Loan Modification For your Investment Property

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Mortgage and Lending with Loan Modification

Loan Modification For your Investment Property

 

It is estimated that 13% of all foreclosures are investment properties. Investors....did you know you can get help with this? Just because it's not your primary residence doesn't mean it's not an important issue. Just because Obama's programs do not include investment properties doesn't mean you can't get relief. If you were to foreclose on your investment property, the lender would take a huge loss, same as if the property was owner-occupied. Therefore, a loan modification for your investment property is obtainable.

Do you have a delinquent tenant and can't afford payments?

Did you predict to have equity by this time but instead you are losing value, and now you can't sell for a profit?

Has your income been effected by the economy and you can't afford to hold multiple mortgages?

There are several ways to avoid foreclosure, but only you can determine which is best for you.

Short Sale-This option is available to you if you do not wish to keep your property. If you have suffered a long term financial hardship and are unable to maintain your loan or if you need to sell the property to avoid a default loss on the property, it is possible that the lender may be able to accommodate you with a short payoff. A qualified buyer is required. If this is an option you wish to pursue, you must inform the loss mitigation specialist assisting you immediately.

Bankruptcy is a temporary solution. You may get a couple of months relief, but your payment will be higher then what you started with and you will most likely have to include your primary residence in the Chapt 13.

Loan Modification For Your Investment Property

Loss Mitigation or Loan Modification may be the best long term solution for you. Think about it... when you bought your investment property you got stuck with a high rate because of the risk factor. What if you could get your rate reduced with out a refinance? How much lower do you think your mortgage payment would be? Much lower. Which means you could then lower the rent, and that would open the doors for many more potential tenants.

What if I told you I could assist you in saving your property(s) utilizing Attorneys to stop the foreclosure(s)  during the negotiating process?

What if I told you our Attorneys will fight for you to get the best modification possible?


What exactly do we do?

  • I will analyze your situation and take an application to see if you qualify for free. You do not have to pay a Retainer Fee until your case has been reviewed and accepted.
  • The Attorneys Legally place the foreclosure process on pause
  • Increased time to sell or rebuild your financial situation is an inherent benefit (Sometimes you are able to freeze your payments for up to 6 months depending on your hardship.)
  • Help stop harassing phone calls (tell your lender to contact your Attorney who will speak on your behalf)
  • Formulate a plan that fits with in the home owner's budget(reduced rate, 30-40 fixed term)
  • Work to have missed payments moved to end of the loan 
  • To work with your lender to provide you with the best modification that fits with in your budget
  • Work to reduce or eliminate 2nd or 3 rd mortgage, or ask for a principle reduction if you owe more than your loan amount. (rare but still happens)
  • To do everything possible to work out a solution. If your lender is unwilling to work with us, they need to provide a good explanation as to why. We will then talk to you about some other foreclosure prevention options that are available to you. Our mission is for you to keep your property, but this may not be beneficial to everyone. 
  • Provide you with a money back guarantee if for some reason they are unable to work out a solution that improves your current situation (which is about a 2% chance after having your case accepted),no questions asked!

 

Since you may have more then one property that requires foreclosure assistance, it's important to have experts work on your behalf. You need a licensed Attorney to provide foreclosure relief and negotiating skills to ensure you the best modification. Important!!! Steer clear of Loan Modification Companies, even the "attorney based" ones!

What I have done is my own research on individual Attorneys to ensure they are established and reputable.

I have complied a handful of Attorneys and Law Firms who:

1. Are in good standing with the Bar Association 
2. Are actual licensed attorneys who will be representing you and negotiating for you.
3. Have proof of success
4. Have passed my legitimacy test (scam free, and researched thoroughly through reliable resources.)
5. Have reasonable fees
6. Have the clients best interest in mind
7. Are structured and organized
8. Are in compliance with federal regulations and guidelines
9. Are helping homeowners in the State you reside in
10. Has a money back guarantee!


As you can see this takes a lot of footwork and many hours to develop. Each Attorney or Law Firm is unique in their own way and offer different services and have variable fees.

It is my job to know which  attorneys are established, trusted, and reputable. Most will work with owners that are at any stage in the foreclosure process, even pre foreclosure. During the negotiation period, the owners can still rent/sell/live in their home. The process should take 8-12 weeks depending on your personal circumstances.

 

More helpful blogs:

Hire Attorney or Loan Modification Company

Loan Modification  FAQ's

Why won't my lender won't work with me?

How to Prevent Foreclosure on Your Investment Property

Choosing a Loan Modification Company

www.KeepYourProperty.info

 

Feel free to contact me for further assistance at 407-219-8739 or cthompson@keepyourproperty.info. Or visit my website at www.keepyourproperty.info

 

 

 

 

 


 

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Show All Comments
Rainer
331,895
Danny Thornton
R & D Art - Knoxville, TN
WordPress Guru

Callie, I think that a lot of these investors got in on stated products and never really had the income to support the deals. A lot of these loans were pay option arms also.

Aug 12, 2008 11:13 PM #3
Rainmaker
93,920
C. Thompson
Loan Modification - Bethesda, MD
Loss Mitigation Cases

Very Good Point Danny thank you

Aug 13, 2008 08:44 AM #4
Rainer
27,626
Joseph Abreu
Abreu - Waterbury, CT

HI.

I understand that pricing varies but can you offer a range.

Thanks.

Aug 29, 2008 07:09 PM #5
Rainmaker
69,391
Mobile Austin Notary
Apostille/Authentication/Embassy Legalization, Notary Public, Loan Signing Agent & Process Server Services - Austin, TX
www.mobileaustinnotary.com

Thanks for the great information.Butterfly

Dec 03, 2008 11:47 PM #6
Rainer
27,626
Joseph Abreu
Abreu - Waterbury, CT

Hi,

I hope all is well.  Have the calls to your office increased or decreased?  I have noticed an increase in calls from first time homebuyers.

Thanks,

Joe Abreu

Abreu Realty, L.L.C.

Dec 29, 2008 05:18 PM #7
Rainer
1,455
Rick Bengson
Showing Suite, Inc. - San Diego, CA

I saw your blog posting about foreclosed properties. We offer a great tool to help you in competitive REO listings. www.foreclosurefeedback.com . The Asset manager's can login and see all of the feedback on their REO properties, see what you are doing to market them and print reports to document the need for price reductions. Call in to sign up instead of online and tell them Rick said to give you the first 90 days for free to try it out at 858-270-1055 ext 113. If your competition doesn't offer this, you will definitely have a leg up on them. Good Selling!

Rick

Jan 05, 2009 01:35 PM #8
Rainmaker
93,920
C. Thompson
Loan Modification - Bethesda, MD
Loss Mitigation Cases

Hi Rick,

 

Thank you for your comment. But I am not selling anything. I am offering a service to distressed homeowners.

Jan 12, 2009 05:15 PM #9
Rainer
27,626
Joseph Abreu
Abreu - Waterbury, CT

Hi,

Do you have clients in CT that may need my real estate expertise?  I am willing to assist homeowners and investors.

 

Joe

 

Jan 24, 2009 03:03 PM #10
Rainer
34,689
Steve Hula
All Star Real Estate - Clarksville, AR
All Star Real Estate - Team Hula

I have been told, by an attorney, that an individual can sell their home, as long as it is closed prior to the Foreclosure Auction date posted on the Foreclosure notice? An individual who is being foreclosed on has to be given 3 - 4 months prior notice from their lender.

Jun 12, 2009 11:13 AM #12
Rainmaker
13,523
ratemodify.com modify
www.ratemodify.com - Bothell, WA

As foreclosures are skyrocketing and with an increasing number being investment properties, this is good information to have.  Thanks Callie!

Jun 25, 2009 08:57 PM #13
Rainer
2,699
Rick Watson
My Loan Nightmare - Columbus, OH

we can send you referals,  check out our site:

 

Rick Watson

www.Myloannightmare.com

Savemyhome@myloannightmare.com

 

(to link sites, send us an e-mail)

Jul 18, 2009 01:31 PM #14
Rainmaker
80,016
April Solomon
Solomon & Associates Realtors, Inc. - Port Richey, FL
Realtor/GRI

Thank you for the information.  Are these services just for your area or other areas?  We are seeing commercial properties on the foreclosure lists in my area of Pasco County FL.

Aug 19, 2009 06:11 PM #16
Rainmaker
362,730
Sybil Campbell
Century 21 John T. Ferreira and Son Inc. 500 Centre St. Amelia Island, Fl 32034 - Fernandina Beach, FL
REALTOR ABR, SFR, SRES - Amelia Island

I'm glad to know there are reputable lenders who are helpig people with their mortgage.  So mny loan modification companies are sharks just like the predatory lenders of the past few years.

Aug 26, 2009 07:19 PM #17
Rainer
110,832
Charles Perkins
Charles G. Perkins, CPA - Burien, WA

I recently had a client get a loan mod done on an investment home.  She did it directly with the mortgage company.  It was several months in the doing but she did finally get it done.

Sep 04, 2009 02:36 AM #18
Rainer
127,421
Dan Quinn
Prudential PenFed Realty - Silver Spring, MD
Dan Quinn

C - So many people need help right now.  I wish you great success helping these people in their time of need.  I have several friends who I have referred recently who are biting their nails and waiting for an answer on their loan mods. 

I see you service all of the USA.  Good to know.

Good luck!

Sep 07, 2009 09:41 PM #19
Rainmaker
334,701
Matt Listro
National Credit Fixers - Matt Listro - Vernon, CT
Your Credit Repair Expert

Hi C: I heard the court ruling in the Countrywide case a couple of weeks ago will make it very difficult for lenders to make loan mods going forward as it opens them up to a lawsuit from their securitization investors.  What is your opinion?

:)

Sep 09, 2009 11:21 AM #20
Anonymous
Anonymous
investment property loan student

Looking around for an investment property loan. Have also considered going the private money route. Which is better these days?

Sep 01, 2010 10:30 AM #23
Anonymous
Anonymous
investment property loan student

so many options on getting an investment property loan...a lot to sift through

Sep 14, 2010 11:42 AM #24
Anonymous
Anonymous
kim kalman

want to confirm you are still in business with the same terms listed above...no cost up front (application fee), still doing loan mods on investment props?

thank you

Jun 08, 2011 01:24 PM #25
Rainmaker
238,236
Pat Fenn
Marketing Specialist for CJ Realty Group/Cindy Jones Broker - Springfield, VA
Looks like the SPAM bots had fun with your old post.
Oct 08, 2012 11:35 AM #26
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Rainmaker
93,920

C. Thompson

Loss Mitigation Cases
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