Foreclosure Bailout Loans                                                   APPLY HERE >>
Frequently Asked Questions

Q: What is a Foreclosure Bailout?
A: A Foreclosure Bailout is a Loan dedicated to paying off your current lender to stop foreclosure. The entire balance owed to your lender (including balance, back payments, and fees) is paid by a NEW lender. The original lender is paid in full and your foreclosure stops.

Q: Why would I want to do this?
A: If your lender is hard to work with, or won't accept any of your options, you may want to find a new lender to work with.

Q: How is a Foreclosure Bailout Done?
A: Equity is taken from your home through a 'Foreclosure Bailout' refinance Loan and used to pay off your old lender.

Q: Do I qualify?
A: You must have enough equity in your home as Foreclosure Bailout loans range from 60-75% of Market Value. Example. If your home is worth $400,000, and the entire balance owed to your original lender plus fees on the new loan is $240,000 - $300,000 you may qualify for this type of program.

Q: Is there anything I should be concerned about?
A: Your new loan rate may be higher than it currently is now. You need to be able to make the payments. Make sure that your finances are back on track, or soon to be. While repaying the new loan, work on your credit. You may be able to refinance again back into a better rate. Without a foreclosure on your record, it will be easier to qualify for a loan at a later date.

Q: Can I take some cash out to pay other bills and make sure I have a few months payments as a precaution?
A: In Most cases, yes, you will be allowed to take cash out from the equity of your home. The new loan amount, plus cash at close must stay within the required 60-75% of market value.

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