Dear Customer-

Is your loan currently past due or delinquent? Have you recently received a 30 day demand letter or is your loan already in foreclosure? Please understand that we would prefer to work out a solution. While Foreclosure Advisors' primary objective is the collection of past due amounts on your loan, we do want to work with you to find the best available alternative to resolve your delinquency. We specialize in resolving delinquent mortgage loans and have successfully assisted many others, just like you, in similar situations for years.

Our preferred resolution is keeping our customers in their homes, and bring the accounts current thru reinstatements, forbearance plans and modifications of the original terms. In cases where the customers have no desire or ability to keep their home, we offer Deed In Lieu's, Shortsales, or postponements of foreclosure sales to compete selling the home.

If you would like Foreclosure Advisors, LLC to consider any kind of workout, please follow the link at the top of this page to download our Financial Form.

Reinstatement

A reinstatement is bringing the account completely current and curing all delinquent amounts in one lump sum payment. All foreclosure actions will be stopped immediately and in most States you have the right to bring the account current up to the last day before the foreclosure sale date.

DIL

A DIL, or Deed in Lieu of Foreclosure, is exactly what the name implies; Again depending on your financial situation, the State your home is in, and the remaining liens on your home, the bank may accept a DIL. You would simply deed the property back over to the bank, and they would forgive the remaining part of the debt no matter how much or little equity you have in your home. You would avoid "foreclosure" on your credit report.

Modification

A Modification is a modification of terms of your current mortgage and note. Depending on the equity in your home, the other liens on your property, the State your home is in, and your ability to make the monthly payments, Foreclosure Advisors may be: 1) willing to reduce the total debt outstanding on your home, 2) extend the life of your loan, or 3) reduce the interest rate that you have on your current loan. A combination of all of the above may be used so that you can keep your home and save your credit.

Payment Plan or Forbearance Plan

A Payment plan or Forbearance Agreement is a payment plan to catch up on your arrears over time.

Example:

Monthly payment amount $520.00

4 payments behind $2,080.00

4 late charges (@ $22.00/month) $88.00

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Total amount due (arrears) $2,168.00

Amount available right now $1,500.00

Remaining amount due $668.00

Payment for the next 4 months after $1,500.00 down payment: $687.00

($668.00/4= $167.00, monthly payment = $520.00, total payment $520.00 + $167.00 = $687.00)

Remaining delinquency after 5 months $0.00

Short Sale

A Short Sale or Discount Payoff is a payoff for less than the total debt of your mortgage(s) and other liens that are outstanding on your property.

Example:

The debt of your first mortgage is $121,000.00, the debt on your second mortgage is $17,000.00. The current value of your home is $130,000.00. You have an offer on the home for $128,000.00. Depending on your financial situation, your first mortgage may accept a payoff in the amount of $118,000.00, second mortgage a payoff of $1,000.00 and you save your credit from foreclosure and any remaining parts of the debt outstanding may be partially or completely forgiven.

First mortgage $121,000.00

Second mortgage $17,000.00

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Total Debt outstanding $138,000.00

Offer on home = $128,000.00

Broker commission at 5% = $6,400.00

Closing costs = $2,600.00

Discount payoff first mortgage = $118,000.00

Discount payoff second mortgage = $1,000.00

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Amount Owing $0.00