foreclosure

Free Pre- Foreclosure Intervention

How is this possible?

Dream Home Organization, Inc is one of the nonprofit agencies part of the NFMC, National Foreclosure Mitigation Counseling; 2005, NeighborWorks America turned its homeownership expertise to the growing number of mortgage loan borrowers facing foreclosure and created the NeighborWorks Center for Foreclosure Solutions. The Center is an unprecedented partnership between leading nonprofit organizations as well as state, local and federal agencies and members of the mortgage lending and servicing sectors that involves a comprehensive, multi-faceted approach to the foreclosure crisis.

In December 2007, NeighborWorks America was named in the FY 2008 Consolidated Appropriations Act to administer the National Foreclosure Mitigation Counseling program .In February 2008, NeighborWorks America announced the organization had awarded $130 million to 32 State Housing Finance Agencies, 16 HUD-approved Housing Counseling Intermediaries and 82 community-based NeighborWorks organizations, to provide counseling to families and individuals facing the threat of foreclosure. It is estimated that 350,000 to 400,000 families facing the threat of foreclosure will be directly assisted with this funding — and many more will be helped by the training of foreclosure counselors, provided through the National Foreclosure Mitigation Counseling program.

CMHAP, Making Home Affordable plan, HASP Homeowner Affordability and Stability Plan is part of President Obama’s broad, comprehensive strategy to get the economy and the Housing market back on track. The plan potentially could help up to 9 million families restructure or refinance their mortgages to avoid foreclosure.

Borrowers that are interested in exploring their options and eligibility under HASP can contact a counseling agency for free counseling without being referred by a servicer. If it is determined they may be eligible for the loan modification or refinance program, the counselor will work with the borrower to submit an intake package to the servicer. This service is provided at a low cost or free of charge by nonprofit housing counseling agencies working in partnership with the Federal Government. These agencies will provide borrowers with the services they need to take advantage of HASP and avoid foreclosure. There is no need to pay a private company for these services.

Do You Want To Keep Your Home? We can help.

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We will review and help you with all the options available to you,
such as:

a) Full reinstatement: is when the client has the funds to bring the mortgage current

b) Forbearance: is when the lender does not have a program for that particular client, because they are unemployed and they cannot use the unemployment income, or sickness or a pre-established death, in this case Cancer, so the lender will give them a forbearance or moratorium, for a period of time, it can be from 3 to 6 month for a short term or 12 month for a long term, depending on the situation.

c) Repayment Plan: is when the client is experienced a temporary reduction in income or financial hardship, but are getting your finances back in order, this option lets you pay off the delinquency over a period of time by making your monthly payment plus a portion of the delinquent amount, each month.

d) Loan Modification: Modification Programs to include a wide array of hardship situations like layoffs, job loss or short-term income reductions, and permanent hardships like death of a spouse, disability, divorce, or severe medical situations. With these expanded and enhanced programs, lender may be able to modify or change the term of your loan, the interest rate, and in some cases, principal balance, to reduce the monthly payment to an amount you can afford.

e) Short Refinance: it is when another residential lenders other them the one that is presently holding the mortgage, the client will obtain a third-party loan to pay off your loan with us for less than the full amount owed and give you a fresh start.

f) Partial Claims-for FHA Loans Only: Client may be able to work with the lender to obtain a one-time payment from the FHA Insurance fund to bring your mortgage current.

g) Pre-Foreclosure Sale: if the client continues to believe that they will continue to have trouble paying your mortgage, selling your property now may be your best choice. If so, the lender may accept less than the amount owed.

h) Deed-in-lieu of Foreclosure: essentially a transfer of property to the lender for possible forgiveness of the entire debt. The advantages are that the lender may waive any amount you still owe if the property is subsequently sold for a loss, and you avoid having a completed foreclosure in your credit history.

Don’t wait call now for your Free Consultation!
Face to Face or Phone (954) 474-4884
7390 NW 5th street #4
Plantation, FL 33317