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When Refinancing is not an option

n the midst of hard times when refinancing is not an option, you may need to find a mortgage negotiator to help lower your payments until you are able to pay. If you have late mortgage payments, have missed mortgage payments, or are in danger of foreclosure then a mortgage negotiator is what you need. Also know as loss mitigation or loan modification; the negotiator will represent you when discussing a refinance or loan modification possibility with your lender. The negotiator will evaluate your payment history, discuss solutions, and provide an answer for you. You don't have to lose the battle.

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Contract and Paperwork With Negotiator

Have everything placed in writisng so your work is organized and accessible for further discussions with your lender. During the negotiations, please note the discussions or progress of your case so your refinancing or loan modification possibilities will increase. This includes current pay stubs, two years of W-2 forms, scaled assets, and income tax returns.

Are there Refinance Solutions?

Refinancing your home does not have to be a continuous battle but with the changing credit market some details have changed. The mortgage negotiator can handle the details and lower your interest rates even though you may not actually refinance your home; it will be the same loan with some modification (reduction in rate or fees brought on by a pending foreclosure). There are still cases when you can actually refinance. Those options can be discussed as well. A lender may be receptive if you find the best negotiator to present your case, experience is key. There are a few solutions awaiting you as you work to save your home from forelcosure. As discussed you can modify your home loan through the same lender using a negotiator or loss mitigation expert (foreclosure credit professional and deliquency experts). Some of the possible solutions include:

  • Modified payments through a payment plan created by your foreclosure prevention specialist (loan modification or mortgage negotiator).
  • Extended grace period in which the lender allows you time to pay your mortgage without adding extra fees.
  • Waiver of fees and penalties with the possibility of starting with a clean slate

There are two alternatives, but the list goes on. At Real-Estate-Yogi.com, we can place you in the right position with the best mortgage negotiator in our network. The workings of your mortgage can harm your credit report if you do not find the best solution with your lender. If you are tired of handling this issue alone, please contact us today and we will have a mortgage consultant contact you directly.

Click here for a free consultation with a foreclosure specialist