If you want to keep your home or avoid foreclosure you need to act fast. 

Here are some of the basic options available to you:

  • Loan Restructure (Most Popular Alternative) - Negotiate with your lender to get your loan in good standing again. This can be accomplished through a separate payment plan for your delinquency or even adding the delinquency to the end of your loan. Sometimes we can even lower your monthly payment!
  • Reinstatement - Pay your lender(s) your entire past due payments to bring your mortgage current.
  • Refinance - Only a viable option if there is enough equity in your property available.
  • Sell Your Home - You may simply sell your home before the Foreclosure Sale Date.  I can help us sell your home as quickly as possible with the least amount of inconvenience.
  • Short Sale - Negotiate a Short Sale with your lender(s). In this instance the lender may take less than what you owe on the loan to avoid a lengthy and costly foreclosure process. I can help us sell your home as quickly as possible with the least amount of inconvenience.
  • Deed-in-lieu of Foreclosure - Simply gives the home back to the lender and walk away with a clean slate.
  • Bankruptcy - This is a last resort. This will only save your home temporarily. If you miss one payment during this process the lender will put you right back into foreclosure.
  • Foreclosure - You may elect to allow the home to be entered into mortgage foreclosure. This is the most damaging to you. The lender will take your home and all of your equity. If there is no equity, your lender may get a deficiency judgment against you and come after you to repay the shortage or “deficiency”. This is the most damaging to your credit and your ability to acquire another home loan.

Keep your home, work with your lender.

Act now!

What is a Loan Restructure?

A loan restructure is used when your lender modifies your current mortgage (same loan you have, only changes are made to the note) in order to make your mortgage more affordable. A reduction in your interest rate, balance of loan, delinquent fees owed, term of loan and reduction in your monthly payment can be made by the lender. In the past this was only used when a borrower was delinquent, but now we will see it being used before the homeowner becomes delinquent. Loan restructure will be the hottest term and the best way to help homeowners avoid foreclosure.

  • A Loan Restructure will change the existing mortgage note and give the homeowner a fresh new start in managing their loan and finances. The homeowner can have a new affordable loan in a short period of time without taking months to get an approval.
  • With a "Loan Restructure", you take the mortgage you have now and change the interest rate and payment requirements in order to achieve a fixed rate. A change in rates and payments does not result in the need for a new closing, legal fees, survey, appraisal, or taxes. In contrast, if you "refinance" a loan you'll be required to have a closing and forced to pay a variety of fees and taxes.
  • Lenders are willing to negotiate when homeowners are facing financial hardships and can't obtain other financing alternatives.  The lender will reduce the loan interest rate, reduce monthly payment amounts, or change other loan terms to allow for an affordable loan and help the homeowner avoid foreclosure and stay in their home.

Loan Restructure works for you!

Loan Restructure can be negotiated when the two parties of a problem loan together to mutually agree to a workout solution that creates new and better loan terms, which are affordable and realistic for the homeowner. The plan is that the new loan will enable the homeowner to meet their obligations.


Call or email me if you want a list of some of the basic questions your lender will ask you.