Option 12. V.A. LOAN MODIFICATION/ REFUNDING
(Available for VA loans only) (Need at least 30 days to process)
Definition: VA has the discretionary authority to buy a loan from the holder and take over the servicing. This is called “refunding”. Refunding may give VA the flexibility to consider options to help you save your home that your current lender either could not or would not consider. When the VA refunds a loan under 38 U.S.C. 36.4318, the delinquency is added to the principal balance and the loan is re-amortized. Your new loan will be non-transferable without prior approval from the … Read the rest
In my last article I talked about Pre-NOD.Today I am going to talk a bit about Pre-foreclosures. The Pre-foreclosure niche is the process leading up to the final day a property in pre-foreclosure is possessed by the bank. This is the time you will reach out to homeowners in order to find out if you can help them with their situation to avoid foreclosure You want to approach the homeowner heading toward foreclosure with a spirit of caring.Your job is to discover what they need and find out if you can help them avoid foreclosure. This is where the 