What if Your Lender Refuses to Negotiate a Deal to Re-Set the Loan to Current?

The first goal in dealing with secured debt is to have the lender negotiate a plan to bring the loan back to current status. If you are behind 3, 4 or more payments (and these days, millions of borrowers are behind by as many as 7 to 12 payments!), the best solution is to have the lender agree to a plan where most or all of the arrearage is either deferred to the end of the loan or canceled altogether. RISK FREE strives to make these arrangements for a modest fee (Secured Debt How it works ») and guarantees results (Secured debt guarantee») But if your lender won’t let you make these arrangements, or if you wish to walk away from the secured property, there are alternative solutions which RISK FREE can arrange.

Short Sales

Most lenders allow distressed homeowners whose home is valued less than their mortgage balance to put their home up on the market for a discount from the loan balance and when the home is sold, the lender accepts the deal anyway, releasing the homeowner of all further obligation. This is called a “short sale”, and it is another way of getting you relief from the duty to make payments. There are adverse effects on your credit compared with making the previously-agreed payments on time, but the effects are far less negative than a foreclosure, because the lender has agreed to participate in the transaction. RISK FREE is willing to help arrange your short sale, referring your home listing to a reputable realty agent and handling paperwork with your lender through the date of the sale closing for modest fees which match those for negotiating other secured debts (link - secured debt fees) We offer the same guarantee of results, successful short sale closing. Secured Debt Guarantee »

Deeds in Lieu of Foreclosure

Once your home has been on the market for 90 days or more without any pending offer, most lenders will entertain the option of allowing you to turn over the home and keys by way of a deed “in lieu of foreclosure”, which means “instead of” losing your home in a formal sheriff’s sale. This saves the lender plenty of money which it would have to spend arranging a formal sale, and waiting the statutory 6 month redemption period to take over the property, so it is to their advantage to allow this procedure. Often, a release is issued by the lender, absolving you as borrower from all further debt. Like a short sale, this hits your credit a bit, but is much less derogatory or negative than a full blown foreclosure. RISK FREE can help arrange your deed in lieu paperwork for modest fees which match those for negotiating short sales or negotiating other secured debts (link – secured debt fees). We offer the same guarantee of results, successful deed-in-lieu closing. Secured Debt Guarantee »

NO MATTER HOW YOU RESOLVE YOUR SECURED DEBT ISSUES WITH NEW NEGOTIATED ARRANGEMENTS, SHORT SALE OR BY DEED IN LIEU, RISK FREE CAN HANDLE IT FOR MODEST FEES!