Information Disclaimer: Not Your Loan Servicer (Read More)
**We are not affiliated with any mortgage servicer, the investor/beneficiary of your mortgage note, the mortgage insurer (if applicable) or any government agency. We are a homeowner advocacy group with more than a decade of helping homeowners and professionals with mortgage assistance negotiations. The information found on this page is for educational and convenience purposes only. The information found on this page should be considered as opinion and not fact based on our experience with lenders over 10+ years. Consult your mortgage servicer directly or a professional before using any of the information found on this site. If you are seeking an intermediary to assist you in getting help with your mortgage you may contact us at 888-934-3444 or via email at [email protected] for further review for a no fee, no obligation, consultation. If required you may be referred to a local professional or legal counsel for additional assistance with your mortgage. Please read through our Disclaimer page for additional details. We do not represent in any way any financial institution named on this page. If you feel that any of this information has become outdated or is incorrect please contact us immediately.**
Seterus Bank Deed In Lieu Application, Forms And Packages
Are You Still Dealing With By Yourself?!
Click To Be Connected To A Pro Near You.
?Are You Still Dealing With By Yourself?!?
Click To Be Connected To A Pro Near You.
Step 1: Fill Out Deed In Lieu Forms
Find out why no one knows more than we do.
What is Deed In Lieu Package?
Deed in Lieu Foreclosure Request For Mortgage Assistance (RMA)
requires that when you want to apply for a deed in lieu foreclosure doing a Deed In Lieu Application Form or Request For Mortgage Assistance ( RMA) is required by and their investor (the beneficiary the note). The first step is to complete this document correctly in order to start the first step towards getting to deed your back to the beneficiary. Prior to using any applications, you should check with us (ACG), with another expert or even your single point contact because not only does have their own package which may change at any time but their investor might require specific documentation as well. A very few professionals really specialize in the dealing with and their deed in lieu foreclosure process so finding the right one is crucial because you should be able to avoid many the foreseeable pitfalls that come with the application deed in lieu process. That’s why we put the latest paperwork we could find online to help . Helping you through the process is what we do. We offer a done for you service. Click here and fill out the form to request a call from a deed in lieu professional or call 888-934-3444.
What is the Deed In Lieu Hardship Affidavit?
Deed in Lieu Foreclosure Hardship Letter
has a hardship affidavit (or statement) built into their mortgage assistance application (the RMA),
Pro Tip: , when reviewing your application to deed the property back to them, may require you to attempt to sell the first. This used to be a requirement but has been more flexible over the recent years.
What Is A Deed In Lieu Foreclosure?
Deed In Lieu Foreclosure Definition
A deed in lieu foreclosure is a form for foreclosure alternative that allows the homeowner to walk away from their property and give it back to their lender either because they don’t want to go through the hassle selling the or because they have tried and have not been able to do so.
Step 2: SubmitPNC Mortgage Deed in Lieu Package
Thoroughly review your documents. The wrong information can hurt you!
Deed In Lieu Submittal
Submitting Your Deed In Lieu Package to To Get The Process Going.
What is in the Assistance Package?
Like any other lenders including , all require pretty much the same documentation. It does not matter how much you want to avoid it in many cases they will require a listing agreement to see you’ve attempted to sell the for more than 90 days and that’s only the beginning.
At some time they, they require you to provide your financial information such as a monthly budget, your tax returns for the last two years along with a 4506t to show the returns were actually filed, pay stubs or proof of income like a profit and loss, statements, reason for requiring to do a deed in lieu, and a hardship letter.
Pro Tip: In most cases working with a skilled team such as ours should be able to pick out the items that will most likely be asked by your lender and more important which items will not. The moment your lender has to requested items from you it’s likely they passed over your deed in lieu application when the process could have continued. Now you’re going to have to wait for it to be your turn again.
Step 3: Deed In Lieu Foreclosure Broker's Price Opinion (BPO) or Appraisal
Deed In Lieu Value
Getting The Correct Value Goes A Long Way.
In order for deed in lieu process to be completed with your servicer ( ), you must know how much your is worth. Valuation the house is completed by a real estate agent/broker or appraiser who reviews the comparables in the area to establish what the is worth. In a valuation process properties that had sold and are on sale, both are reviewed. Generally, they want to see the homes that have sold within the last 3 to 6 months but this depends on the volume homes actively moving in your local market. They consider your homes perceived condition, the size the living space, how many stories it has, the size the lot and whether or not it has a pool.
They will also consider market conditions and how fast homes are selling in the area. There are many factors they take into consideration which is why they hire a local professional rather than go online and use something like Zillow or Redfin.
Deed In Lieu Appraisal
Deed In Lieu Appraisal Values
Mortgages have different investors. is responsible for representing the correct values to those investors so they can make their final decisions. ‘s beneficiary is already going to be taking a loss so in most cases they will hire a local agent or broker to do a value referred to as a BPO or Broker’s Price Opinion because it’s cheaper than an appraisal. That will not always work though. In certain cases the mortgage investor requires a deeper review to be completed by a licensed appraiser and one that is often certified by that investor to complete values as per their guidelines. Real Estate Appraisers are licensed specifically to value homes where as agents can give their opinions (hence Broker’s Price Opinion) but that can almost always be over turned by an appraisal. Some investors such as Fannie Mae (FNMA) complete two appraisals. The type of value completed varies from servicer to servicer and investor to investor.
Value Disputes and Variances
Fighting Values, Disputing Them and Requesting Variances
Sometimes a value return too high or too low? which can happen to a beginner or a true professional. One reason of that variance that they are not from the area and they are comparing properties that don’t have anything in common with the subject property it does not matter how much you may try to meet with the BPO Agent or the Appraiser. At this time you can provide a competing appraisal or set of comparables but choosing the right properties to compare is a skill set on its own. Call today at 888-934-3444 and we’d happy to discuss any hold ups you may be experiencing in your Deed in Lieu.
Pro Tip: Deed In lieu Value Variance is an opportunity to apply for a mortgage assistance servicer such as to vary from their typical practices. Often values are good from the day they are completed for 90 days; Sometimes longer especially when it comes to a deed in lieu.
Step 4: Finalizing Deed In Lieu Terms
How Long Does Deed In Lieu Process Take
‘s Deed In Lieu Foreclosure Time Line Coming To An End.
Once the value has returned and they have a complete package this is where ‘s Deed In Lieu negotiator will decide to submit the file to the management or the investor for approval. They will not submit anything they don’t feel will get approved by management and the investor because they get graded on their results. Often there are many steps before getting approved. An audit happens before the submission to management and after approval there is often another audit that occurs before an approval letter is issued to you the homeowner or the professional (such as our company) that is representing you.
Countering Terms of 's Deed In Lieu Offer
Final Decision on the Deed In Lieu Foreclosure
This is also the time when may issue a decline to your deed in lieu request. Combating either a decline or the terms offered to you can be difficult. Often there are three main parts to an approval that matter most to you. The move out date and condition, what amount if any is allowed to go to you for relocation costs, and what is going to happen to the deficiency after the deed in lieu. The laws in different states may vary on whether or not they have the right to pursue you. Factoring many of these issues takes a special set of skills that can only be gained through experience. Anyone can get the easy ones done but it’s the difficult transactions that separate that experts from the trainees.
Step 5: Deeding The Back To or The Investor or A Mortgage Insurance Company
Deed In Lieu Vacate Procedures
How quickly will I need to move out my ?
The lender will want you to deliver the in good condition. 30 days will be given to moving out but that can often be negotiated. Depending on how quickly you vacate the property, relocation money can be offered . Deed in lieu is like closing a typical real estate transaction. Once all lien holders and any mortgage servicers have approved the terms of the deed in lieu you can move forward grant deeding the property back to whomever you are instructed to deed it over to. By now a title search has probably been run by your lender as they will not want to take back possession of the property unless there are no longer any liens.
Deed In Lieu time to vacate extensions
Issues Deed in lieu Extension
What happens I can’t leave my in time and the approval letter expires? We get this question from our clients regularly. It really depends on many factors including but not limited to the delinquency the mortgage, whether the value they have on file for your has expired, and various other hurdles. You can consult with one our experts to see if you need more time and to see if you can get an extension or if you will have to start the process all over again. ‘s Management will be one the challenges ahead you. Results may vary greatly but the best part our services is we only get paid if the transaction successfully closes! Call today for more information about our “Done For You” services. Call 888-934-3444 or email at [email protected]
Pro Tip: Deed in lieu foreclosure may effect your credit worse than doing a short sale. It is still better than a foreclosure on your credit but lenders that might lend to you in the future might say it’s as close to as bad for your report. At least a deed in lieu shows you didn’t have any other options and you didn’t fight them but this varies from case to case.
We've Been Dealing With For Over A Decade!
Click To Be Connected To A Pro Near You.
?Don't Get Lost In 's Web!?
Click To Be Connected To A Pro Near You.
How Does ACG Get Paid?
Absolute Consultant Group (ACG) handles the process of applying to your mortgage lender for deeding back your property. We streamline the process for you. ACG doesn’t charge upfront which is a good thing but did you know in the case that doesn’t approve the transaction we don’t get paid a dime. In some cases the lender will even pay our fee. It’s a no risk opportunity to work with the right team to help you with your mortgage. Call for details 888-934-3444.
Understanding The Deed In Lieu Status
If there’s anything you can take away from the process you may already be aware from the Deed In Lieu Application is a lengthy document. hasn’t simplified the process much better either. To make your life easier ACG has put in the time and the efforts to offer you a streamline process of application for the deed in lieu with a few steps as possible in order to reach your mortgage assistance goals.
Assistance For in
Locally founded here in the USA our company becomes your single point contact for all your challenges. With you get someone here in the states to work with. You and your with ACG are in good hands. When you work with Absolute Consultant Group for all your lender needs we become your one stop shop for working with ‘s deed in lieu process or any other mortgage assistance programs from start to finish.
Call 888-934-3444 Today.
Deed in Lieu Package Breakdown
What is the Deed In Lieu Package?
require a Deed In Lieu Package known as the Request for Mortgage Assistance ( RMA) to be completed in order to apply. It’s important to always use the most up to date paperwork when applying; Always check with a professional. The paperwork we last found was put up on the Absolute Consultant Group (ACG) Website. ACG helps homeowners with their deed in lieu process.
There are 6 Sections to the standard deed in lieu forms.
Need Assistance With ?
Need Assistance With ?
Deed In Lieu RMA Forms PDF Breakdown:
Hardship Affidavit Application Check List
- Borrower Information This section requires the complete information the borrower and co-borrower.
- Property Information In this section you have to fill the property address, mailing address and details about homeowners association (HOA) fees.
- Household Income In this section you will be required to put the monthly income details the whole household.
- Household Assets This section will require that you fill out all the details all the assets currently owned.
- Hardship Information This section requires the details the hardship which the consumer is facing and the type hardship.
- Borrower Certification This section lists the terms and conditions for your application for mortgage assistance
is Difficult. Don't Go It Alone. Professionals Standing By.
Disclaimer: Using The Wrong Form May Lead To A Denial
We provide mortgage servicers mortgage assistance package, forms, and applications to for educational purposes only. This is a sample document used to obtain mortgage assistance relief workout programs with your mortgage servicer. Prior to completing the form contact your (your client's) Mortgage's servicing department OR one of our professionals at 888-934-3444 to make sure they are sending the right loan modification or short sale package. Your home loan servicer, whether dealing with a Home Loan Modification or Short Sale (mortgage settlement, short pay off or discounted payoff) RMA Package offered on this website may not be the correct package depending on your investor. By downloading this RMA (Request for Mortgage Assistance) from our website does not guarantee loan modification assistance or any other mortgage relief programs to try to avoid foreclosure through mortgage servicer, its agents, employees, affiliates or subsidiaries. Prior to the use of any documents you should consult an attorney.