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**We are not affiliated with any mortgage servicer, the investor/beneficiary of your mortgage note, the mortgage insurer (if applicable) or any government agency. The information found on this page is for educational and convenience purposes only. The information found on this page should be considered as opinion and not fact based on our experience with lenders over 10+ years. Consult your mortgage servicer directly or a professional before using any of the information found on this site. If you are seeking an intermediary to assist you in getting help with your mortgage you may contact us at 888-934-3444 or via email at [email protected] for further review for a no fee, no obligation, consultation. If required you may be referred to a local professional or legal counsel for additional assistance with your mortgage. Please read through our Disclaimer page for additional details. We do not represent in any way any financial institution named on this page. If you feel that any of this information has become outdated or is incorrect please contact us immediately.**

PennyMac Mortgage Deed In Lieu Of Foreclosure

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PennyMac RMA Deed In Lieu of Foreclosure Package

Mortgage Assistance Form.

Deed In Lieu Decline

PennyMac Deed In Lieu Application Denied?

PennyMac Loan Mortgage DIL Process

How does a deed in lieu work? Learn.

PennyMac Loan Deed In Lieu Negotiators. We're On Top.

 

PennyMac Deed In Lieu of Foreclosure Process

If you are using loan services of PennyMac and you want to apply for Deed In Lieu of Foreclosure then we at ACG will make sure that our customers go through a process that is similar to most companies:

  1. As a first step, one of our team members places a call to PennyMac and sometimes we have to follow up after placing an appointment.
  2. Request for Mortgage Assistance Paperwork is also required for the process.
  3. You may have to go through a review for Loan Modification before the DIL process.
  4. Sometimes You may be required to sell your property to someone else deeding it back to PennyMac. This is done by PennyMac to protect themselves from the liability of the property.
  5. You will have to get your property’s title checked as the next step of the process.
  6. A valuation will be completed on your property by PennyMac on behalf of the investor.
  7. Terms of relocation and timeframes will be negotiated by us with PennyMac.
  8. Lastly, your lender (PennyMac Mortgage) provides a response to the deed in lieu of foreclosure made to them.

The process with PennyMac is never easy and anyone who has been through the process will know this. It’s sometimes very typical to repeat the same steps again and again. But you don’t have to worry ACG can help customers facing difficulties with their mortgage. To get the job done for you we will have to run around from department to department. Maybe you have been going through a loan modification process with PennyMac for a long time and maybe they have to close the file or review it. Maybe the short sale department has your file because their trying to push you to sell the home first. We are here to do everything for you and most importantly you should be able to figure out when they are sending you in the wrong direction. Often clients come to us after submitting the wrong information on their deed in lieu application, getting denied, and not being able to figure out what happened. We can help you through the process of doing a deed in lieu of foreclosure even if that means reviewing a decline made by PennyMac.

PennyMac Loan Deed In Lieu Timeline

Similarly to any company of its size timeline of Deed In Lieu Process varies greatly. Sometimes it varies due to obvious reasons and sometimes it is not clear what is going on. These are just a few of the hoops we jump through when dealing with a deed in lieu with PennyMac.

  • To begin with,   PennyMac only works as servicer of mortgage notes. Therefore, PennyMac’s mortgage division has to abide by the PSA or Pooling and Servicing Agreement that governs the loans. This contract is directly between servicer and investor. Due to these set of rules, PennyMac cannot always make a decision themselves and for the decision that they are not allowed to make they will have to get approval from the investor. Some investors such as Fannie Mae (FNMA) and Freddie Mac (FHLMC) have pulled almost all decision making authority from many servicers. As always the greater the number of hands in the put the more layers of bureaucracy you’re going to deal with.
  • Additionally, TThe fact that whether your PennyMac loan has a sale date or not greatly effects the short sale timeline. If it comes to stopping the sale so that the PennyMac short sale process can be completed, they can be very difficult to deal with. The sale dates even in the coming week are not worked on urgently as a company like PennyMac has sale dates for every working day of the week. Remember this business is a first come first serve but it is also influenced by foreclosure status and proximity to the sale date.
  • Finally, not all negotiators were created equally. This goes for both sides which is what makes the process so tricky. At such a large level of this type, miscommunication can lead to certain failure. It is a very specialized skill to represent a homeowner in this niche of Deed In Lieu of Foreclosure process that can be learned only through experience. Often you will be put through the multiple levels of management including approval from an investor as mentioned above depending on what their total losses are for the banking institution who owns the interest in the loan.

PennyMac Loan Deed In Lieu Timeline Conclusion: The timeline of the PennyMac Deed In Lieu Of Foreclosure depends on a very broad range of factors and not only limited to the ones mentioned above. A decision will be made a lot quicker if PennyMac can make it themselves. What the lender perceives as the value of the property will also affect the timeline. If you have other liens this is also likely to limit your ability to complete a deed in lieu. How fast PennyMac’s Loss Mitigation department receives the PennyMac Deed In Lieu Forms to apply for mortgage assistance are received (readable) and other factors will come together to affect how long it will take for your PennyMac Deed In Lieu application will take to be Approved.

If Your PennyMac Loan Deed In Lieu of Foreclosure Was Denied There May Still Be Options.

 

How To Fix A PennyMac Deed In Lieu Decline?

Often dealing with PennyMac and the reason as to why your application was denied can often be very confusing. Mostly we have seen miscommunication as the most important reason for the decline. Often they will not be clear not only as to why but if there is anything that can be done to fix it.  Here at ACG we review dozens of points in order to understand why your  PennyMac deed in lieu offer was rejected. Have us review your declined deed in lieu for free by calling us at 888-934-3444.

PennyMac Deed in Lieu Reviews

PennyMac Deed In Lieu Complaints

Often we have gotten on the phone with an PennyMac Loan for one of our Customers where we received an offer that changed at a later date.They can be very difficult to work with. When dealing with a Loan Servicing where the people on the phone make you feel like they don’t care getting a straight story can be difficult with your PennyMac.

PennyMac 1 Star Review:

Penny mac tried to foreclose on my house even while i was making my mortgage payments.  They would put my mortgage payments into my escrow and then say i didnt make my payment. Penny mac paid an insurance company  $2500 out of my escrow account that wasnt even my insurance company.
Please don’t use them. They will foreclose in any way they can. Crooked company Della L, Willis, TX

PennyMac 1 Star Review:

I wish I would have read these reviews prior to starting the loan process with them.  2 days prior to close they drop a bombshell on me and say that I need to fix a number of things that were listed as marginal on the inspection report. This is after having the inspection report for 2 weeks.  This is just one of the many things they have failed at.  They can’t tell me exactly when they are going to close the loan.  I’ve never seen such incompetence with a company.  DO NOT USE THEM TO PURCHASE A LOAN. Cliff L, Reno, NV

Don't Be A 1 Star Review

 

Don't Be A 1 Star Review

 

PennyMac 1 Star Review:

I’m still dealing with an issue over overpayment (my mistake) from 10/16.  I’ve spent countless hours and talked to countless reps trying to get this resolved.  In December they withdrew 2 mortgage payments and I am left with overdraft fees.  They say they will pay them and then I never hear from them again.

I am going to remortgage the first chance I get because between the incompetency, unprofessional attitudes,  lies and calls that I owe them (when in fact they owe me) I don’t need the stress.  The first time I need help (I mistakenly paid my mortgage twice using different banking accounts) it’s been a nightmare and now January 2017 i’m still spending hours on the phone with them trying to resolve.  I had to file a complaint with the BBB and now i’m told because I did that, it’s going to take longer for me get anything resolved.

My loan was sold to Pennymac, try to avoid this company if you can.  I want to add my property tax to my mortagage, but I won’t with Pennymac, i’m afraid of how many calls and issues I’ll have with doing anything with my account. Pauline N, Los Angeles, CA

1 Star Situations Happen Every Day

 

ACG 5 Star Review:

Tried modifying my mortgage loan on my own, twice actually, but no luck. Until I called ACG. [I] got my loan mod approved and all is well. Michael, Woodland Hills, CA

ACG 5 Star Review:

We were struggling trying to get assistance in keeping our home for over a year when I was introduced to ACG Today both my homes are modified and our family has a chance for a fresh start. Patricia, Porter Ranch, CA

ACG 5 Star Review:

I have worked with [the] team personally and professionally referring them many clients over the past few years. If you need help with a loan modification, short sale, or want to avoid foreclosure I highly suggest you use Absolute Consultant Group! Daniel, Santa Clarita, CA

You Know You can't Chance Being A 1 Star Review.

ACG Specialist Here To Help Your PennyMac Mortgage.

You Know You can't Chance Being A 1 Star Review.

ACG Specialist Here To Help Your PennyMac Mortgage.

PennyMac Deed in lieu News

PennyMac Corp Foreclosure Process

**We are not affiliated with any mortgage servicer, the investor/beneficiary of your mortgage note, the mortgage insurer (if applicable) or any government agency. The information found on this page is for educational and convenience purposes only. The information...

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