How my house was saved

[msztonia]

Good afternoon everyone...

I was in the process of losing my home, going thru a divorce with 5 children no less. Did not want to go thru a bankruptcy and even remotely attempt to start over. I came across a company that was so very helpful. Originally I was leary, everyone comes knocking at the dang door, prowling looking for you to sell to them before you even have a set court date.

The mortgage company would not even look at a partial payment, just wanted me out I believe. I had been late before due to a husband that had issues with being a man and supporting his family.

I wanted to keep my house. Heck who would rent to a single parent of five children anyway? So I did some research, got down to the wire really...trying to figure out what to do. At any rate, I came across this company and I hope that someone can be helped by them like my family was. 4closuresupport.com. The staff went above and beyond the call of duty and did not leave me hanging one moment.

For those of you that are going thru a foreclosure, all the questions, all the doubt...believe me I understand. Now that I have two that are grown, I am trying to sell this big-o-house and buy something a bit smaller. However, none of this would have been possible had it not been for the loss mitigation company that I employed.

As I said I hope it helps someone...www.4closuresupport.com

Happy Holidays

[StaciMM]

Does anyone want a Spam Sandwich?

[Kam]

Yuck.

[Genenco]

Can't find a single thing for this place (Backed by the ZRO Group, whoever they are) their webpage is not complete and they are involved with racing, Finance and Engineering...

Talk about mis-aligned companies!!

Best advice? STAY AWAY!!!!!!

[robivi3]

Odd, one post. Peoples paid attorney's have "left them hanging" yet this sweet and kind gentleman of a fluffy-lovey-bunny Company will not leave you hanging for one moment!

And all for your personal good! To hell with making that spineless "wimp of a "man issue" pay!

Oooh, I'm feeling warm-cuddly-uddly-lovey-fluffies!

[HopeinHorizon]

Very much a SPAM post, but some Loss Mitigation companies are good.

I am a consultant on the side, since I work for a lender, I have restricted ability of who I can help, but I have taken knowledge from work and turned it into a side job.

Some people really don't know how to fill the paperwork out or what to do, and they hire consultants, much like we practically all did with the bankruptcy paperwork...

I wouldn't trust anyone with my home, and I advise others to the same. Check the BBB before contacting or giving any personal information out, and READ what you sign.

Also with this kind of business, always look for a guarantee and get it in writing...

For instance I work cases, but if I can't stop the foreclosure, I give full refund back, of course I am selective who I take as clients from the beginning because of that. If I know I can't help them it would be stupid to swap money back and forth... Also look for a company that tells you the truth don't go with a company that offers 100% gaurantee to stop the foreclosure, THE ONLY WAY TO DO THIS IS TO PAY YOUR LENDER ALL PAST DUE, PLUS REASONABLE FEES AND THEIR ATTORNEY COSTS... if someone tells you different, walk, run... fly away as fast as you can!!

READ everything carefully you sign, a true negotiation/consultant will have verbage that they do not take the original agreement away, and it remains with you and your lender. Also, make sure that it is stated that the company has no interest in your property and does not want interest in the property.

I think thats all the tips, I have... BE CAREFUL!!!

Oh one more thing that I tell my clients, any service that I provide can also be found at any HUD approved counseling agency for FREE, but sometimes there are long waits to meet with a counselor and by then the sale might already have occurred... I would say 90% of my clients are too close to sale date to be able to wait for the free services.

Of course, I just started, and have only helped a few people, but I do plan on making a career out of it as soon as I finish with my degree in Financial Management and get a little more repuation behind my company.

I will start helping out in the foreclosure part of this forum as soon as time allows me too.

There are A LOT of snakes in the grass in the mortgage business from origination all the way to the foreclosure that will try to trick you out of equity, read everything, get things in writing, don't assume anything...

[edwards2]

HopeinHorizon - thanks for your very informative post. Coincidentially, I work for the BBB and we have had numerous calls from desperate consumers trying to find a legitimate company to "save their house." It is a very sad and scary situation for them and yes, there are a number of unscrupulous companies promising to convince the mortgage companies not to foreclose. I don't know of any companies offhand who can deliver what they promise. Usually, it is too late when the consumers call us because the foreclosure is typically imminent...less than a month away. We have managed to get the word out via tv spots, newspaper articles and bulletins to the public to be wary of companies like this and we have made some headway. Good luck with your career...

[HopeinHorizon]

Edwards-

I think its great that the BBB's are warning people of fraudulent companies, of course it hurts my hopeful career in it, because people are scared to trust even those that are honest.

A month away is not too late, the lender I am employed by is in the top 5 mortgage companies in the country, and if we recieve a qualified workout packet, we will at least postpone the sale long enough to review all alternatives, which buys the borrower more time.

Of course, smaller companies, probably wouldn't take that same risk. Lenders have contracts with investors that state how they will foreclose within so many days of default (they want to make sure their investment is protected), and if smaller companies postpone, that would push up their day number over the contract agreement possibly, and they would be afraid of losing the investors business. Where I work, we have so many loans, that postponing doesn't throw off our numbers quite as much as smaller lenders. To us it is worth the risk, because investors give "bonuses" for loss mitigation work, because it safeguards their investment. It is a real balancing act, hence why NOBODY can guarantee the stoppage of a sale except for the borrower, but that means coming up with a lot of money to pay off all the past due...

Hopefully the BBB won't kill my dreams/career, but if so... I will just keep working on the lender side of things...

[msztonia]

All the comments.

What I posted had to do with my individual situation. I did not want to file bankruptcy. The reason for my post was to show folks other options are available. As for the company being in racing, engineering and finance. How is that even remotely relevant. Several companies multi-task, this is not the only one. when you buy from limited, you are growing income for Victoria's Secret, Bath and body and Express. Please do your research, that is all that it boils down too, correct? There are some companies that prey on individuals, I only stated that this was not my dilemma, also...not sure what happened with your computer, the site worked fine for me.


Merry Merry Everyone

[Genenco]

What I posted had to do with my individual situation. I did not want to file bankruptcy. The reason for my post was to show folks other options are available. As for the company being in racing, engineering and finance. How is that even remotely relevant. Several companies multi-task, this is not the only one. when you buy from limited, you are growing income for Victoria's Secret, Bath and body and Express. Please do your research, that is all that it boils down too, correct? There are some companies that prey on individuals, I only stated that this was not my dilemma, also...not sure what happened with your computer, the site worked fine for me.
Merry Merry Everyone

I said "Mis-Aligned" as in little in comparison to another....

And you'd do better to read what I said..."Can't find a single thing for this place (Backed by the ZRO Group, whoever they are) their webpage is not complete and they are involved with racing, Finance and Engineering"

Did I ever mention the 4closure site?

Also, no mention of fees...Major question...Or is this another bit o' trickery?

"A. Our fees are based on your mortgage payment amount, and the complexity and urgency of your situation. Our professional loss mitigation consultants will evaluate your case and explain the best options to save your home"

Am I to assume this means: "The worse you are off, the more you shall pay"?
Sounds like it to me....

Again, how are we to know you are even telling the truth? One post and you leave, now to return after all this time??? Strange....

Say what...PM a Moderator here, let them check your story and I'll apologize for my disbelief...After all, like I said..One post and you leave...Sounds highly suspicious to me...

[HopeinHorizon]

Geneco-

Most Loss Mitigation companies charge one full mortgage payment for services. So if you have a 2000/mortgage payment thats your fee... if you have a 600/mortgage payment thats your fee...

They don't ever seem to put a straight fee on their sites, because of that reason. So, basically, you pay them more or less than another person for the SAME process. It really doesn't matter how much you owe in back payments to the lender. It is all ratio based anyway, and if a lender is going to place you on a repayment plan, modification, partial claim, or a forebearance, you roughly need to be back on your feet to the tune of 5-20% surplus of income over required bills.

So, my advice, if you need a loss mitigation company, go with one that discloses all fees, and is fair and gives the same service everyone, since afterall everyone is in fact purchasing the same service.

[Genenco]

Geneco-

Most Loss Mitigation companies charge one full mortgage payment for services. So if you have a 2000/mortgage payment thats your fee... if you have a 600/mortgage payment thats your fee...

They don't ever seem to put a straight fee on their sites, because of that reason. So, basically, you pay them more or less than another person for the SAME process.

So, my advice, if you need a loss mitigation company, go with one that discloses all fees, and is fair and gives the same service everyone, since afterall everyone is in fact purchasing the same service.

I have no problems with the companies as you speak, seems odd someone would come by, spout and the never stick around.

They might have learned something from others here, instead of just grabbing any straw...

[msztonia]

4Closuresupport.com

Although, I left this post a while ago. I failed to mention a few things, it seems... Yes, there are some companies that prowl and prey on unsuspecting individuals. That was not my issue with this company. Also, I suggest instead of speculating about what you read, call and investigate. It is not that difficult.

[robivi3]

It is not that, it is just that Spam is not allowed here. It would be odd for one in the situation you state to seek out a BK Forum just to post on this issue. 5 kids? And possibly a job? You'd be in here seeking help! Wow! If the situation is real then hats off to ya! But to me, this is enough Spam to feed the Red Army six more times!

[tweety]

Answers to questions for posts below

This is a reply to previous posts concerning loss mitigation; (not an ad...it sounds like one...I just wanted to clear up some questions I read earlier in these posts.)

I work with We Save Homes USA and our goal is to help those looking to save their home and their credit from BK and foreclosure. Our company charges a sliding scale; 60 - 80% of 1 months mortgage. Which is cheaper than alot of other companies. It is a sliding scale due to the different severity of cases we receive. This company focuses on the little guy...We want to help. I think this is what sets us a part from all the rest. Well that is what I think personally.

But it is true that other companies charge atleast 1 months mortgage and some are more...alot more. And some will not accept the case if you do not have equity in the home...so overall this is very tricky. Finding the right company to help is difficult especially when alot of companies can take advantage due to the lack of companies that due loss mitigation. And that is why it is so hard to find these companies (very few).

With our company from the time we receive the information from the client we can settle the case as fast as a few days. Even if their is a foreclosure/sale date set.

The one thing I would suggest to anyone facing forclosure is to immediately start saving money and contact a loss mitigation service to help. This is a nice alternative to refinancing, which everyone cannot do.

Let me know if anyone has any other questions I can answer.