OUR PROGRAMS
Mortgage Resolution Specialists IS HERE TO HELP, But YOU must take the first step! Call today and speak with one of our specialists!
LOAN MODIFICATION
If you are behind on your mortgage or lack the funds needed to bring your account current, a loan modification can help prevent your home from
entering foreclosure. With a loan modification, your mortgage loan can be restructured to be both reasonable and within your budget, rather than
being an overwhelming monthly drain on already tight finances.
Your lender may be able to change one or more terms of your original loan in order to make the payments more affordable. Your mortgage loan could
be permanently changed in one or more of the following ways:
- Adding the missed payments to the existing loan balance.
- Changing the interest rate, including making an adjustable rate into a fixed rate.
- Extending the number of years you have to repay.
Are You a Candidate?
1. If you currently have an Adjustable Rate Mortgage (ARM), especially if you have taken out a loan in last 8 years.
2. A Notice Of Default (NOD) has been filed or is about to be filed against your property
3. Actual and/or Anticipated changes in your situation which will materially affect your ability to pay the mortgage. You DO Not have to be late
in your payments to qualify for a loan modification
4. Anyone with a Principal Residence or Investment Property
5. Negative Equity in your home
Take out the complexity when considering a loan modification! MRS will compile the required forms and necessary facts to present to your lender.
Additionally, we provide offer referrals to external counsel for professional legal services.
COMMERCIAL LOAN MODIFICATION
Similar to a home loan modification, a commercial loan modification can permanently change the mortgage terms of the original agreement made between the property owner
of commercial real estate (shopping centers, office buildings, retail stores, etc.) and the mortgage holder.
Lenders are often willing to negotiate a loan modification and may agree to several practical solutions, including: extending the loan terms, allowing interest-only
payments for a fixed period, reducing interest rates, deferring past due balances, and in some cases even lowering your commercial loan balance.
Don’t risk losing your property or business – the loss mitigation specialists at Mortgage Resolution Specialists are ready to provide the assistance and expertise you need!
SHORT SALE
Sell Your Home
To save your home and prevent foreclosure, a short sale may be one of the final choices available to you in the loan workout process. If you’ve exhausted all other options and have come to this conclusion, Mortgage Resolution Specialists will help you short-sell your home. With our experience in short sales and lender negotiations, MRS will accurately assemble and promptly submit your case file, proving your long-term hardship and
inability to pay. MRS will have your property listed and marketed by a qualified real estate professional and we will work with your lender to
have the best offer accepted – at less than what you owe on the mortgage. You should be aware, however, that with a short sale, the acceptance and release of liens on your property (1st, 2nd & 3rd) must be negotiated individually with your lender.
By accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and you can pay off the loan for less than you owe. Without this approval, you would not be able to sell your home. This program significantly lessens the impact to your credit versus foreclosure and if this is
your primary (owner-occupied) residence, the forgiven debt (or deficiency) of your first mortgage is, in most cases, tax-free (but please consult
with an attorney to determine your individual legal or tax implications).
While you will ultimately be moving from your home, the good news is that you can continue to live in your home while we work on getting the short sale approved, and you will have advance notice of when you need to vacate the property – providing you and your family with a dignified exit
versus the possibility of a sheriff’s escort.
By living in your home mortgage-free for several months, our hope is that you will be able to save money, feel immediate relief from financial
stress, and that you and your family can move on with your lives and start anew.
Ask your MRS specialist for more information about our affiliate real estate investors and investment groups to which we can also market your
property. These investor transactions are often completed in a matter of days or weeks.
FORBEARANCE
Keep Your Home
Even the most responsible loan borrowers may occasionally struggle with mortgage payments due to unexpected circumstances. If a Notice of
Default has been filed, a forbearance agreement is an arrangement made between you and your lender to postpone monthly payment for a limited and
specified time period and, once approved, will stop the current foreclosure action.
In forbearance, you may temporarily delay or reduce payments for a short period of time, after which another program, such as loan modification or
repayment, must be agreed upon to bring your loan current. A forbearance option is often combined with a Reinstatement when you know you will
have enough money to bring the account current at a specific time in the future. The money might come from a hiring bonus, investment, insurance
settlement, or a tax refund.
In order for your lender to accept this arrangement, you must first prove your temporary hardship and inability to pay. MRS will work with you to
collect the information necessary to confirm your financial need and help you present your case to your lender.
Mortgage Resolution Specialists does not perform loan modifications or practice law.
Mortgage Resolution Specialists is a company that provides preliminary case set up and review to help prepare homeowners for their meeting with an attorney in regards to addressing their mortgage related issues.
MORTGAGE RESOLUTION SPECIALISTS
East Bay Office
Contact: Bing Magpayo
Cell: 650-219-6064
Office: 510-889-8801
Mailing Address:
#29901 Sugar Maple Court
Hayward, CA 94544
Peninsula Office
Contact: Alex Abela
Cell: 650-455-3924
Office: 650-342-9438
Mailing Address:
1091 Industrial Road, Suite 225
San Carlos, CA 94070