Selene Finance Deed In Lieu Of Foreclosure

Selene Deed In Lieu of Foreclosure Process

If your Deed In Lieu Foreclosure process on a loan is going to be serviced by Selene Finance then we at ACG will work our best to ensure that our customers go through a process that is straight forward and simple as for other companies:

1. To start the process, a member of our team will have to call your loan counselor at Selene and sometimes we have to call again after placing an appointment.
2. There is a Paperwork called Request for Mortgage Assistance(RMA) is also required for the application.
3. Before they start the DIL Process you may first have to go through a review for Loan Modification.
4. Sometimes, Selene prefers that property should be sold to someone first before transferring the deed to them to prevent themselves the liability of owning the property.
5.  Next, the title of your property will have to be checked.
6.  Selene will have to do a valuation on your property on behalf of the investor.
7.  In next step, terms of relocation and timeframes will be negotiated by us with Selene.
8. Lastly, your lender provides a response to the deed in lieu of foreclosure made to them.

If you have ever experience with Selene Finance in the past, you will already know that going through the above-mentioned steps is not as easy as it sounds. Many ups and downs can be faced during the process but you have nothing to worry about as ACG is here to help you facing Mortgage related difficulties. You may often have to repeat certain steps again and again. 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. We are here to do everything for you. 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 Selene.

Selene Loan Deed In Lieu Timeline

For a company of this size, Deed In Lieu Process timeline varies greatly. These are just a few of the hoops we jump through when dealing with a deed in lieu with Selene.

• To begin with,  Selene has to follow a set of rules while servicing any loan, known 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 Selene 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, The timeline deed in lieu of foreclosure process is hugely affected if your loan has a sale date. 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. Selene has sale dates for every day so they can not work on urgent base 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 with this kind of large level. 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.

Selene Deed In Lieu Timeline Conclusion: There many other factors on which Selene’s Deed In Lieu of Foreclosure process’s timeline depends and not only limited to the ones mentioned above. If it is possible for Selene to make the decision themselves that will be much quicker. Your limit to get Deed In Lieu will also be hugely limited if you have other liens. How fast Selene’s Loss Mitigation department receives the Selene 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 Selene Deed In Lieu application will take to be Approved.

How To Fix A Selene Deed In Lieu Decline?

Miscommunication is the reason for rejection of the applications but even after it sometimes 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 Selene 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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