William R. "SaveMyHomeUSA was able to save us over $1300 a month! You are a life saver! Thank you." Completed Modification Greg Schmidt "WOW, I'm saving $2800 a month. Thank you SaveMyHomeUSA!!!!" Completed Modification Richard T. "Our interest rate was reduced to 2.6%!! Now we can afford our payments again." Completed Modification Ashlee Harvick "SaveMyHomeUSA was able to get the interest rate on our second mortgage from 10% down to 2%. Thank you so much for your help, now we can sleep at night!" Completed ModificationAt Save My Home USA our goal is to provide homeowners in every city across America with an ethical, effective, alternative to foreclosure.
