Home Point Financial Deed In Lieu Of Foreclosure

Home Point Financial Deed In Lieu of Foreclosure Process

If you going to applying for Deed In Lieu Foreclosure process on a loan serviced by home Point Financial then we at ACG will work our best to ensure that our customers go through a process that is simple and standard as for other companies:

1. A member of our team will have to call your loan counselor at Home Point Financial and sometimes we have to call again after placing an appointment but once we have spoken the process will be initiated.
2. Paperwork called Request for Mortgage Assistance is also mandatory for the application.
3. Before they start the DIL Process you may first have to go through a review for Loan Modification.
4. Home Point Financial may prefer that you sell your property first to someone else before transferring the deed to them to prevent themselves the liability of owning the property.
5. In next step, the title of your property will have to be checked.
6. Home Point Financial will have to do a valuation on your property on behalf of the investor.
7.  In next step, Home Point and Our team will negotiate terms of relocation and time frames.
8. Lastly, your lender provides a response to the deed in lieu of foreclosure made to them.

Unfortunately, it is not easy to deal with all the steps mentioned above and you may have realized it too if you have ever dealt with Home Point. During the process, you will have to face many difficulties but you have nothing to worry about as ACG has a specialized team having experience of more than a decade to help our customers facing Mortgage related difficulties. It is good for you to know that we will have to run around from department to department. It could be that you have been trying to get a Loan Modification from them for a long time and they still need to close the file or review it first. Maybe they want you to sell the house first so the short sale department has your file. We are here to do everything for you and most importantly you should be able to understand when they are sending you in the wrong direction. Mostly, 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 Home Point.

Home Point Loan Deed In Lieu Timeline

Home Point is a big company so the timeline of the Deed In Lieu Process varies greatly. Sometimes it is very vague that what is going on behind the scenes. These are just a few of the hoops we jump through when dealing with a deed in lieu of Home Point.

• To begin with,  Companies like Home Point Financial are servicers of mortgage only and they have to abide by a set of rules while servicing any loan which is called as “PSA” or Pooling and Servicing Agreement that governs the pools of mortgages they service as they are only a servicer of Mortgage and usually represent an investor. The PSA is like a  contract between servicer and beneficiary of the mortgage note. The investor allows Home Point the authority to make some decisions only and for the decisions that they cannot make themselves they will have to get permission from the investor. Some investors such as Fannie Mae (FNMA) and Freddie Mac (FHLMC) have pulled almost all decision making authority from many servicers and take care of many of the decisions themselves. As always the greater the number of hands in the put the more layers of bureaucracy you’re going to deal with.
• Additionally, if your loan has a sale date the timeline deed in lieu of foreclosure process is hugely affected. If the sale has to be stopped to complete the deed in lieu of foreclosure process then they become a lot difficult to deal with. A company like Home Point has sale dates for every day of the week so they are not worked on as urgently as you want them to. Remember this business is a first come first serve but it is also influenced by foreclosure status and proximity to the sale date.
• Finally, All negotiators were not created equally. What makes the process tricky is that this goes for both sides. Miscommunication can lead to certain failure while dealing at this kind of large level. Representing a homeowner during the process of Deed in Lieu Of Foreclosure is a very specialized skill that can be learned through experience only. 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.

Home Point Deed In Lieu Timeline Conclusion: There are many factors on which Home Point’s Deed In Lieu of Foreclosure process’s timeline depends. If it is possible for Home Point to make the decision themselves that will be much quicker. If you have other liens your limit to get Deed In Lieu will also be hugely limited. How fast Home Point’s Loss Mitigation department receives the Home Point 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 Home Point Deed In Lieu application will take to be Approved.

How To Fix A Home Point Deed In Lieu Decline?

Miscommunication is the reason for the most of application to decline but it can often become very confusing as to why it was rejected. 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 Home Point deed in lieu offer was rejected. Have us review your declined deed in lieu for free by calling us at 888-934-3444.

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