Stop Your Foreclosure/Auction Threat
Let's Talk About Your Options
For Your Information
“Success is not final; failure is not fatal:
It is the courage to continue that counts.”
Winston Churchill
Loan Modifications
LOAN MODIFICATION or Mortgage modification is a process where the terms of a mortgage are modified outside the original terms of the contract agreed to by the lender and borrower.
Loan Modification can be a lengthy process and oftentimes do not return the results that were expected. There is a lot of legalize and the mortgage company will win because the borrower is desperate.
If borrower makes it through the paperwork maze, the mortgage company will put the borrower on trial period before the modification become permanent.
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Please note, while the borrower is dealing with the loan modification department, the foreclosure department is still processing the foreclosure. Too often, the borrower loses this race.
Let's Talk About it.
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Foreclosure Final Judgement
A FINAL JUDGEMENT is when your pending foreclosure is adjudicated. This a requirement for many states. Many homeowners think that a Final Judgement IS the foreclosure. However, it is not. The foreclosure is final when the property is auctioned off. In the meantime, the homeowner still owns full rights to the property. Plus, a foreclosure doesn’t show on your credit report until after the property is auctioned off. The simplest way to prevent that foreclosure 7-year negative report on your credit record is to pay the Final Judgement in full. Obviously, the hardest way is finding the money.
We have the money.
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Chapter 13 Bankruptcy
CHAPTER 13 BANKRUPTCY allows a debtor the length of the plan (36 to 60 months) to pay back “past due” amounts owed on houses, cars and other loans that have collateral. Filing for Chapter 13 Bankruptcy protection can postpone a foreclosure auction. However, you still must qualify for this Federal protection. To support a Chapter 13 plan, you must have a regular and reliable source of income and enough "disposable income", otherwise you are right back where you started, plus the attorney fees.
The trade-off for bankruptcy protection is it will ruin your credit for some time to come. A Chapter 13 bankruptcy can remain on your credit report for up to 10 years. You will also lose all credit cards. That negative credit report can affect many aspects of your life, such as car purchases, auto insurance premiums and even finding future employment.
Bankruptcy seems good at the time, but often regretted once in it.
We Have Another Alternative.
CVI assist homeowners that are about to lose their property due to financial struggles. CVI helps remove the financial burden and gives the homeowner a Fresh Start. A financial struggle can cause emotional stress and even physical problems. Peace of Mind is what we offer. Complete the Form and maybe we can provide you some Peace of Mind.
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"Let's Talk About It".
Unfortunately, we can not help everyone. But we will try!