The credit crisis of 2008 highlighted the dark side of mortgages and the banking industry in general. When things are going well, and property values are rising, a mortgage is a vehicle to home ownership. However, loss of a job, or a reduction in home prices can cause big problems. In those cases, the mortgage can turn into a financial burden for families all across the country. When times are bad, mortgages become inflexible, and prohibit movement to a new city or job opportunity.
Backed by years of consumer experience, the goal of Mortgage Warrior is simple: help homeowners with mortgage issues achieve flexibility that will allow them to once again enjoy owning property.
Mortgage Warrior help people negotiate a transaction called a “deed in lieu of foreclosure.” This is a process wherein the mortgage company accepts from the homeowner the deed to the real estate, instead of having to go through the entire judicial foreclosure process to obtain the deed. The homeowner avoids the cost of foreclosure and the resulting negative credit impact of the foreclosure, and the mortgage company avoids legal expenses.
We help homeowners restructure their mortgage loans so that they can save their homes. We work with your mortgage company to help facilitate this process, which can be frustrating and lengthy on your own without proper representation. Modification is ideal for people who have bad interest rates, people who are back at work after a period of unemployment, or people who have had a slight reduction in income that makes it difficult to keep up with their monthly obligations.
Losing your home to a foreclosure can be a devastating prospect, one that can leave you feeling depressed, homeless, and with a tough economic future in store. Mortgage Warrior can assist you with fighting foreclosure, foreclosure alternatives, understanding the foreclosure process, how foreclosure affects credit, and more.
If you are going through a foreclosure, or are in the process of attempting to “short-sale” your home, Mortgage Warrior can help you to obtain a deficiency waiver, an agreement between the homeowner and the bank, indicating that the bank will not attempt to collect from the homeowner any balance owed.
If your house has been foreclosed and sold, you can still get some money from a mortgage company. Homeowners are protected by eviction laws, which prohibit new owners from entering the premises and forcibly removing the occupying previous homeowners. To avoid going through the formal eviction process, mortgage companies sometimes pay homeowners to just leave. The mortgage company gets a property that is in better shape than it otherwise would have been without having to spend any additional money on an eviction lawyer, and the previous homeowner gets moving expenses.