What
is foreclosure?
Home
foreclosure is a process by which a lender regains a
property which they have financed. Typically, this is
because the borrower or homeowner is behind on house
payments and is unable to catch up, often due to
circumstances outside of his or her control. When the
lender forecloses on the homeowner, the homeowner must
move out of the house, therefore, losing all
possession of the property and jeopardizing any
possible equity that the homeowner may have in the
home. There is a legal time frame, which varies from
state to state, which determines how long the
foreclosure process can take.
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What can Genesis Lending
Group do for me?
If after your FREE Consultation we
determine that we can help you, there are several
options to get you out of foreclosure and protect your
credit history. Loan Modification, Forbearance
Agreement, Deed in Lieu and a short sale are some of
the techniques we use to save your home.
Call us so we can explain each of these to
you and determine which apply to your particular
situation.
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What can
loss mitigation do for me?
The goal of loss mitigation is to work out an
agreement between the homeowner and the lender that
will stop foreclosure proceedings permanently. This
allows the homeowner to stay in their home and
protects their credit history.
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How does Genesis Lending
Group stop foreclosure?
Our company specializes in resolutions of mortgage
delinquencies or home foreclosure claims on behalf of
you, the homeowner. We perform a detailed financial
analysis and work with you to determine your best
alternatives. We review your lender's loss mitigation
policies and your state's foreclosure law to make sure
that we give you the best service within the context
of your situation. By working with you and your
lender, we can tailor a resolution to meet your
specific criteria and financial circumstance.
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How long
do I have to act?
Time is of the essence when you are behind on house
payments. Time is definitely not your friend in
this situation. Each day that passes makes it that
much harder to get a work out agreement with your
lender that you can live with. The home foreclosure
process can take anywhere from a few weeks to many
months, depending on your state law and the method of
foreclosure your lender chooses to use.
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Several
companies contacted me recently offering help. What
makes Genesis Lending Group different?
There are many predatory companies who are not
what they appear to be. Beware of unscrupulous
companies who are actually just interested in buying
your house at big discount, or attorneys who just want
to take you into bankruptcy or companies that collect
a consultation fee then do nothing for you. We have
some of the most experienced and well respected
specialists in the industry whose sole purpose is to
save your house, not buy it, sell it, or send you into
bankruptcy. Give us a call, speak with one of our
professionals and judge for yourself. The
consultation is FREE.
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Should I
negotiate with the lender myself?
Yes. If you are only a payment or two behind and
your lender has not hired an attorney to begin
foreclosure proceedings you may be able to negotiate a
work out agreement yourself. If you are successful
then you have saved yourself some funds that can be
used to get caught up on your mortgage. Just remember,
don't waste a lot of time on this. Time is not on your
side right now. If you don't have something worked out
within 1-2 weeks, then it's obvious that your lender
is not serious about working things out with you
directly. When you get to that point you will be
better served by professional representation that can
use the formal business and legal protocols to your
advantage. Many times they will lead you to
believe they are working out a resolution and then all
of a sudden you get a letter from an attorney.
By then it may be too late for us to help you. Don't
make that mistake.
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How long does it take for you to
complete the case once we fill out all of the
paperwork?
Anywhere from 2 days to a few months. This depends
on the stage of foreclosure, the state you live in,
your financial position and the lending institution.
Typically it takes several weeks to complete a work
out agreement and stop foreclosure proceedings.
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Do I
have enough time to stop foreclosure?
Up until the foreclosure sale occurs there is still
hope. If a sale date for your house has been set you
need to act fast. We have stopped sales set for
the next day but this is very risky and some lenders
will not agree to it. You're best option is to
take action immediately to stop foreclosure before it
goes too far.
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How much
do you charge to stop foreclosure?
Our fees are based on your mortgage payment
amount, and the complexity and urgency of your
situation. Our professional loss mitigation
consultants will evaluate your case and explain the
best options to save your home. We are confident
that you will feel that our fees are a bargain
compared to the cost of the alternatives. We offer a
money back guarantee if we cannot get you a work out
agreement with your lender(s) as long as no sale date
has been set.
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I'm
currently in bankruptcy. Can you still help?
Yes. But we cannot negotiate a work out agreement with
your lender until your mortgage has been discharged or
dismissed from the bankruptcy proceedings. Our
professional loss mitigation consultants can still
evaluate your case and explain the best options to
save your home. Then when the mortgage is out of the
bankruptcy, we can proceed with the home foreclosure
help. Sometimes after bankruptcy, it is easier to make
a mortgage payment because other debts have been
discharged.
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I've
already talked with my lender and they just want all
their money. Can you still help me?
Yes. Most of our clients have experienced this
kind of inflexibility from their lenders before
calling us. We get your bank to listen to your needs
because they know and trust us. We have
mitigated thousands of home foreclosure cases. That
kind of experience gives us credibility with your
lender. Over the years we have developed
positive working relationships with key people at most
banks. Our integrity and professionalism have
earned us a reputation that allows us to be heard when
no one else can get through the red tape. We will use
our experience and connections to your advantage.
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Should I
file for bankruptcy to save my house?
No! That usually doesn't work. The
American Bar Association has reported that 96% of
homeowners who declare bankruptcy end up losing their
home to foreclosure anyway. Bankruptcy is very
unlikely to help you save your home. If you declare
bankruptcy you will likely end up with BOTH a
bankruptcy and a foreclosure on your credit report.
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Do I
need to have a special type of mortgage loan for Genesis Lending
Group to help me?
No. We specialize in out-of-court resolutions of
government and non-government mortgage delinquencies
or home foreclosure claims for homeowners. These can
be FHA, Rural Administration, VA, Freddie Mac, Fannie
Mae, or conventional loans which have become
delinquent.
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What if
I can no longer afford my home? Can Genesis Lending Group
still
help me?
Yes. If you are certain that you cannot afford
your home any longer and wish to sell, we can help you
to secure a short sale payoff or a deed-in lieu of
foreclosure agreement with your lender. Often times
these agreements can be arranged at low or no cost to
you.
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