- 1. Learn About Our Program and Loan Workout Options
We encourage homeowners to learn about our program and possible loan workout options by reviewing our website or contacting a Home Retention Specialist who can answer any questions you have.
- 2. Enroll in our Program
If you qualify and decide to enlist our services, you can register on-line via our website or by calling our toll free number. A Home Retention Specialist will be assigned to your case who will work with you every step of the way to ensure that you have the information, tools and resources to succeed.
Remember, there are no upfront fees with our program and we only collect payment for a successful closure of a home retention or workout solution.
To get started with the program, you will need to complete, sign, and fax to us the:
- Home Retention Advantage Agreement which details our services, our fees, and your responsibilities under the program.
- A Third Party Authorization form that gives us permission to negotiate with your lender on your behalf.
- Please ensure that you thoroughly review and understand all documents that you sign as part of the program. It is also very important that any information provided to us by you is truthful and accurate.
- Please keep in mind that we are happy to assist you with your second mortgage, however, we require a complete package for each mortgage, and each additional package assesses a separate fee.
- 3. Develop and document a Workout Solution
Our Home Retention Specialists will work with you to compile a work out application for submission to your lender, for each loan affected by your hardship. We will provide a checklist of all necessary documents that will need to be included in each completed packet.
- You will need to gather information and documents that explain your financial situation including your income, expenses, and assets.
- Documentation such as pay stubs, tax returns, credit card statements, utility bills, etc will be needed as part of this process.
- A hardship letter will need to be developed explaining why you are not able to make your loan payments.
- You will need to complete lender specific workout forms, that we have on-hand.
- 4. Presentation and Negotiation with Lenders
Our Home Retention Specialist takes over the process from here.
- We present your loan workout package to the lender and review your financial situation, information and propose possible workout solutions with their staff.
- We use our best efforts to vigorously and successfully seek an offer from the lender targeting affordable and sustainable payment terms.
- In some cases the lender may be unable or unwilling to make a financial concession large enough to allow you to stay in your home. If this takes place, we will help you explore the available options for surrendering your home in a manner that is most advantageous for you , and will negotiate with your lender to facilitate the best possible outcome.
- Although this process can be confusing and overwhelming for homeowners, we have the training, licensing and experience to represent you every step of the way.
Our Home Retention Specialists are fully licensed by the California Dept. of Real Estate and have at least 5 years of experience managing transactions in the housing industry. Our staff has received extensive training in managing mortgage workout solutions including formal Early Intervention and Loss Mitigation coursework.
- 5. Homeownership Education
In order to help you understand the situation and your available options, we have developed an education course, Sustainable Homeownership and Financial Health, designed to help support successful homeownership and financial health for the long term. This course will discuss mortgage loan delinquency, home retention, home surrender, foreclosure and methods of sustaining homeownership.
Because Nfinit Solutions and your lender value workout candidates that are committed to education aimed at successful homeownership and financial health, this education course is a required feature of our program. This is a no cost, self-paced course that will prepare you to make decisions that you will encounter in this process. The course can be taken at any point after registration.
- 6. Communication and Follow-up
Throughout the negotiation process, we will provide regular communications and status updates to homeowners and lenders via our website, email, and by phone.
- 7. Finalizing the Solution
When a home retention or workout solution has been achieved on behalf of the homeowner, the Home Retention Specialist will coordinate the signing of the lender's documents.
At the time of signing your home retention or workout solution documents, our fee of $1,900 will be due. If we assist you with a home retention or workout solution on any additional mortgage loans you may have, a fee of $750 will be due for each additional mortgage solution we provide. Once the documents have been signed, and our fee received, the home retention or workout solution package will be sent back to the lender to initiate the terms.
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Hours of Operation: 8:00 AM - 5:00 PM (Pacific Standard Time) |
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