Dedicated to consumer
advocacy and expertise in home ownership
preservation
oUR DEDICATED SERVICES
We offer a range of specialized services designed to protect your home and ensure your peace of mind. Our approach is centered on understanding your unique circumstances and delivering effective, practical solutions for home ownership preservation.
| Foreclosure Defense | Loss Mitigation | Deed in Lieu of Foreclosure |
|---|---|---|
| Understanding foreclosure defense tactics is crucial for homeowners facing financial difficulties. Common Defense Tactics *Loan Modifications: Homeowners can negotiate with lenders to modify the terms of their loans, making payments more manageable. *Bankruptcy Options: Filing for bankruptcy can provide temporary relief from foreclosure, allowing homeowners to reorganize their debts. *Challenging Legal Rights: Homeowners can contest the lender’s legal right to foreclose, especially if there are discrepancies in the mortgage documents. *Identifying Violations: Many homeowners can find violations of mortgage servicing rules that may invalidate the foreclosure process | Expert loss mitigation support in negotiating with lenders to achieve more manageable loan terms. What is Loss Mitigation? A job loss, pile of medical bills, or other financial hardship can lead a homeowner to face the prospect of foreclosure. In the mortgage-servicing industry, “loss mitigation” is when borrowers and loan servicers work together to lessen the loss when the borrower defaults. The lender, sometimes referred to as an investor, can take on less of a loss by finding alternatives to foreclosure, while the borrower benefits because they can stay in their home. | In this process, the mortgagor deeds the collateral property, which is typically the home, back to the mortgage lender serving as the mortgagee in exchange releasing all obligations under the mortgage. Both sides must enter into the agreement voluntarily and in good faith. The document is signed by the homeowner, notarized by a notary public, and recorded in public records. |
Types of Loss Mitigation
*Forbearance Mortgage payments are reduced or suspended temporarily. In forbearance, the servicer agrees not to initiate foreclosure, and the borrower must resume payments when the forbearance period ends. You can either pay the amount owed in full or add extra amounts to monthly payments until the skipped amount is completely repaid. | *Repayment Plan Can help you catch up if you’ve missed a few mortgage payments. This agreement lets you pay delinquent amounts over a certain amount of time. Typical repayment periods are around three to six months, after which you resume making payments per the original terms of the loan. | *Loan Modification Is when the loan is permanently restructured with changes such as a lower interest rate, extension of its term, or conversion from a variable interest rate to a fixed interest rate. In some cases, the lender can forbear part of the principal balance to be set aside and paid as a balloon payment upon loan maturity or if the home is sold or refinanced. |
Best-Case Strategy in Place for Success
Our mission is Consumer Advocacy Protection, Education, and Empowerment of every Homeowner. Our team is confident that we have the best-case strategy in place for success. Our dedicated team diligently assess your unique circumstances, meticulously examining all available options, and strategizing to select the optimal outcome that aligns perfectly with your goals and aspirations.
Overcome Your Obstacles. Let the Experts at THP Help You.
Reach out today and take the first step toward protecting your home.
| Step To Take | FAQ | About Us |
|---|---|---|
| *Know Your Rights: Understanding your legal rights is the first step in defending against foreclosure. *Seek Professional Help: Consulting with a foreclosure defense attorney can provide tailored strategies and legal support. *Act Quickly: Timely action is essential; delays can limit options for defense | *Reviewing Your Situation Our dedicated team diligently assess your unique circumstances, meticulously examining all available options, and strategizing to select the optimal outcome that aligns perfectly with your goals and aspirations. *Fighting for Justice Fighting for justice is a noble and essential pursuit that demands unwavering dedication and tireless advocacy. |