Services

What Services Does Home Rescue Pro Offer?

Whether you are behind on your mortgage or already in foreclosure , our goal is to give you a fresh start and.... We have a 99% Success Rate and a "Money Back" Guarantee!!

We are specialist in working with your lender (or lenders) to restructure your existing mortgage by developing a professional and practical plan that benefits both you and your lender. We also fully understand that you have a serious problem and only a short time to overcome the real possibility of losing your home. Lenders want to see a verifiable relationship between you and your income and expenses so they feel confident that you will be able to make the modified loan payments in the foreseeable future. We are experts at working with lenders to show this relationship in order to give our clients a fresh start.

Loan Modification
99% of all "A" type lenders and 70% of sub-prime lenders (with high interest rates) will negotiate a loan modification where most of the delinquent payments and foreclosure fees are either wiped out or added onto the back end of the loan. Payments can remain approximately the same. In most cases the interest rate will be reduced permanently.

Interest Rate/Payment Reduction
With the increase of interest rates on home loans many homeowners with adjustable rate loans are faced with mortgage payments they can no longer afford.

Our job is to convince the current lender that it is better to lower the homeowner's payment by lowering the interest rate or payment rate by creating a payment plan the borrower can afford, than to take the home with a foreclosure sale and lose money on the re-sale. Keep in mind lenders lose money on bank owned properties as it will sell for less than market value, and they must pay a commission to a Realtor; and closing cost plus the cost of holding the property while they wait for a sale in a market that is depreciating.
We need to prove to the lender what the maximum payment is that borrower can afford by constructing a financial plan for the homeowner that the lender will approve. Also as the homeowner is often late with their payments and in foreclosure or soon to be in foreclosure, we need to ask the lender to forgive the delinquent payments or put them on the back of the loan.
A rate reduction in most cases is the only possibility for a homeowner to retain their home --our fee is a risk that each homeowner must weigh. Note: the success rate on a workout program without a rate reduction is 97%.
Note: If we can prove you owe more that the value of the property and there is a second loan, we can convince that second lender to take a major reduction --of 50% to 80% -- off the balance of the loan.

Principal Reduction
When a property is upside down and the homeowner is facing foreclosure, the homeowner has more leverage than they may realize against their lender. It is our job to force that leverage upon that lender. In doing so, we are successful in wiping out large portions of principle. Typically 50-80% on seconds.
In today's market, we can also convince the lender of first lien holders to lower the principle amount to the present market value. (ex: a homeowner owes $600,000 on first but the appraised value is $500,000. We can convince the lender to lower the loan amount to $500,000.) That is a $100,000 reduction in principle for the client.

Deed in Lieu of Foreclosure
Under many conditions lenders will accept the property back from the borrower as full payment in order to save the time and expense of going through the foreclosure process. Our job is to convince the lender it's in their best interest to accept the property as payment in full. This is not a simple plan as we must provide the lender with a complex detailed analysis of current value of the property --and future value. Then we must prove that the borrower cannot afford to make payment or sell the home any time soon or at all.

Note: A deed in lieu will also prevent the lender from filing a 1099 on their loss which is regular income to the borrower.

Debt Settlement
DRC/Home Rescue now offers a debt settlement program (also known as debt negotiation), a process aimed at getting creditors to agree to a lump sum pay off for a reduced amount in full settlement of a debt. In other words, once we enroll your client, DRC/Home Rescue negotiates with a creditor (on behalf of your client) and assuming a creditor agrees to sufficiently lower the amount that a consumer owes, we settle it with a lump sum payment. We accomplish this by establishing a special purpose account for your client whereby they make monthly contributions until enough funds are collected to start negotiations.

Once an agreement is reached, the creditor will report to the credit bureaus that your client no longer owes them anything. As an example, a client who owes $10,000 may pay as little as $4,000-$6,000 to settle the debt. When you consider the fact that someone barely making the minimum payment can pay as much as twice their balance on interest charges alone, the savings are even more astronomical.

Forensic Loan Audits
Many loans funded during the "boom" years of 2002-2006 were performed with legal violations. Although only a fraction of the loans were funded with blatant disregard for the law, the majority of loans have significant State and Federal violations resulting from carelessness, greed or just innocent oversight by the lender and/or broker. However, no matter why these violations were performed by the lender, these violations carry EXTREMELY stiff financial penalties for the lender, and can result in SERIOUS legal consequences to the lender, such as forcing the lender to refund all interest paid to date back to the borrower.

For example, let's say that over the last 2 years, you paid $25,000 in interest on your loan that contained Federal or State Violations. The lender could be required to pay you back $25,000!

Loans with illegal terms or conditions are not enforceable. Foreclosures resulting from illegal loans are also not enforceable. The foreclosure process is STOPPED when litigation on a questionable loan begins. Mortgage payments are NOT required during the foreclosure or litigation process, although depositing the mortgage payment into a separate bank account is often recommended.The Only Way To Know If Your Loan Contains VIOLATIONS is With a Forensic Loan Audit.

Credit Restoration
Home Rescue Programs believes that every client should have a life after debt, even if you file for bankruptcy. If you become our client, we want you to get excited about credit because there are so many powerful and exciting strategies to restore your credit even if must file for bankruptcy!

Whether you file for bankruptcy or not you can dramatically improve your credit after getting out of debt. It’s tragic that most people never take these steps. Why? It’s usually because they don’t have the proper knowledge and guidance.

Home Rescue Programs offers the guidence most people are looking for. Contact us to learn how Credit Restoration can work for you.