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Frequently Asked Questions ...
Q: What is Foreclosure?
A: Home foreclosure is a process by which a lender regains a property which they have financed. Typically, this is because the borrower or homeowner is behind on house payments and is unable to catch up, often due to circumstances outside of his or her control. When the lender forecloses on the homeowner, the homeowner must move out of the house, therefore, losing all possession of the property and jeopardizing any possible equity that the homeowner may have in the home. There is a legal time frame, which varies from state to state, which determines how long the foreclosure process can take.
Q: What can loss mitigation do for you?
A: The goal of loss mitigation is to work out an agreement between the homeowner and the lender that will stop foreclosure proceedings permanently or modify a loan to accommodate the home owner. This allows the homeowner to stay in their home and protects their credit history.
Q: How do we stop foreclosure?
A: Our company specializes in resolutions of mortgage delinquencies or home foreclosure claims on behalf of you, the homeowner. We perform a detailed financial analysis and work with you to determine your best alternatives. We review your lenders loss mitigation policies and your state's foreclosure law to make sure that we give you the best service within the context of your situation. By working with you and your lender we can tailor a resolution to meet your specific criteria and financial circumstance. We do all of this quickly and effectively because we have brought industry experts together to work on your behalf.
Q: How long do I have to act?
A: Time is of the essence when you are behind on house payments. Time is definitely not your friend in this situation. Each day that passes makes it that much harder to get a work out agreement with your lender that you can live with. The home foreclosure process can take anywhere from a few weeks to many months, depending on your state law and the method of foreclosure your lender chooses to use. We have encountered many homeowners who did not even know that they had already lost their house!
Q: Several companies have contacted me recently offering to help.
What's different about AHPC?
A: There are many predatory companies who are disregarding state laws enacted to protect consumers, and are operating outside the rules and regulations set forth by each state. Each state mandates that no upfront fees can be requested and no fees collected until contracted services have been rendered unless licensed to do so. AHPC prides itself in being one of the few companies that guarantees a fixed fee and only collects a small deposit at the time of executed contract.
Q: Should I negotiate with the lender myself?
A: Yes. If you are only a payment or two behind and your lender has not hired an attorney to begin foreclosure proceedings you may be able to negotiate a work out agreement yourself. If you are successful then you have saved yourself some funds that can be used to get caught up on your mortgage. Just remember, don't waste a lot of time on this. Time is not on your side right now. If you don't have something worked out within 1-2 weeks, then it's obvious that your lender is not serious about working things out with you directly. When you get to that point you will be better served by legal representation that can use the formal business and legal protocols to your advantage. AHPC delivers the critical information and legal representation that you need to get the best possible work out agreement with your lender.
Q: Can AHPC help me improve my credit rating?
A: AHPC does work with credit repair service providers and we work with national credit repair companies who can assist you. Right now, of course, the best thing you can do to help your credit is to prevent foreclosure or any additional late mortgage payments.
Q: How long does it take for you to complete the case once we fill out all of the paperwork?
A: Anywhere from several days to several months. This depends on the stage of foreclosure you are in, your financial position, the complexity of your case, the volume of cases your lender is handling, and many other variables.
Q. Do I have enough time to stop my foreclosure?
A. Up until the foreclosure sale occurs there is still hope. If a sale date for your house has been set you need to act fast. We have stopped sales set for the next day but this is very risky and some lenders will not agree to it. You're best option is to take action immediately to stop foreclosure before it goes too far.
Q. I'm currently in bankruptcy. Can you still help?
A. Yes. But we cannot negotiate a work out agreement with your lender until your mortgage has been discharged or dismissed from the bankruptcy proceedings. Our professional loss mitigation consultants can still evaluate your case and explain the best options to save your home. Then when the mortgage is out of the bankruptcy we can proceed with the home foreclosure help. Sometimes after bankruptcy it is easier to make a mortgage payment because other debts have been discharged.
Q. I've already talked with my lender and they just want all their money.
Can you still help me?
A. Yes. Most of our clients have experienced this kind of inflexibility from their lenders before calling us. We get your bank to listen to your needs because they know and trust us. We have mitigated numerous home foreclosure cases. That kind of experience gives us credibility with your lender. Over the years we have developed positive working relationships with key people at most banks. Our integrity and professionalism have earned us a reputation that allows us to be heard when no one else can get through the red tape. We will use our experience and connections to your advantage.
Q. Do I need to have a special type of mortgage loan for AHPC to help me?
A. No. We specialize in out-of-court resolutions of government and non-government mortgage delinquencies or home foreclosure claims for homeowners. These can be FHA, Rural Administration, VA, Freddie Mac, Fannie Mae, or conventional loans which have become delinquent.
©2009 American Home Preservation Corporation
This advertisement should in no way shape or form indicate qualification of any client or lack thereof, and should not be construed as such. AHPC reserves the right to make any initial or final determination, to enroll any client in its loss mitigation program. AHPC can act as Homeowner’s agent in assisting the homeowner to negotiate with their lender concerning their mortgage. AHPC agrees to act as such agent faithfully and to the best of its ability, but in no way guarantees the success of its efforts.
American Home Preservation
43398 Business Park Drive Temecula, CA 92590
Tel: 800.823.0231 ∙ Fax: 866.704.6191
800.823.0231
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