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>Ways We Can Help
You're behind on your payments or think you may miss a future payment, so now what? Thankfully, you have options and we are willing to assist. There are a variety of ways to catch up. Eligibility is determined on a case by case basis depending on your financial situation.
Following are a few options that may assist if you are able to maintain your current monthly payment:
Loan Modification
You may qualify for a reduced interest rate. Start modification process for details.
If you are unable to continue making your monthly payment you may consider the following options:
Short Sale
If the payoff amount of your loan is greater than the fair market value of your property, this option may allow you to avoid foreclosure by selling your property for less than what is owed to pay off your mortgage loan.
Would you like to begin the process and just don't know how get started? If so, please give us a call at
1-866-650-0968 Option 3 or e-mail us at
VericrestFinancialCares@VericrestFinancial.com. It is our desire to assist you through this process to help reduce your stress during this difficult time.
Once your property is listed for sale and you have received an offer, the documents listed below should be faxed to us at 1-405-553-4705, Attention: Short Sale Department. The documents can also be e-mailed to us at the e-mail address referenced above. Please note your account number at the top of each document before it is faxed or e-mailed.
- Purchase Contract signed by all parties.
- Hardship letter signed by all borrowers stating the reason(s) for default.
- Estimated HUD-1 Statement.
- 3rd Party Authorization Letter
Start short sale process for details.
Deed in Lieu of Foreclosure
As a last resort, you may be able to voluntarily deed the property back to avoid a lengthy foreclosure process. While this won't save your home, it may not be as damaging to your ability to get credit in the future.
You may qualify if all of the following apply to you:
- You're in default and don't qualify for any of the other options.
- Your attempts at selling the house before foreclosure were unsuccessful.
- You don't have any judgments or liens on the property.
Let's Find the Best Solution Together
Talk to a Loan Resolution Analyst today to find out which of these options you may qualify for. Call us today: 1-866-650-0968.
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