Regions Mortgage Deed In Lieu Of Foreclosure

Regions Mortgage Deed In Lieu of Foreclosure Process

If your Deed In Lieu Foreclosure process on a loan is being serviced by Regions Mortgage then we at ACG will work our best to ensure that our customers go through a process that is simple and standard as for other companies:

1. One of the members of our team will place a call to your loan counselor at Regions Mortgage and sometimes we have to call again after placing an appointment.
2. There is a Paperwork called Request for Mortgage Assistance 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, Regions Mortgage 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.  In the next step of the process, the title of your property will have to be checked.
6. Regions Mortgage 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 Regions Mortgage.
8. Lastly, your lender provides a response to the deed in lieu of foreclosure made to them.

It may seem to be an easy process from the checklists given above but If you have dealt with Regions Mortgage in the past, you will already know that going through the above checklists is not as easy as it sounds. Several difficulties can be faced during the process, but you have nothing to worry about as ACG is here to help our customers facing Mortgage related difficulties. we will have to run around from department to department while working through the process for you. 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 Regions Mortgage.

Regions Mortgage Loan Deed In Lieu Timeline

For any company of this size, Deed In Lieu Process timeline varies greatly. Sometimes it is very unclear that what is going on behind the scenes. These are just a few of the hoops to jump through when dealing with a deed in lieu with Regions Mortgage.

• To begin with,  Regions Mortgage has to abide 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. The investor allows Regions Mortgage 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. A company like Regions Mortgage 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. 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.

Regions Mortgage Deed In Lieu Timeline Conclusion: The factors on which Regions Mortgage’s Deed In Lieu of Foreclosure process’s timeline depends are a very broad spectrum and not only limited to the ones mentioned above. If it is possible for Regions Mortgage 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 Regions Mortgage’s Loss Mitigation department receives the Regions Mortgage 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 Regions Mortgage Deed In Lieu application will take to be Approved.

How To Fix A Regions Mortgage Deed In Lieu Decline?

Miscommunication is reason for rejection of the applications 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 Regions 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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