Avoid Foreclosure With a Foreclosure Bailout Loan
No matter what others have told you, a loan to stop foreclosure is still possible. There are several lenders who will loan you money, regardless of your credit or your past mortgage loan history.
When you apply for a foreclosure loan, there are three major things the lender will look for; credit, income, and loan to value. If you are less than 2 months behind, then your credit is probably still acceptable. If you are more than 2 months behind, you may need more stable income and equity in your home to qualify for a foreclosure refinance.
While most mortgage loan companies have basic minimum guidelines to qualify for a foreclosure loan, the lenders we work with are more understanding of your situation. No one is turned down on the basis of credit, income, or equity, until each case is thoroughly reviewed.
Regardless of your credit history, or what others have told you, you may still qualify for a foreclosure mortgage loan. Even if you do not meet the requirements for this type of loan, many times exceptions are made to the rules, so it makes sense to find out if you can refinance your home out of foreclosure today.
Non-traditional foreclosure lenders and private foreclosure lenders are much more lenient with these guidelines and will sometimes lend you as much as 90% of your home’s value, so never rule out a refinance to save your home from foreclosure. You may discover you could have refinanced your home only when it is too late. Do not let this happen to you.
Do not rule out a foreclosure loan until you have researched all the options. Fill out the form below and we will advise you of any and all options you still have available by sending you a free, customized e-book that contains more in-depth details about this entire foreclosure loan process.