What is Foreclosure?
What is Loan Modification?
How can Home Solutions USA.com stop Foreclosure?
What is the Loan Modification Process?
Will My Lender Modify My Loan?
Am I eligible for Loan Modification?
I am only 30 days behind on my mortgage, can Home Solutions USA.com still help?
If I use Foreclosure-Shield, do I have to pay all the late fees and penalties?
What will the new interest rate be?
Can I Negotiate with the Lender Myself?
I’ve already talked to my lender and they want me to pay back the full amount now. Can you still help?
How long have Loan Modifications been available?



What is Foreclosure?

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.

What many people don't understand is that Foreclosure stays on your credit report for 7 years and 6 months according to Title 15 USC 1682 Section (C), Paragraph (a). What's worse is that lenders understand that those who foreclose rode the lender ALL the way to the end, causing them to lose a tremendous amount of money and gain a tremendous amount of pain. Imagine for yourself the probability of getting another mortgage. Imagine how difficult foreclosure on your credit report will look when you go to rent a home or an apartment! Foreclosure is ugly all the way around. We help you avoid it, period.

What is Loan Modification?

Loan modification is a process whereby a homeowner’s mortgage is modified and both lender and homeowner are bound by the new terms. The most common modifications are lowering the interest rate, reducing the principal balance, ‘fixing’ adjustable interest rates, increasing the loan term, forgiveness of payment defaults & fees, or any combination of these.

How can Home Solutions USA.com stop Foreclosure?

Home Solutions USA.com specializes in finding loan modification resolutions on behalf of homeowners. We work closely with mortgage lenders and prevention service providers to hopefully modify the terms of your current mortgage so that you can afford them; preventing foreclosure which is bad for you and the lender.

What is the Loan Modification Process?

A detailed financial analysis is performed to understand your unique situation. Then, we work with your lender’s Loan Modification procedures as well as your laws in order to help you understand your options. This process can take days to a few weeks so it is crucial that we get the process started if you anticipate a problem. Our software program utilizes the same documents the banks use and is used by the Making Homes Affordable Program.

Will My Lender Modify My Loan?

Your lender should work with you but they are not obligated to do so. Our clients have had mixed results when dealing with their lenders directly. Many times they turn to Home Solutions USA.com because they have reached a dead end when negotiating a loan modification on their own. Recently, ABC News’ Nightline Investigation ran a Loan Modification Segment.

Am I eligible for Loan Modification?

Please fill out the form so that we can help you determine your options.

I am only 30 days behind on my mortgage, can Home Solutions USA.com still help?

Yes, if you anticipate a problem paying your mortgage, we need to get ahead of the problem immediately. It is critical that you act quickly so that you have options.

If I use HomeSolutionUSA, do I have to pay all the late fees and penalties?

Legal fees and related foreclosure costs for work actually completed and applicable to the current default episode may be capitalized into the modified principle balance. Accrued late charges should be waived by the lender.

What will the new interest rate be?

After your loan has been modified, your interest rate will vary depending on your unique situation. Your mortgage payment should not exceed 31% of your monthly income. The interest rate will not be below 2%. The Morgagee Letter 2008-21 states that the new basis interest rate is 200 points above the monthly average yield on U.S. Treasury Securities, adjusted to a constant maturity of 10 years.

Can I Negotiate with the Lender Myself?

Of course. However, negotiating and closing a loan modification is like representing yourself in court; it is possible, but you must decide if you are willing to take the time and assume the risks on what is likely to be your biggest asset. Remember though, that the lender may not have your best interests in mind. Many times homeowners turn to Home Solutions USA.com because they have reached a dead end when negotiating a loan modification on their own. For a real life example of the frustration that can result from the Do-It-Yourself Loan Modification, please see this CNN Investigation Loan Modification Segment.

I’ve already talked to my lender and they want me to pay back the full amount now. Can you still help?

Yes, and it’s unfortunate that your lender is so inflexible. Let us help you by negotiating with them on your behalf. There is no cost or obligation for you to explore your options with Home Solutions USA.com.

How long have Loan Modifications been available?

Loan Modifications have been an acceptable outlet since the 1980s. At that time, the FDIC (Federal Deposit Insurance Corporation) applied workout procedures for troubled loans out of bank failures, modifying loans to make them affordable and to turn nonperforming into performing loans.