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Broward Florida Stop Foreclosure Options, Stop Foreclosure Loans, Refinance Foreclosure, Avoid Foreclosure Broward Florida

By Thomas Martin

Mortgage and Lending with United American Mortgage

June 11, 2008 01:54 PM

Proudly serving the following Broward County Areas,

Bonnie Lock-Woodsetter North, Boulevard Gardens, Broadview Park, Broadview-Pompano Park, Broward Estates, Carver Ranches, Chambers Estates, Chula Vista, Coconut Creek, Collier Manor-Cresthaven, Coral Springs, Country Estates, Dania Beach, Davie, Deerfield Beach, Estates of Fort Lauderdale, Franklin Park, Golden Heights, Green Meadow, Hallandale, Hillsboro Beach, Hillsboro Pines, Hollywood, Ivanhoe Estates, Kendall Green, Lake Forest, Lauderdale-by-the-Sea, Lauderdale Lakes, Lauderhill, Leisureville, Lighthouse Point, Loch Lomond, Margate, Melrose Park, Miami Gardens, Miramar, North Andrews Gardens, North Lauderdale, Oakland Park, Palm Aire, Parkland, Pembroke Park, Pembroke Pines, Pine Island Ridge, Pompano Beach, Pompano Beach Highlands, Pompano Estates, Ramblewood East, Ravenswood Estates, Rock Island, Rolling Oaks, Roosevelt Gardens, Royal Palm Ranches, Sea Ranch Lakes, Sunrise, Sunshine Acres, Sunshine Ranches, Tamarac, Tedder, Terra Mar, Twin Lakes, Washington Park, West Ken-Lark, Weston, Wilton Manors, Plantation, Crystal Lake

Avoid Foreclosure Broward County, Free Loss Mitigation Information and Refinance out of Foreclosure to Stop Foreclosure in Broward County, Florida.

For a Fast Quote Call Now 954-391-8387

or use our quick application to learn more!

Refinance out of Foreclosure Mortgage lending isn't what it once was. A generation or two ago, a simple trip downtown to see your community banker and explain your situation was all it took to delay or stop foreclosure in Florida. The world has changed. Today, your original lender has probably sold the servicing of your loan to another entity that may not even have an office in Florida. With the number of consolidations and mergers in the mortgage lending business, your original lender may have sold out to another Mortgage Lender; now be owned by a large out-of-state bank; or worse, no longer in business.

For many of our foreclosure mortgage clients, an opportunity still exists to find a solution that can stop your Florida foreclosure. A foreclosure loan originated by 1st Continental Mortgage can consolidate your debts into a single payment and give you a fresh start. Imagine being current again and imagine no more dreading the phone and doorbell.

It pays to work with a Mortgage expert when you need to stop foreclosure on a Florida home. At 1st Continental Mortgage, we're in the business of creating mortgage solutions all day long. We know all aspects of mortgage. We have negotiated solutions for many Florida borrowers whose situations appeared as hopeless to them as yours does to you. Call 1-800-570-0448 right now or use our fast easy quick application. We'll be glad to review your situation and identify what loan options may be available today.

If you are behind and can't make your mortgage payment, don't sign the deed over to a loss mitigation specialist or other real estate Investor no matter what he or she promises. We have helped many Florida homeowners just like you keep their homes and put themselves on a path to long-term financial stability with foreclosure help.

In some instances, we can get foreclosure loan Refinances approved even when traditional lenders have turned you down. We have a network of private lenders, private money, and private investors, who can close in as few as 48 hours. They will payoff your current mortgage and roll the past due and other penalties into a new loan with terms that allow you to get a fresh start, giving you the Florida foreclosure help that you deserve. Knowing who to call is the most crucial part of securing the best hard money loan to stop a Florida foreclosure cold.

The important thing to realize is that time is of the essence when you are facing a Florida foreclosure. From the time the process server delivers notice of the lis pendens to the time your home is sold on the courthouse steps can be only a matter of months if the lender's attorney is diligent and aggressive.

The good news is that - in nearly every case - the lender who owns your mortgage and note does not want to own your house. At 1st Continental Mortgage, we can assist you in understanding your options from a forbearance to a workout with your current lender to a refinance that rolls the past due balance into a new loan.

We understand how easy it is to get behind on the mortgage on your Florida home in Hernando County or any of the other counties we serve. We also understand how difficult it can be financially to get caught up. A financial setback. An illness. A car accident. A loss of a job can very easily put you one or more mortgage payments behind. To begin the journey toward keeping your Florida home, you must make the first step in getting foreclosure help.

The first step is a free consultation with a Florida foreclosure loan specialist at 1st Continental Mortgage. Call 1-800-570-0448 or use our secure online quick application form and we will call you back at the time you request. The sooner you call, the more options you will have to stop foreclose on your Florida home loan.

Stop Foreclosure with Loss Mitigation Programs

Loss mitigation programs were established by the federal government and the mortgage industry in order to stop home foreclosures in Broward County Florida.. They help Broward county homeowners, in default on their mortgages to find alternatives to home foreclosure. Every homeowner's situation is unique and each lender has their own policies regarding the use of these programs to stop foreclosure. Our extensive experience and solid working relationships with mortgage lenders allows us help you avoid the common pitfalls that many homeowners encounter while trying to work things out directly with their lender. After performing a thorough assessment of your personal finances and analyzing your lender's loss mitigation policies our professional loss mitigators will negotiate with your lender to get you the best possible solution to your home foreclosure problem. We can help you save your home and credit history through a variety of loss mitigation options:

LOAN MODIFICATION
(Available on a very limited number of VA loans with lender and/or investor approval) (Called Recast for FHA)

If you have incurred a long term financial hardship, our office can assist you in supplying the appropriate information to lender to take the appropriate measures to modify the term(s) of your mortgage. This could lower the interest rate and/or extend the term of the loan resulting in lower payments. There are costs and fees associated with a modification that you will be responsible for. All property taxes must be current or you must be participating in an approved payment plan with your taxing authority to be eligible for a modification. Any additional liens or mortgagees must agree to be subordinate to the first mortgage. All requests are subject to your lender's approval.

VA LOAN MODIFICATION/REFUNDING
(Available for VA loans only) (Need at least 30 days to process)

A refunding is when the VA buys your loan from the lender. Refunding may give VA the flexibility to consider options to help you save your home that your current lender either could not or would not consider. When the VA refunds a loan under 38 U.S.C. 36.4318, the delinquency is added to the principal balance and the loan is re-amortized. Your new loan will be non-transferable without prior approval from the Secretary. If your interest rate was lowered and an assumption is approved, the interest rate will be adjusted back to the previous rate.

SHORT PAYOFF
(Short Sale) (Pre-foreclosure Sale) (Compromise 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.

DEED-IN-LIEU OF FORECLOSURE

If you have incurred a long term financial hardship and your house has been on the market (at fair market value) for at least 90 days, you may be eligible for a deed-in lieu of foreclosure. To be considered for this option, you must complete a financial package and provide a copy of your recent active listing agreement. Also, there cannot be any additional claims or liens (other the mortgage) against the property. If you are approved for a deed-in-lieu, you will be giving up all rights to the property and the property will be conveyed to your investor. In exchange for the deed-in-lieu, the lender may waiver all deficiency judgment rights. You may be asked to participate in a Short Payoff program before a deed-in-lieu of foreclosure is accepted.

REPAYMENT PLAN

If you have incurred a short term financial hardship and your loan is two or more months past due, your loss mitigation specialist will also consider submitting a request for a payment plan to your lender for approval. Only after reviewing your financial situation will this option be considered. All clients must be able to show that they can afford this plan in order to be eligible.

SPECIAL FORBEARANCE
(FHA loans only) (Type I & II)

If you have incurred a short term financial hardship and your loan is 90 days to 365 days past due, the loss mitigation specialist will also consider submitting a request for a special forbearance. A special forbearance is designed to provide you with more relief than is possible with a regular repayment plan. Typical approval can result in spreading the repayment over 12 to 18 months. Type II - can be utilized in an unemployment situation whereby the promise of future employment is present. We have done VA loans that resulted 27-month repayment plans.

PARTIAL CLAIM
(FHA mortgages only) (Some Freddie Mac Investor loans)

The loss mitigation specialist may assist in requesting a partial claim if you qualify. You may be eligible if your loan is 120 to 365 days past due. A partial claim results in placing your past due payments into a subordinate mortgage (2nd mortgage) between you and the Secretary of Housing Urban Development. The partial claim note will require you to start making payments when you pay off the first mortgage. There is no interest. The partial claim can be for no more than 12 months of past due payments.

To Stop Foreclosure in the following Broward cities

1^ST Continental Mortgage is, Broward, Mortgage Specialist. We are approved by HUD to originate FHA Mortgage loans throughout Broward County, Florida.

Fill out a Quick Application

Call us with any questions in regards to FHA financing at 954-391-8387

ASSISTANCE LINKS

FORECLOSURE RESOURCES FOR CONSUMERS
From the Federal Reserve Board

HOMEOWNERSHIP PRESERVATION FOUNDATION
Free counseling and planning for foreclosure prevention

NEIGHBORWORKS AMERICA
Local resources for assistance and foreclosure prevention

FREDDIE MAC AVOIDING FRAUD VIDEO
A short video on avoiding mortgage fraud

WORKOUTS FOR HOME LOANS
A link explaining the various types of workouts available from many lenders. You can also click on the following link to ask questions on our Foreclosures Discussion board.

HOW TO AVOID FORECLOSURE
Advice from HUD

DEPARTMENT OF VERTERANS AFFAIRS
Advice when you have trouble making payments

CONSUMER CREDIT COUNSELING SERVICE
Non-profit help for establishing a direction or plan to avoid foreclosure.

PRO-BONO LEGAL ASSISTANCE
If you feel you need legal help and cannot afford it, this is the ABA directory state by state of legal providers doing pro-bono (without fee) work.

DEBT WORKOUT LINKS
What appears to be useful information and links for getting your financial house in order.

REINSTATEMENT SERVICES, INC.
Fee for service. Lender workout assistance for preventing foreclosure.

VOLUNTEER LAWYERS PROJECT
MAINE Pro-bono assistance

AVOID FORECLOSURE - FORECLOSURE HELP NATIONWIDE
Foreclosure prevention utilizing nationally recognized Mortgage Assistance Programs. Foreclosure help without Bankruptcy. Keep your home.