Our Solutions....
For complete transparency these are the main talking points our associate will touch on in our conversation with you about your situation. Please familiarize yourself with these options so that you are prepared to work through them with us over the phone or during our in person consultation. Also depending on your situation we also may have up to six additional suggestions that may help so please go back to the welcome page and fill out the form to start your consultation process.
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Personal Loan
Is there a family member or friend that will loan you the money to help get you back current?
Pros - Quick money with little to no interest rate, comes from someone you know that trusts you
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Cons - could damage a close relationship if not paid back, could damage your reputation to family or friend group
Loan Modification
Sometimes a bank is willing to take your late payments, move them to the back of the loan, allowing you to start fresh.
Pros - Fresh start
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Cons - The procedure is rarely accepted by banks at a 13% approval rate and they usually increase the interest rate by half or sometimes double depending on your history along with added fees and penalties. You must also prove that you can make payments. Lots of paperwork for you to draft and complete
Refinance
In some cases you can attempt to refinance the loan. This will essentially reappraise your homes value and repackage a loan instrument around that and the amount you're behind on in payments into a completely new loan.
Pros - Fresh start
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Cons - closing costs can cost thousands, your interest rate could increase by half up to triple the original amount, lots of paperwork
Loan Forbearance
Most bank loans offer a forbearance program that will allot you a certain amount of time to catch up to payments.
Pros - additional time and opportunity to catch back up, usually little to no cost or negative impact from fee's or credit hit
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Cons - One time allowance, Bank will not accept if you wait too long to inquire about the program
Payoff/Catch Up
The most simple solution is if you are able to simply payoff the loan or even catch back up in payments by whatever amount is due.
Pros - Quickest most simple and affective solution,
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Cons - Securing the funds may be difficult or impossible to accomplish
Sell home
Depending on how behind you are, and how willing the banks are open to working with your situation, your best solution that may give you the least stress is to sell the home.
Pros - Best plan B if all else fails, could potentially put money in your pocket, get your loan paid off by someone else, problem becomes someone else's headache
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Cons - Some paperwork
There are a few more options so please get in touch with us immediately....
We would like to stress that like you, we are also apart of this community, and are here only to offer advice, assistance, and ultimately a solution out of your problem. For this reason our 30min consultation is completely free. Depending on your understanding of the situation, most consultations can be solved within this timeframe, however as long as we are making progress, we will be happy to remain a phone call away for more questions or concerns you may have during the process.
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We also understand everyone has unique circumstances, and that though our knowledge of solutions is the full and most recognized methods for foreclosure, distressed properties, and unwanted properties, our solutions may not best suit your ultimate desire. As long as we are able to give you the best information available and provide clarity for your situation you will leave with our best wishes for whichever route you attempt to take on your journey.
Heather Brooks, Foreclosure Specialist
From my own personal experience, foreclosure is one of the scariest things a family can go through. At the time I was a typical oblivious teenager watching my mom suffer through depression and unthinkable amounts of stress as my father left everything on her. Services like those provided by PTN and INTB would have probably been a God send for her which is why I've chosen to learn about foreclosures and work in this career field. I pray that no other family goes through what I witnessed....
