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Foreclosure and
Loss Mitigation Services
Sometimes bad things happen to good people. You might lose your job, have a death in the family, or you might get very sick. You fall behind on your bills because you just can't afford them. Now you've just received a letter from your mortgage company that your home could be foreclosed and you don't know how you can afford to keep your home. You may owe more than the home is worth. You have options! Contact us today so we can help you out.
We want you to know that you have OPTIONS! We have attended extensive training sessions to become their local Loss Mitigation Consultants (LMC), just some of the few in the state of Wisconsin. We are hired by the bank to contact you personally and help reconcile your debt or sell their home. Despite what you might think, they really do want you to help sell your home! Banks do not want to own your property
If nothing else, we might be able to help you sell your home to pay off your deliquent mortgage, before you have to endure the agony of being evicted or having a foreclosure appear on your credit report.
Options are available to help you avoid foreclosure. Your lender requires a complete financial package to assess your situation. We can help you even if you owe more than the property is worth.
Pre-Sale/Short Sale - If you don't have the ability to reinstate or refinance your loan, your lender may allow you time to sell your home without going through foreclosure.
Deed-in-lieu of Foreclosure - Your last option to avoid foreclosure is to voluntarily give your home back to the lender.
How do you know which option is right for you? Contact us - your LMC - or a CCCS housing counselor to help you determine which of these options best suits your situation. We will handle everything in a strictly confidential, professional, and courteous manner.
Working Together to Help Borrowers Preserve Homeownership
What happens when you miss a mortgage payment? When your mortgage becomes deliquent, the lender can foreclose on your property. If this occurs, you must move out of your home and the property will be sold. In addition to losing your home, you may owe a deficiency balance (the difference between the price your lender sells your home for and the balance on your mortgage loan).
What should you do now to avoid losing your home?
* Read all letters and correspondence from your lender. Respond to their phone calls.
* Contact your lender's loss mitigation department - not the foreclosure department - and explain your situation. They really do want to help you keep your home.
* Talk to us - your Loss Mitigation Consultant (LMC).
* Seek counseling assistance from a HUD-approved housing counseling agency, such as Consumer Credit Counseling Services (CCCS).
How can a Loss Mitigation Consultant assist you?
We can work with your bank to to sell your home and avoid foreclosure.
How can Consumer Credit Counseling Services (CCCS) help you? A certified consumer credit counselor works with you to...
...evaluate your financial situation.
...identify problems and solutions.
...create a cash flow plan to bring your mortgage current.
...reduce your monthly debts, if necessary.
...explore your alternatives to foreclosure.
...provide information on community resources to help you through these difficult times.
YOUR LOCAL HOME TEAM
Loss Mitigation Consultants (LMC)
920-988-7393
Jefferson & Dodge Counties
262-719-7393
Waukesha & Milwaukee Counties
608-669-7393
Madison & Dane County
(All calls are kept confidential)
www.YourLocalHomeTeam.com
First Weber Realtors
CONSUMER CREDIT COUNSELING SERVICE (CCCS)
800-249-2227
Education@CCCS.net
www.CCCS.net
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