What Are My Options?

Preventing the foreclosure of your home is and can be a stressful and daunting task. This is why we at Reyestatehomesolutions have developed this website to assist you in making the best-educated decision during the foreclosure process. There are several programs that the government, your lender, other local agencies, and possibly even your local attorney can provide. If those programs are not a fit for your current situation

Reyestatehomesolutions may have the creative options you need that the others can not provide you.

Of course, what is actually available is dependent on many factors concerning your loan and current financial position. We hope you find our website is informative and leads you to make the best decision for the desired outcome. It is important to know and understand that in the business of foreclosure “Time Waits For No One!” Nor does the Lender! and Time Is Of The Essence! The longer it takes to make a decision or take action the less time there is to help.

Short Term and Temporary Financial Situation

MORTGAGE REINSTATEMENT

If you have enough cash, you can “reinstate” your mortgage by making up all the missed payments plus fees and interest the lender/mortgage company charges you in one lump sum.

FORBEARANCE

A temporary period of time during which a regular monthly mortgage payment is reduced or suspended.

REPAYMENT PLAN

A process in which a homeowner promises to pay down past due amounts on a mortgage while continuing to make regular monthly payments on a property.

Long Term and Permanent Financial Situation

MORTGAGE MODIFICATION

A modification is any change to the terms of your mortgage loan, including changes to the interest rate, loan balance, or loan term.

Short Sale

A short sale is the sale of a home for less than the balance remaining on your mortgage. If your mortgage company agrees to a short sale, you can sell your home and pay off all (or a portion of) your mortgage balance. Consider this option if you can no longer afford your home.

DEED-IN-LIEU OF FORECLOSURE

With a Deed-in-Lieu of Foreclosure (DIL), you transfer the ownership of your property to the owner of your mortgage in exchange for a release from your loan and payments.

Reyestate Alternative Solutions

1. Home Retention Refinance Program

We refinance your mortgage, stop foreclosure, and lease your home back to you with a 36-month repurchase option. After 36 months, you can refinance, sell, or remain as a tenant.

2. 6-Month Option Agreement Plan

We stop foreclosure and cover your past-due balance, giving you 6 months to repurchase your home. Missing payments or failing to repurchase may result in equity loss.

3. Equity Protection Program

We help protect your equity by covering missed payments and guiding the sale of your home. After costs and fees, you keep the remaining proceeds. Offers must be finalized within 60 days.