Homeowners can stay in their homes longer because lender programs are available and court rules provide the time to pursue these programs. However, lenders still pursue foreclosure throughout this process. Under the law, lenders are required to cooperate and to consider the loan for modification. This consideration extends the process of foreclosure while increasing your chances of being approved for a modified loan program. Stay In Your Home Now customers have extended the legal process over several years. We inform the lender that the homeowner is represented and request valid documentation to enforce their rights. This process can take a while, as lenders do not typically provide actual documents. If necessary, we can enforce court rules to require the lender to prove its case against the homeowner. This results in more time for the homeowner to stay in their home.
No. The primary focus of this plan is to educate and counsel homeowners on available steps to delay the foreclosure process. These steps include requesting loss mitigation and demanding compliance from lenders and their lawyers. However, many times lenders simply do not file foreclosure or discontinue the process until or unless they can obtain the proper documents to proceed.
This answer varies by state, but essentially a lender must possess the proper documents in original form including the signed promissory note and mortgage documents. Lenders also need to serve homeowners with notice of their intent to foreclose and to declare your mortgage loan in default. Due to the complex nature of mortgages, many lenders have failed to properly maintain these original documents or record all assignments. This problem is complicated when the original lender is out of business and failed to properly transfer or assign the loan file to the next lender or bank.
This depends on the state where the homeowner lives but most likely the answer is yes. Our legal team can give a more complete answer to this question after reviewing a homeowner's circumstances. Where appropriate, solutions are available to challenge the lender's right to foreclose or even collect payments from the homeowner.
To enroll, we need little more than an address. We can get most of the documents we need from the lender. Eventually, we may request documents the homeowner has retained from the mortgage origination. These documents can include: the promissory note, mortgage, HUD-1 form, escrow and current billing statements, recent letters from the lender and any change of servicer notifications. We often need to determine the name of the original lender and if the current lender or servicer has properly obtained the loan file in order to service your loan. We also review any court documents and filings. Upon enrollment, Stay In Your Home Now customers receive a detailed list of documents which would be of help.
The monthly fee covers counseling, file review and ongoing analysis by our legal staff. Even on short notice, we determine - based on the homeowner's file and court documents - if there are pending foreclosure, sheriff sale or other legal matters. When necessary, our legal team will take action to preserve the homeowner's legal rights, ownership, and possession of their property. We notify the lender that we are authorized to speak on the homeowner's behalf. If no court or sheriff actions are looming, then we commence the process of obtaining documents from and communicating with the lender. This communication should stop any further calls or letters from lender representatives and lawyers.
Generally, no. Lenders are required to explore loan modification options with their borrowers. Stay In Your Home Now customers are given assistance with preparing their loan modification package. We then monitor the modification process to ensure customers are treated fairly under the law. Even when a lender offers a trial plan or modification, homeowners should have the documents reviewed. We seek to make the process more transparent by requiring lenders to comply with state and federal laws pertaining to home mortgages, modifications and foreclosure.
We recognize that many unscrupulous companies, including law firms, have taken advantage of homeowners facing tough economic circumstances. Since 2011, the U.S. Federal Trade Commission has enacted strict rules governing mortgage assistance programs. Stay In Your Home Now is fully compliant with these stringent rules. Our legal team consists of licensed attorneys in your area dedicated to the ethical practice of law. Most alternative programs charge thousands of dollars to get started while we offer expert solutions for an affordable, low monthly fee. We guarantee our services: customers only pay if they remain in their homes.
At Stay In Your Home Now, we take our customers' privacy very seriously. Our team is trained extensively on the importance of maintaining confidentiality. However, court matters, foreclosures and sheriffs sales are routinely available to the public. What a customer tells us and any documents they submit are treated confidentially, stored securely, and never shared with anyone. Even if we are required to share documents with the lender or the court, we protect the customer's identity to the fullest extent of the law. When speaking to our legal team, the attorney-client privilege may apply as well.