Planet Home Lending Deed In Lieu Of Foreclosure

Planet Home Deed In Lieu of Foreclosure Process

if you are applying for loan serviced by Planet Home then we at ACG will work our best to make sure that our customers go through a process that is simple and standard as for other companies:

1. As a first step, a member of our team will have to place a call to your loan counselor at Planet Home and sometimes we have to call again after placing an appointment but once we have spoken, it will be the start of the process.
2. 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. Planet Home 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. The title of your property will have to be checked in the next step of the process.
6. Planet Home will have to do a valuation on your property on behalf of the investor.
7. The terms of relocation and timeframes will be negotiated by us with Planet Home.
8. Your lender provides a response to the deed in lieu of foreclosure made to them.

Going through all the checklists mentioned above is not as easy. During the process, you may face many difficulties from time to time but you have nothing to worry about as ACG has a specialized team to help our customers facing Mortgage related difficulties. 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 and 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 Planet Home.

Planet Home Lending Loan Deed In Lieu Timeline

The timeline of the Deed In Lieu Process varies greatly. Sometimes it is uncertain 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 Planet Home.

• To begin with,  Planet Home Lending is just a servicer of the loan and has to follow 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. 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 Planet Home 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. Mostly we have seen miscommunication can lead to certain failure while dealing with 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.

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

How To Fix A Planet Home Lending Deed In Lieu Decline?

The reason we have seen the most for the decline of the application is miscommunication 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 Planet Home 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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