FACING
FORECLOSURE?
You may still have options.
If you've fallen behind on your mortgage payments and your lender has started foreclosure proceedings, having equity in your home could provide a solution.
Here is an example of a recent foreclosure payout we completed...
Property Value: $550,000
Outstanding Debts:
-
Existing Mortgage: $320,000
-
Missed Mortgage Payments: $15,000
-
Property Tax Arrears: $12,000
-
Legal & Foreclosure Costs: $8,000
Total Debt: $355,000
The Problem
The homeowner has fallen behind on mortgage payments, and the lender has started foreclosure proceedings.
The bank has declined to refinance.
The Potential Solution
-
New Private Mortgage: $362,245
-
Interest Rate: 9.75%
-
Brokerage Fee: 2% (included)
New Monthly Payment: $2,943
The outstanding mortgage, arrears and legal costs could be paid out, potentially stopping the foreclosure process before the property is sold.
Keep Your Home. Regain Control. Plan Your Next Step.
Call Chris: 204-999-2194
Hypothetical example. New payment is interest-only and does not reduce principal. Additional lender fees, legal costs and penalties may apply. Financing is subject to approval and must be completed before applicable foreclosure deadlines. A private mortgage does not guarantee foreclosure can be stopped.
PRIVATE &
SECOND MORTGAGES
