Options for Keeping Your Home

You fell behind on your mortgage, but now you want to get back on track. We can discuss the following options to help you become current on your loan:

Discounted Loan Payoff – We may be able to provide a discount on the outstanding balance and outstanding monthly payments if you prefer to pay off the loan. If you have funds available in your savings, retirement account, or a family member or friend can lend a hand, this can be an option for you. Did you know that a homeowner is allowed to make a 401K withdrawal without penalty to avoid a foreclosure? See Retirement Plans FAQ from IRS .

Reinstatement – We can work with you to get you back on track with regular payments.  We work with you to figure out how much you can afford allowing for some savings along the way.  We can customize a payment plan based on your specific needs. Instead of going into foreclosure, your loan will become current.

Payment Plan – If your goal is to reduce your monthly payment, we may be able to do that by reducing the interest rate, changing the term of the loan, or decreasing the outstanding principle. EXAMPLE: We recently worked with a borrower who stopped paying their monthly payment of $525 because of medical problems.  We came up with a plan, based on information they provided on their income and expenses, and we were able to decrease the payment to $300 per month which also allowed them savings of $200 per month!

Payoff/Refinance – Completely pay off the entire loan amount plus any default amounts and fees. Typically this is accomplished by refinance of the mortgage loan. The new loan is usually at a higher interest rate, plus there may be a prepayment penalty because of the recent default. This option is available if the home is worth more than the payoff amount of the delinquent loan and assumes the homeowners still have reasonably good credit scores.

Get Started Now!

Contact Certis Financial at 888-411-0557 to start resolving your default.