Loan Modification Programs

Foreclosure Stops Here

At Foreclosure-Shield.com, we offer a variety of loan modification programs to best suit your needs as a borrower

. Depending on your unique situation, we may recommend one or more of the options detailed below. Please complete the form to the right so that we can help you save your home.

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

. Once you fill out the application, we begin negotiating with your lender under predefined Loan Modification criteria. It is critical that you begin working with us immediately as we cannot help you if you are more than 90 days late on your mortgage payments. The more time you give us the better.

Short Sale

A short sale is a process whereby a lender reduces the principal balance of a homeowner's mortgage in order to permit the homeowner to sell the home for the actual market value of the home

. This specifically applies to homeowners that owe more on their mortgage than the property is worth.

Short Refinance

A Short Refinance is a process whereby a lender reduces the principal balance of a homeowner's mortgage in order to permit the homeowner to refinance with a new lender. The reduction in principal is designed to meet the Loan-to-value guidelines of the new lender (which makes refinancing possible).

Deed-In-Lieu of Foreclosure

A Deed-In-Lieu of Foreclosure is an instrument in which the borrower gives all interest in a property to the lender to satisfy a loan. You must turn over all ownership rights and abandon the property in this case.

Cash-for-keys negotiation

Cash–for-keys negotiation is a variation of the deed in lieu of foreclosure. The difference is that the lender will actually pay the homeowner to vacate the home in a timely fashion without destroying the property. The lender does this to avoid incurring the additional expenses involved in evicting such homeowners.

Repayment Plan / Forbearance

Forbearance is a special agreement between the lender and the borrower in order to delay or prevent foreclosure. According to this agreement, the lender delays his right to exercise foreclosure if the borrower could catch-up his payment schedule in a certain amount of time. This time-period and the payment plan depend on the details of the agreement which are accepted by both of the parties involved.

Partial Claim

Under the Partial Claim option, a lender will advance funds on behalf of a borrower in an amount necessary to reinstate a delinquent loan (not to exceed the equivalent of 12 months PITI). The borrower will execute a promissory note and subordinate mortgage payable to United States Department of Housing and Urban Development (HUD). Currently, these promissory or "Partial Claim" notes assess no interest and are not due and payable until the mortgagor either pays off the first mortgage or no longer owns the property.