AVOID & STOP FORECLOSURE

We offer real help:  I offer assistance to local homeowners who are in need of our specialized help in preventing home foreclosure.  Our purpose is to assist homeowners who are experiencing delinquent mortgage payments by providing alternatives to foreclosure.  (There are no gimmicks or quick fixes!) 

If you are behind on your mortgage payments, or are getting very close, do what hundreds of other local homeowners are doing and turn to us for assistance.  We specialize in working with homeowners just like you.  Our unique service allows us to work with all the local and national lenders to resolve your mortgage situation. Do not wait.  Time is against you.

Do You Answer YES to Any of These Questions:

BEHIND ON PAYMENTS ... NEED HELP?

We know it's not your fault: We live in the area.  We understand that hard working people sometimes encounter unforeseen circumstances and fall behind on financial obligations.  We do not focus on the reasons why you are in need, but rather how to end the problem.

Your situation is NOT impossible, even if others have told you so.  We are so confident of this that our fees are contingent upon resolving your mortgage problems.  We do not charge you unless we are successful.  You have no risk or up front expense.

There is limited time due to the foreclosure process.  Call now: 314-651-9900. 

Our services are confidential and guaranteed. 314-651-9900

Whatever you do, don't declare bankruptcy, which stays on your credit for years, before calling us.  We have hand selected professionals who can help you.  We provide effective real help for - VA, FHA, conventional loans and privately held notes. No equity or credit is needed. Most homeowners are not aware of all their options.  We invite you to take a few minutes of your time and assess your situation.  You have a choice.  You have numerous options over foreclosure.

You may qualify for a SHORT PAYOFF: Aslo called Short Sale, a Pre-foreclosure Sale and/orCompromise Of Sale: If you have suffered a long term financial hardship and are unable to maintain your loan or if you need to sell the property to avoid a default loss on the property, it is possible that the lender may be able to accommodate you with a short payoff. A qualified buyer is required. If this is an option you wish to pursue, you must inform the loss mitigation specialist assisting you immediately. There may be tax ramifications associated with any short payoff or foreclosure; therefore, we recommend you contact your tax advisor for details. Some states permit lenders to seek a deficiency judgment for the amount the payoff was discounted. See your state’s foreclosure law for more information. Check with an attorney for advice on your personal situation. Click here to request help for a short sale.

What is Foreclosure?

 A foreclosure is the legal process by which a property, pledged as collateral for a debt is sold to satisfy the debt. When a borrower obtains a loan from a lender he agrees to two very important conditions of the loan, and he pledges the property as collateral.

#1: He promises to make payments according to the terms and conditions of the loan,

#2: he pledges his home as collateral.

If the borrower fails to make a payment, he is in default. When the lender accelerates the loan or activates the due on sale clause (in other words, 'call the loan due and payable') or starts the legal proceedings against the borrower, in order to force the sale of the collateral property to satisfy the loan, this is the process know as foreclosure. Foreclosure is often thought of as an ending event. You hear people say, “he got foreclosed on, or he is in foreclosure”. Well, foreclosure is not an event, it is a process.

Lenders refer to the process as: (see # 1 in the Foreclosure Process chart)

Day 1 Hardship Occurs Payment due

Day 31 Late Letter and call from Customer Service

Day 60 Default Calls and Letter ref NOD

Day 90-120 Preforeclosure / Workout File sent to Loss Mitigation ( calls and Letters)

Day 120-180 Preforeclsure/ Lis Pendis File sent to Attorney

Day 180+ Foreclosure property sold

If you are in or nearing foreclosure and need help CLICK HERE  to ask for help. Do not wait.  Time is against you.

In other words: Home foreclosure is a process by which a lender regains a property which they have financed. Typically, this is because the borrower or homeowner is behind on house payments and is unable to catch up, often due to circumstances outside of his or her control. When the lender forecloses on the homeowner, the homeowner must move out of the house, therefore, losing all possession of the property and jeopardizing any possible equity that the homeowner may have in the home. There is a legal time frame, which varies from state to state, which determines how long the foreclosure process can take.

Specific Options Homeowners’ Have:

Forbearance – lenders may let a borrower pay less than the full amount of the mortgage, or skip a few payments, if there is a reasonable plan to bring the loan current. Contact your lender/loss mitigation representative.

Reinstatement- A homeowner may be able to make a payment that covers all of the previous late payments, usually at the end of a forbearance period.  Contact your lender/loss mitigation representative.

Repayment Plan- Lenders may allow a borrower who has fallen behind to make

additional payments each month until the past due amount has been paid.  Contact your lender/loss mitigation representative.

Loan Modification- Lenders will sometimes change the terms of a loan to help a

homeowner avoid foreclosure.  Contact your lender/loss mitigation representative. Options include these:

1: Adding all the missed payments to the loan amount and increasing the monthly payment to cover the larger loan.

2: Giving the homeowner more years to pay off the loan, lowering the interest rate, and/or forgiving part of the loan to lower the monthly payment.

3: Requiring amounts for taxes and insurance to be included with the monthly

mortgage payment to avoid large bills in addition to the mortgage.

Debt Forgiveness- A homeowner could be allowed to sign over the property to the lender in exchange for debt forgiveness, an option that can damage credit but one that is better than having credit history of foreclosure. Contact your lender/loss mitigation representative.

Short Sale – A short sale is when the lender agrees to accept less for the property than is actually owed on the property. To request information and be evaluated for a short sale - click here.

You Can Get Help

We can help you exercise your options to stop foreclosure. Your lender does NOT want to take your property. YOUR LENDER JUST WANTS THE LOAN PAID:

Finding a way to work with your lender is the best means of avoiding foreclosure on your home. We DO NOT want to buy your home. We are not investors.  We are short sale specialists who will try to stop foreclosure, and protect your credit history. When we take on a client we obtain a work out solution more than 90% of the time. 

You Have Foreclosure RIGHTS

In January of 2001 The U.S. Department of Housing and Urban Development (HUD) issued guidelines mandating that all borrowers with FHA loans that fall under HUD regulations be informed of their rights to mortgage loan work out programs.  See HUD ML2002-12.  The Veteran's Adminstration (VA) also has a great many entitlements that can keep a Veteran out of foreclosure. You may be entitled to federally mandated FHA/HUD or VA loss mitigation assistance from your lender to stop foreclosure by:

• Reducing your interest rate
• Extending the time to pay back of your loan
• Putting your past due payments in to the balance of your loan
• Putting the past due payments on to the end of your loan
• Selling your house for less than you owe the bank
• Giving the house to the bank or the government in exchange for what you owe

Call your lender to find out how you might qualify under these regulations. 

Missouri Foreclosure Laws

This page provides details about foreclosure law designed to help users look after their own legal needs. But legal information is not the same as legal advice. The application of foreclosure law to your specific situation should be approached with caution and perhaps some legal advice. Although we go to great lengths to make sure our information is accurate and useful, we recommend you consult a lawyer if you want professional assurance that our information, and your interpretation of it, is appropriate to your particular situation. Click here to request foreclosure prevention information.

 Missouri

When you develop a definite plan of action with well-timed, well-informed steps, you can stop the foreclosure process and save your home. We have outlined the foreclosure process for the state of Missouri.

The Process

Missouri permits two types of foreclosure:

1.       Judicial, and

2.       Judicial under a power of sale clause.

In judicial foreclosure the lender may file a petition in the office of the circuit court against the borrower and the tenants or occupiers or property. The petition states the nature of the mortgage and formally requests the court to render judgment for amount of the debt, to foreclose the equity of redemption (preventing the borrower from recovering the property by paying the mortgage) and to order the property sold to satisfy the amount due. Such a lawsuit will be handled in the same manner as other civil lawsuits. The borrower may be served in person or by constructive notice through publication if personal service efforts prove to be fruitless.

Power of Sale Foreclosures

Missouri permits foreclosure under a power of sale clause in a mortgage. Before proceeding with a foreclosure sale under the power of sale clause, the lender must give the borrower 20 days notice of the sale, whether or not the mortgage or deed of trust provides for such notice. The property must be advertised for sale as follows:

1.       In counties with over 50,000 inhabitants, the notice foreclosure sale must be published at least twenty times in the daily newspaper and continued to the day of sale.

2.       In counties with under 50,000 inhabitants, the notice foreclosure must be published once per week on the same day each week in a daily, tri-weekly, or semi-weekly newspaper for four successive issues, with the last publication to be not more than one week prior to the foreclosure sale.

An affidavit of the printer or publisher may serve as evidence of publication.

Mailing of the Foreclosure Notice

The trustee who conducts the foreclosure sale must mail notice of the foreclosure sale not less than 20 days prior to the scheduled date of the sale to the following parties:

1.       The borrower named in the deed of trust or mortgage at the last known address for the borrower.

2.       The person shown by the office of the recorder's deed of records to be the owner of the property as of 40 days before the foreclosure sale, to the last known address shown in the lender's records for such recorded owner.

3.       Any person whose name and address is set forth in, request for notice that has been duly recorded 40 days in advance of the foreclosure sale date

The notice must be in the following format:

In accordance with R. S. MO 443.325, request is hereby made that
notice of sale under the deed of trust (or mortgage) recorded
the ___ day of ____ 19__, (as recorder's number ____ or in Book ___,.)
of the records of County, Missouri, the legal description of the property
being __ in ____ County, Missouri, executed by ____ as Grantor
(or Mortgagor) in which______________ is named as beneficiary
(or Mortgagee) and____________ as Trustee, be mailed to ___ (Name)
at _______________(Address) _____. (City) _____, (State).

(Signature)

_______________________

_______________________

(Acknowledgment)

Receipt of Foreclosure: Notice Not Necessary

The borrower does not have to receive the envelope containing the notice of foreclosure pursuant to a deed of trust or mortgage. Recording of the receipt issued by the U.S. Post Office for certified or registered mail to evidence that the envelope has been delivered by the sender to the U.S. Post Office shall constitute proof of compliance with the notice requirements.

Trustees

The person named in the deed of trust or mortgage must conduct the foreclosure sale. However, if the trustee is dead, neglects this duty or is incapacitated, a new trustee can be appointed if the lender files a motion in court requesting a new trustee, and the court feels the circumstances justify an appointment, in which case the sheriff or another suitable person approved by the Judge can conduct the sale. A foreign corporation may not be a trustee for foreclosure in the state of Missouri, unless a co-trustee who is a resident of Missouri is named. Certain nearby states can authorize a Missouri corporation to act in a fiduciary capacity for an outside corporation. A trustee may collect a 2 percent commission on the first $1,000,1 percent on sums over that amount but under $5,000, and 0.5 percent on sums over that amount.

Sale Procedures

The trustee must conduct the sale in a fair manner at the time and place and in the manner specified in the notice of foreclosure, the deed of trust and the statute. The property is to be called out for sale and sold to the highest bidder. The lender may purchase at the sale, but if it does so, a right of redemption applies.

Redemption

If any person other than the lender, or someone purchasing on behalf of the lender, buys the property at a fairly and properly conducted foreclosure sale, then no right of redemption exists. If, on the other hand, the lender buys at the foreclosure sale, as is so often the case, then the borrower has a right to redeem the property for one year from the date of sale.

In order to obtain the right of redemption, however, the borrower must meet many requirements. First, the borrower must give the trustee or other person conducting the sale advance notice, ten days prior to the sale, of the borrower's intent to redeem. Second, the borrower must arrange a bond on which there is one good surety, besides the borrower, who can stand good for a sum of money equal to the interest that would accrue throughout the year on the mortgage, and on any prior lien loan, together with the foreclosure costs, taxes and assessments, and furthermore, a sum equal to 6 percent of all the sums bid by the successful bidder at the foreclosure sale, whether they were advanced in cash or not. The bond must be sufficient to cover any waste or damages inflicted on the property by the borrower. The bond must be in place 20 days after the sale, or else the borrower has no right to redeem.

 Frequently Asked Questions

 How do we stop foreclosure? Our company specializes in resolutions of mortgage delinquencies or home foreclosure claims through the short sales process on your behalf.  We perform a detailed financial analysis and work with you to determine your best alternatives. If we feel your situation may be resolved by a lender we recommend you approach that lender first.  If you are able to refinance or work with other mortgage professionals we are happy to provide referrals.  If a short sale is your best solution, we ask for all your financial documentation, review it and review your lender's loss mitigation policies and make foreclosure prevention plan  .

 How much time do I have?  Time is of the essence when you are behind on house payments.  Each day that passes makes it that much harder. The home foreclosure process can take anywhere from a few weeks to many months, depending on themethod of foreclosure your lender chooses.

How do I know who to trust? Beware of unscrupulous companies who are actually just interested in buying your house at big discount, or attorneys who just want to take you into bankruptcy or companies that collect a consultation fee. Always read everything. Ask questions. Trust your gut - if it doesn't feel right, it probably isn't. Check out BBB websites.

 Should I just call my lender myself? Absolutely. Yes. If you are only a payment or two behind and your lender has not hired an attorney to begin foreclosure proceedings you may be able to negotiate an agreement yourself. Be serious with them.  Let them know you mean business and know your rights and the foreclosure process. However, don't take too much time with them alone if you can't get anywhere.  Give yourself only one or two weeks, then it’s obvious that they won't  work with you directly. Then get help quickly.  When you get to that point you will be better served by professional representation who can use the formal business and legal protocols. 

How long does this all take? Usually several months. This depends on the stage of foreclosure you are in and your financial position. Typically it takes several weeks to complete a work out agreement and stop foreclosure proceedings.

How do I know if  I have enough time to stop my foreclosure?  Up until the foreclosure sale occurs there is still hope. If a sale date for your house has been set you need to act fast.  Your best option is to take action immediately.

 What are your fees and who pays you? Our fees are based on the short sale amount and paid by the lender. 

 I'm currently in bankruptcy. Can you still help?  Yes, but it is more difficult. We cannot negotiate an agreement with your lender until your mortgage has been discharged or dismissed from the bankruptcy proceedings. We can evaluate your case and explain the best options to save your home. When the mortgage is out of the bankruptcy we can proceed with the home foreclosure help.

I've already talked with my lender and they just want money...Can you help?  Yes. Most people experience inflexibility from their lenders before calling us. We get your bank to listen to your needs because we already have a payment plan in place to when we talk with them. 

Why shouldn't I just file for bankruptcy to save my house?  Because it ruins your credit for up to ten years and you won't be able to get any other loans during that time frame.  Bankruptcy is very unlikely to help you save your home: 96% of homeowners who declare bankruptcy end up loosing their home to foreclosure anyway. However, there are times when bankruptcy is appropriate and we recommend you consult a reputable attorney should you think you need it.

WE CAN HELP: call Dana Tippit, NOW: 314-651-9900 or email dtippit@swbell.net