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Partial Claim
What is a Partial Claim?
Under the Partial Claim Loan Modification 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 of mortgage payments). 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.
Is a Partial Claim the Right Solution For Me?
A Partial Claim is one of the many solutions that are negotiated by a lender’s loss mitigation department and is one of the options offered by Foreclosure-Shield.com. After we conduct an investigation into your unique situation, we may recommend that a Partial Claim is your best option. Please fill out our no obligation application so that we can begin the loan modification process.
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Loan Modification Can Work For You
It is a remarkable situation that we as a country find ourselves in today when family homes are being foreclosed on with a scope and scale never before seen. Clearly the current U.S. recession and worldwide economic crisis is much to blame for this scenario. One might think that there might be no glimmer of hope in sight, and that banks might act too quickly nowadays to foreclose on homes if the borrower begins to fall behind on their monthly mortgage payments. But such is not the case.
The fact is that most people facing the prospect of foreclosure can stop the process in its tracks and... (READ MORE) | Stop Foreclosure With A Loan Modification
There are many alternatives to foreclosure, but many people are unaware that they exist. If you are among the millions of homeowners struggling to pay their mortgage or if you are already in foreclosure, you need to know that you have an alternative. You could try to sell your home in a market where no one is buying, or you could attempt to get a refinance loan, but those options leave a slim chance for success. The best option is for you to take advantage of the qualified professionals that work in the mortgage loan modification industry and see how they can help you lower your payments or in... (READ MORE) |
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