Saving Homes From Foreclosure

We've been very busy helping people save their homes from foreclosure. The key to success is cooperation from the homeowner to get the information we need to save their home or work out some alternative than just letting their home go into foreclosure which ruins their credit and possibly their chance to buy again in the future. It also hurts the US economy and all of us.

When we accept a Client we have already screened them to see if the effort will be successful for them. We then ask them for about a dozen documents or papers to make our case with the lender.

Usually these items are:

• Borrower (s) authorization form for the negotiator to speak directly with your Lender on your behalf.- (We will supply one from your Lender)
  
• Hardship Letter – Back-up documentation for letter. (If illness medical records, bills, etc.; if divorce, dissolution agreement, if job loss – proof, etc.)
  
• Three (3) months copies or Bank Statements – ALL PAGES. (Includes – Checking Accounts, Savings Accounts, Money Market Accounts, Retirement Accounts, Stocks and Other Investments)
  
• Thirty (30) days of pay stubs
  
• A copy of your last two (2) years 1040s returns. (Federal Tax Returns – all schedules.)
  
• Credit Report – http://www.annualcreditreport.com/ - Equifax
  
• Detailed Monthly Budget – We will send you a form if you need one.
  
• Most Recent: Mortgage Statements, Homeowners Insurance, Property Tax Bill, Homeowner’s Association Statement
  
• Original Loan Application, Loan Disclosures, Good Faith Estimate, Copy of the Closing Statement, Copy of the Note, Copy of Deed of Trust, (if purchase loan – Real Estate Purchase Contract and Appraisal) and Credit Report used for the loan.
  
• Financial information must be supplied for each borrower either on original loan application or combined family income. Lenders need to see you can afford the new loan amount. So ANYONE that contributes to the household expenses should contribute their income statements and financials such as Bank Statements, EVEN if they are NOT on the loan.
  
• If self-employed borrowers must complete a 6-month to 12-month (depending on the time of the year) profit and loss statement.
  
• Copy of rental agreements for each investment property
  
• Profit and Loss Statement for each investment property (You can use last year’s tax return for the property and apply this year’s credits and debits.)
  
• Copy for your Driver’s License and Social Security card.
  
• Congratulations, you are done with the list!
  
  We can not modify your loan, do a loan workout, lower your loan principle, do a short sale setup, or anything without all of this paperwork, nobody can. Any delays in getting this paperwork just pushes our client further behind the eight ball.
  
  So if you are 'all in' and you want to save your loan and save your home, provide ALL of the requested paperwork from your negotiator like RescueMyLoan.com and help them help you!

What is a Loan Modification?

Loan Modification is a permanent change in the terms of your existing loan. Lenders may restructure your loan in a number of ways including a reduction in the interest rate, an extension of the length of the loan, adjusting the principal balance, forgiving any back payments or late fees. If you are behind on your payments, in fear of foreclosure, or anticipate not being able to afford your home loan, you may be a candidate for loan modification. Expect the Loan Modification process to take approximately 30-90 days. RescueMyLoan.com will take care of all the phone calls and complex negotiations.