Real Estate Consultant
United Capital Mortgage Assistance LLCAbout
Important information
- Additional Info:BBB General Advice on Foreclosure Prevention
When consumers fall behind in their debt repayments to a mortgage holder, the possibility of foreclosure on the loan is a real and worrisome issue. Consumers should know that their mortgage lender should be approached directly as soon as problems arise in making home payments due to the loss of income or for whatever reason. Most lenders wish to avoid foreclosure and will work to assist in preventing that action. When approached early on, lenders may be able to arrange some solutions to assist the debtor to get past the problem. A variety of companies specialize in helping consumers avoid foreclosure. The costs of such service vary widely. When considering contracting for such services, be sure you understand what the company is agreeing to do for you, what the costs are and what the time frame for action is. The company may seek to negotiate with your mortgage lender about extending the payment schedule. It may provide referrals to bankruptcy attorneys. It may provide offers to purchase your home and rent it back to you. Make sure that you understand the contract provisions before signing documents to make such arrangements; obtain legal advice as well.
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