What Are My Options?
Facing foreclosure? Don't panic. We at Apex Investments understand the overwhelming pressure of saving your home. While government programs, lenders, and local agencies offer solutions, they might not always be the perfect fit. That's where Apex Investments comes in. We specialize in crafting unique strategies to help you navigate foreclosure and potentially keep your home that attorney may not be able to provide.
Every situation is unique. The specific solutions available to prevent foreclosure depend on your loan details and current finances. We hope our website empowers you to make informed decisions based on your specific circumstances. Remember, taking action is crucial. While you explore your options, keep in mind that foreclosure timelines move quickly. The sooner you address the situation, the more time there is to explore your options and potentially save your home. This revision removes the pressure tactics and emphasizes the importance of understanding your situation and acting promptly.
"What if I default on my loan?"
Missing a mortgage payment has serious consequences like damaging your credit, finances, and accelerating the mortgage. This report provides options for homeowners falling behind and basic mortgage knowledge. Understanding the system and your rights helps make good decisions when negotiating with lenders. Borrowers equipped with this analysis enter discussions from a position of strength
Let's Break it Down
So what Now?
Don’t lose hope! We’re here to answer any questions and guide you in your most important financial decisions.
Short Term and temporary Financial situation
MORTGAGE REINSTATEMENT
If you have enough cash, you can “reinstate” your mortgage by making up all the missed payments plus fees and interest the lender/mortgage company charges you in one lump sum..
FORBEARANCE
A temporary period of time during which a regular monthly mortgage payment is reduced or suspended.
REPAYMENT PLAN
A process in which a homeowner promises to pay down past due amounts on a mortgage while continuing to make regular monthly payments on a property.
Long Term and permanent financial situation
MORTGAGE MODIFICATION
A modification is any change to the terms of your mortgage loan, including changes to the interest rate, loan balance, or loan term.
SHORT SALE
A short sale is the sale of a home for less than the balance remaining on your mortgage. If your mortgage company agrees to a short sale, you can sell your home and pay off all (or a portion of) your mortgage balance. Consider this option if you can no longer afford your home.
DEED-IN-LIEU OF FORECLOSURE
With a Deed-in-Lieu of Foreclosure (DIL), you transfer the ownership of your property to the owner of your mortgage in exchange for a release from your loan and payments.