Walk Away Program, LLC has several different options for you to be able to keep or stay in your home. Depending on your equity position will determine the best strategy if you would like to keep your family in the house. Under our Gold Walk Away Program the options are to either to negotiate a short sale or restructure the loan.
With a loan restructure there are several ways for homeowners to maintain their residence.
- The Gold Walk Away Program can negotiate a loan modification or forbearance agreement with your lender.
- Depending on the equity position a Walk Away Program affiliate can do a traditional refinance through an institutional lender for the FHA Secure Program or other real estate foreclosure bail out programs.
- The Walk Away Program can refer you to an affiliate that specializes in small short term second notes that can be used to reinstate the delinquent payments and bring current the existing first mortgage.
If options 1 through 3 do not work and the homeowner still does not want to move then it is still possible with a Leaseback.
Even if a person qualifies for one of these options the homeowner and their Walk Away Consultant will discuss to ensure that the restructure will cure the issues and not just temporarily fix the problem. The Walk Away Program wants to ensure that we don’t chose an option to find out a short time later that the homeowner is back in the same predicament.
Quick definitions of Loan Restructuring:
Loan Modifications: Gold Walk Away Program -Your current lender allows one or more of these changes to occur. Either a change to the interest rate, loan amount or payment. This could stop a real estate foreclosure.
Loan Forbearance: Gold Walk Away Program Your current lender will negotiate to pay a portion of the delinquent amount up front and the remainder will be paid over the next twelve months. Some forbearance agreements allow some or all of the delinquencies to be tacked on the back of the loan. This would stop your real estate foreclosure.
Loan Refinance: Using an institutional lender that specializes in foreclosure bailouts or the FHA Secure Program. Must have equity.
Loan Reinstatement: Gold Walk Way Program - Either using an institutional lender or a private lender (a.k.a. hard money) acquire short term small loan to bring 1st mortgage current. Again must have equity. Also will carry higher rates.