Foreclosure Bailout Refinance

Let us help you with your Florida foreclosure refinance!

Many customers are facing foreclosure and for many different reasons:

1. Some may have had employment problems and can't make their monthly payment.
2. It may be due to someone having a medical condition that required months to treat and had to miss work.
3. Some people have sadly had life challenges that caused them to get behind on their payments. 
4. Overwhelmed paying debt, trying to catch up and pay everything, and just got behind trying to maintain their family and household.

Life brings many different situations and circumstances to someone, and they have several options to deal with like a short sale, loan modification, forbearance, sell it outright, and refinance. Our goal here is to give the consumer a step-by-step guide to applying for a Florida Foreclosure Bailout Loan. We will focus on the easiest of the loans, which is a hard money or private money loan.  We have a pool of private investors that are experienced and have the knowledge to tailor a special loan to suit your needs. 

Steps in the Foreclosure Loan Process:

• The investor will call you, the borrower, directly to speak to you about equity in your home and what step of the process of foreclosure you are in. Has it gone to the attorney or is it in pre-foreclosure?
• The loan officer will take an application and you will send it back to them. 
• You should request or have a payoff of all the fees or charges involved and late fees by the lender. 
• The investor will personally go inspect the property to make sure there is enough equity. Typically, the investor will only lend up to 60% to maybe 65% of the value of your home. 

Foreclosures are a little harder if it is with an attorney. At that point, it is out of the lender's hand and more fees may be tacked on. This sometimes will kill the deal sadly. However, that is not the case in every Foreclosure Bailout Loan. Our investors have helped hundreds of borrowers save their property with Hard Money Loans and help them work on their credit to get a refinance in as little as a year.

• They will order a title to make sure it's clear only just the mortgage attaches to the property.
• They will order an appraisal as the value is the most important and how much equity you have in your property. 
• You will need to provide income documents and a letter of explanation about how you got into the position and how it will be different with the new lender.
• You will get a copy of the HUD-1 statement before it closes to review and ask questions.
• You will get a clear to close and then go to the closing. 
• Once you close your loan, they usually try to give the new borrower a 40-day grace period before you make the first payment with the new lender. 

Our team of underwriters is there every step of the way to guide and give you answers to any questions you may have. You can trust them to close the deal within two to three weeks, assuming a clear title and the right equity in the home. One thing you can do to check your value is to see if you have equity. Look up value loan estimator tools, county records, or pay for a bpo, which is not expensive, and look for sale that or very recent in your neighborhood. 

Contact AHL Hard Money today for more information on our Foreclosure Bailout Refinancing Loans in Florida!