Caliber Home Loans Deed In Lieu Of Foreclosure

Caliber Deed In Lieu of Foreclosure Process

If Caliber Home Loans is the one servicing your loan then we at ACG will make sure that our customers go through the process of Deed In Lieu Foreclosure that is simple and standard and similar to other Banks:

1. First of all a person from our team will place a call to speak to you loan counselor at Caliber Home Loans, Sometimes we will have to follow up after placing an appointment but once we speak to them the Deed in Lieu Foreclosure Process will initiate.
2. You will also need a paperwork called Caliber Request for Mortgage Assistance (RMA).
3. In some of the cases, you may have to go through a Loan Modification review before being selected for consideration in DIL Process.
4. Before taking on the liability of owning the property they may require that you sell the property first to somebody else and deed it to them.
5. You will have to get your property title checked as the next step of the process.
6. The investor will want Caliber Home Loans to complete a valuation of the property and some investors may require two valuations
7. Next, we will have to negotiate terms with Caliber Home Loans about relocation terms and time frames.
8. As the last step of the process the lender i.e: Caliber Home Loans will make an answer to your application of Deed in Lieu Foreclosure made to them.

Going through the steps mentioned above is never as easy as it sounds from these steps and if you have dealt with Caliber Home Loans in the past you may have noticed that too. Something will always show up and there will always be some difficulties to be faced when you are working with them. But having said this you don’t have to worry about anything as ACG is here to help to streamline the process with your lender and we have over a decade of experience in this. When you are dealing with Deed in Lieu Foreclosure negotiators it is typical to repeat certain steps of the process. We have been dealing with it for more than a decade and so know that we will have to run around from department to department getting your problems solved. Maybe it happens that you have been trying to get Loan Modification from them and they need to close that out or review your application. Maybe they want you to sell your home first so the short sale department has your file. We are here to do all the running around for you. Most important of all it is important that you figure it 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 Caliber Home Loans.

Caliber Home Loans Deed In Lieu Timeline

Similar to any other bank Caliber Deed In Lieu Timeline is also not specific. Sometimes what is going on behind the curtains is clear but this is not always the case. These are just a few of the hoops we jump through when dealing with a deed in lieu with Caliber Home Loans.

• To begin with,  Caliber is only a servicer of the loans not a bank and they are only working for a lender to service the loans as their name suggests. Due to this, Caliber Home Loans have to work according to the set of rules that are called “PSA” or Pooling and Servicing Agreement that governs the pools of mortgages they service. It is like a  contract between servicer and beneficiary of the mortgage note. Due to these rules, it is not always possible for Caliber Home Loans to make all the decisions themselves and for the decisions that they are not allowed they 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 other thing that affects the timeline of Deed In Lieu of Foreclosure is the fact that whether your loan has a nearing foreclosure date or not. Caliber can become really difficult to deal with when it comes to stopping the sale that a Deed In Lieu of Foreclosure can be completed. As Caliber Home Loans is a large company so they have home going on foreclosure on every business day. Due to this, the applications are not worked 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, not all negotiators were created equally. This goes for both sides which is what makes the process so tricky. In case of miscommunication, you will be headed for certain failure. It is a specialized skill of understanding this niche of representing homeowners in front of Caliber for Deed In Lieu of Foreclosure Application. 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.

Caliber Home Loans Deed In Lieu Timeline Conclusion: The timeline for Caliber Deed in Lieu of Foreclosure does not only depends on the factors mentioned above but various more factors too. More time will be taken for the decisions as Caliber Home Loans has to get approval. Some other factors also effect it such as what is the value they perceived. If you have other liens this is also likely to limit your ability to complete a deed in lieu. How fast Caliber Home Loans’s Loss Mitigation department receives the Caliber Home Loans 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 Caliber Home Loans Deed In Lieu application will take to be Approved.

How To Fix A Caliber Home Loans Deed In Lieu Decline?

It can be often confusing as to why your Deed In Lieu of Foreclosure application was denied. The reasons we have seen go back to as the miscommunication being the important. They will not often tell you clearly why it happened or even if anything can be done to fix it. Here at ACG we review dozens of points in order to understand why your Caliber 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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