Why is there not a full money back guarantee?

1st American Advisors offer a full loss mitigation service.  Our attorneys, underwriters and negotiators will do the work of negotiating with the lender even if the homeowner changes their mind later and doesn’t want to accept a lender’s offer.

Do you have to be late to try loss mitigation?

No, the goal is to preserve your home and credit status, being late is not the goal. Sometimes being late is an advantage when negotiating terms with a lender but the attorney’s may be able to raise that red flag with your lender without ruining your credit and obtain the result you are looking for.  1st American always recommends that all customers pay all the obligations they can when they can.

Are option arms/neg ams negotiable?

Yes, in most cases it is the smartest decision for everyone involved. Lenders realize that these loans were a bad move on their part, and now is their opportunity to modify them accordingly.

Are non owner occupied homes negotiable?

Yes, these are loans like any other that lenders are trying to keep performing assets. They are negotiable. The fee is due per home.

Should a home owner continue to make mortgage payments on this loan during the loss mitigation process?

Yes, the goal is to maintain a good credit score if possible and the lender will allow for it. Home owners should make all payments as scheduled if at all possible. If the lender allows you to not make a payment or make a smaller payment or the lender only currently has programs for delinquent homeowners the home owner will be notified.

Can rates/terms be negotiated lower than normal?

Yes, we have seen rates negotiated as low as 4 % and terms extended to over 40 years!