Ditech Financials LLC Deed In Lieu Of Foreclosure

Ditech Deed In Lieu of Foreclosure Process

If your current loan is serviced by Ditech Financials LLC 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 standard and similar to most companies:

1. To initiate the process, one of our team members places a call to Ditech Financials LLC. Sometimes we have to follow up after placing an appointment but once have spoken to them the process will be initiated on your Deed In Lieu Application.
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. You may be required to sometimes sell your property to someone else deeding it back to Ditech. This is done by Ditech 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 Ditech Financials LLC on behalf of the investor.
7. Terms of relocation and timeframes will be negotiated by us with Ditech.
8. Lastly, your lender (Ditech Financials LLC) provides a response to the deed in lieu of foreclosure made to them.

Going through these steps is a lot difficult than it sounds and you will know that if you have previously dealt with Ditech for getting some kind of Mortgage Assistance. There are always hoops you have to jump through or if feels like something always pops up. But you don’t have to worry ACG has a decade of experience in helping customers facing difficulties with their mortgage. It is very typical that you will have to repeat certain steps again and again. To get the job done for you we have come to know after a decade of experience dealing with these situations that we will have to run around from department to department.  Maybe you’ve been going the process of trying to get a Loan Modification with Ditech for years and it’s possible that department may need to close out your application or review. Maybe the short sale department has your file because they’re trying to push you to sell the home first. We are here to do all the running around for you. 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 Ditech Financials LLC.

Ditech Loan Deed In Lieu Timeline

Like any bank, Ditech Deed In Lieu of Foreclosure timelines can vary 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 Ditech Financials LLC.

• To begin with, Ditech Financials LLC has to follow a set of rules for any process which is called as “PSA” or Pooling and Servicing Agreement that governs the pools of mortgages they service. The PSA is like a  contract between servicer and beneficiary of the mortgage note. Due to these set of rules Ditech 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 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 fact that whether your loan has a foreclosure date or not hugely effects the timeline of the process. When a sale has to be stopped so that the Deed In Lieu of Foreclosure process can be completed the company can be very difficult to deal with. The sale dates even in the coming week are not worked on urgently as a company like Ditech 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.

Ditech Loan Deed In Lieu Timeline Conclusion: The timeline of the Ditech 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 Ditech Financials LLC 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 Ditech’s Loss Mitigation department receives the Ditech 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 Ditech Deed In Lieu application will take to be Approved.

How To Fix A Ditech Deed In Lieu Decline?

The reason as to why your application was denied can often be very confusing. Mostly miscommunication as the most important reason for 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 Ditech Financials 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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