Guild Mortgage Deed In Lieu Of Foreclosure

Guild Mortgage Deed In Lieu of Foreclosure Process

If you are thinking about applying for applying for Deed In Lieu of Foreclosure on a loan that is serviced by Guild Mortgage than we at ACG can help you by making sure that you go through a process that is standard when compared to the process of other companies:

1. A person from our team of highly experienced professionals will have to place a call to Guild Mortgage to talk to your loan counselor about initiating the process.
2. You will also require the Request for Mortgage Assistance (RMA) paperwork.
3. Sometimes they may also require you to first go through the review for Loan Modification.
4. Sometimes before you deed the property back to Guild Mortgage they may ask you to sell it to someone else to prevent themselves from the liability of owning the property.
5. The next step of the process is to get the title of your property checked.
6. Guild Mortgage will now have to complete a valuation on your property on behalf of the investor involved.
7. Our team will then negotiate the terms of relocation and time frames with the company.
8. In the last, a response will be provided by your lender (Guild Mortgage) to the application of DIL.

Anyone who has dealt with Guild Mortgage in the past will already know that going through the above steps is not as easy as it sounds. You will often have to repeat the same steps again and again and a lot of difficulties will have to be faced. ACG is a company here to help our customers with mortgage related difficulties so you have nothing to worry about. We have to run around from department to department to get the job done for you. Maybe Loan Modification department has your file because you have been trying to get loan modification from them for a long time. Maybe they want you to sell your home first so the short sale department has your file. You will not have to do anything as we are here to do everything for you. 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 Guild Mortgage.

Guild Mortgage Deed In Lieu Timeline

The timeline for the DIL process for Guild Mortgage varies greatly just like it would for any company its size. Sometimes it is clear what is going on but sometimes it gets very difficult to figure out what is going on. These are just a few of the hoops we jump through when dealing with a deed in lieu with Guild Mortgage.

• To begin with,  Guild Mortgage is only just a servicer of mortgage notes and they are usually always working for an investor. A set of rules called as “PSA” or Pooling and Servicing Agreement which govern the pool of mortgages they service have to be followed by Guild Mortgage. The PSA is like a  contract between servicer and beneficiary of the mortgage note. Due to the presence of these rules for the decisions that they have not been allowed by the investor to make 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, One other factor that has a huge effect on the timeline of DIL process is the fact that whether or not your loan has a sale date or not. Guild Mortgage can become especially difficult to deal with if a sale has to be stopped to complete the Deed in Lieu of Foreclosure Process. Large size companies like Guild Mortgage have sale dates for usually every day of the week so they are not worked on as quickly as you want them to be. 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 though 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.

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

How To Fix A Guild Mortgage Deed In Lieu Decline?

Sometimes it can get quite difficult to figure out as to why you application was declined. The reason we have seen the most for decline is miscommunication. 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 Guild Mortgage 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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