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Depending
on your exact situation, you lender may be required to offer
you a solution to repay your missed payments and avoid foreclosure with a Mortgage Forbearance Agreement.
These special repayment plans are called "Special Mortgage Forbearance
Agreements" and you could request this type of payment plan from your lender's Loss Mitigation department or the Mortgage Forbearance Agreement Department.
A special
mortgage forbearance agreement is a written repayment agreement between a lender
and a mortgagor that contains a plan to reinstate a foreclosure loan that
is a minimum of three payments due and unpaid. |
If you
qualify for a Special Mortgage Forbearance agreement, you may be allowed
to postpone monthly mortgage payments for a minimum of four
months. While there is no limit on the maximum number of months for a mortgage forbearance agreement,
at no time may the agreement allow the delinquency to exceed
the equivalent of 12 monthly payments.
Sometimes
it is very east to make these mortgage forbearance agreements with your lender;
however, many lenders make this difficult for you to do on your
own. We will help you work with your lender's loss mitigation department to determine if you qualify for the guidelines
and give you the direction you need to work with your lender and set up a special mortgage forbearance agreement.
Simply
fill out the evaluation form below to find out what type of
mortgage forbearance agreement plan you qualify for by receiving a free, personalized foreclosure e-book that contains instructions, guidelines,
and documents that can be used to negotiate a mortgage forbearance agreement with your lender and find the right person to talk to in loss mitigation. We will also provide you with a free listing that will put you in direct contact with investors and lenders who are able to provide funding to immediately stop foreclosure or help with your special mortgage forbearance agreement.
Take
me to the Evaluation Form now
