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john lincourt (Loan Modification Specialist) Real Estate Sales Representative

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300

john lincourt
location_on Cumberland, RI — Loan Modification Specialist
Get to Know john lincourt

Available Nationwide

  Are you up at night, worrying because your adjustable rate mortgage is going to reset and you can't afford the new payment? Maybe you owe more than your house is worth? Or you're unable to get a new loan because your credit is bad? Maybe you're 30 days late on your mortgage. 60 Or perhaps foreclosures proceedings have already begun!

You Don't Have to Lose Your Home

Loan Modification can help you, like we've helped thousands of others in similar - or even worse - circumstances. Our company specializes in helping people find alternatives to foreclosure and the loss of their home. Our objective is to make sure that you realize no matter how bad your situation might be, foreclosure may be avoided if you take prompt action. Together, we may be able to resolve your delinquency without a foreclosure sale of your home. We have the skill and expertise to give you the greatest chance at getting the results you need.

How Does It Work?

Loan Modification Specialists will sit down with you and review the alternatives available to allow you to keep your home. The key to avoiding foreclosure is you! Through open communication with our loss mitigation specialists, we can try to help you cure your

mortgage default without foreclosure.

 In general, there are four options available to a homeowner in distress:

  1) Forbearance/Formal Forbearance: A Forbearance Plan is a repayment agreement between you and your lender. We will review documentation supporting your monthly income and expenses. We will develop a plan and place a proposal in writing providing for payment of one full monthly payment and a portion of the delinquent amount due on your account. The objective of the plan is to allow you to cure your default over a period of time, reinstating your mortgage, while allowing you to maintain your normal monthly living expenses.

  2) Modification: In certain circumstances, an investor may allow us to add the delinquent amount to your loan balance or temporarily reduce the interest rate as well as your principal amount to assist you in curing the default and restoring your credit status.

3) Short Sale/Pre-Foreclosure Sale: Loan Modification frequently works with homeowners who due to a change in employment or other life event(s), can no longer afford their home. The decision to sell your home under these circumstances is difficult; in addition, fluctuation in real estate markets may leave you in a situation where you have little or no equity - or even a loss upon the sale of your home.

A short-sale occurs when you owe more than your home is worth. Loan Modification may -- with permission from the investor -- assist in the sale of your home under these circumstances in which the investor (mortgage holder) agrees to accept net sales proceeds as full payoff. Investor approval is based upon your financial situation and the current market value of your home.

4) Deed in Lieu of Foreclosure: In the event you have decided you can no longer afford your home and do not want to go through marketing efforts or foreclosure, you may voluntarily return the property to the investor. National Loan Modification would need to verify all lien-holders on the property and we would need a walk-through inspection of the property.

What We Bring To The Table

We bring our vast experience and expertise to provide you a real solution to a challenging and stressful situation.

The following services will be provided by us. We will structure the following:

•q     Adjustment, Elimination Or Repayment Plans On Any Delinquent Balances;

 q     Loan Balance Amount To Be Less Than Current Loan;

 •q     Loan To Be Converted To A Longer Fixed Term;

 •q     Reduction Of Current And Future Rate Of Interest Charge And Monthly Payments;  

•q     Current Status On Credit Report To All Three (3) Agencies.

What Foreclosure Means To You

Many people believe - wrongly - that once foreclosure begins, all hope of remaining in the home is gone. Nothing could be further from the truth. On the following page, you will find a chart which lays out the typical time-frame for the foreclosure process. IT IS STILL POSSIBLE TO SAVE YOUR HOME AT ANY POINT THROUGHOUT THE FORECLOSURE PROCEEDINGS.

Please don't panic just because you have received a Notice of Default - plenty of options remain. The critical factor in determining whether or not you will be able to save your home is to act quickly - before it really is too late to do anything.

What If Foreclosure Hasn't Started Yet?

If your mortgage payments have become difficult, even if you're not yet late or in foreclosure, then it is time to act. If you are suffering a hardship due to loss of employment, death of a relative, reduction of income, illness or any other unexpected event, we want to find a way to help you - whatever your situation - and if we can make an adjustment to your mortgage before late payments, notice of defaults, and the like, then it is better for all parties concerned.

So, How Do I Start?

In order to best help you find a solution and the best possible alternative for your situation, we need to carefully review your financial circumstances. Please submit the following information to us:

Documents included in Modification Forms and provided by us:

•q     Hardship Letter - This form allows you to explain in detail the reason behind your financial situation. In addition to filling out this form you will need to provide any and all proof of your hardship claim if there are special circumstances beyond your loan recasting (rate increasing), such as medical bills, death certificate, unemployment stubs, divorce decree, etc. If there is more than one borrower each person needs to complete a separate form. See "Hardship Letter."

  •q     Financial Worksheet - Information for both the borrower and co-borrower must be included and filled out completely. See "Financial Worksheet." Send borrower's authorization to release information.

  •q     Authorization To Release Credit Information - Credit verification

  •q     Modification Authorization Form - Authorization to communicate on your behalf with your lender.

  •q     Residential Loan Modification Agreement - Authorization to communicate on your behalf with your lender.

  •q     Loan Mitigation/Modification & Presentation Fee Agreement - Authorization to communicate on your behalf with your lender.

  •q     Modification Payment Form - Use for payment by fax or credit card

 Additional documents to be provided by you:

  •q     Copies Of Most Recent Payroll Stubs - Please provide copies of pay stubs for the past 2 months for both the borrower and co-borrower. If you do not have this please provide what you can.

  •q     (If Self Employed) Copies Of Federal Income Tax Returns - Provide copies of original signed and dated tax returns, including all schedules, for the 2 most recent tax years for both borrowers.

 •q     Copies Of Most Recent Bank Statements - Please provide copies of the last 3 months bank statements for all accounts, please provide ALL pages. If you need help obtaining your statements either online or by phone see your representative for help.

 •q     Copies Of Household Bills - Please provide copies of any and all household bills such as, Utility bills (electric, gas, water etc.) Insurance bills (car, home, health, etc.), child care, any other outstanding liabilities are being paid for.

  •q     Listing Agreement - If applicable

  •q     HUD-1 Or Net Agreement - If applicable

  Additional information and documentation may be required. Please keep in mind that this letter does not constitute a commitment or approval for assistance. Normal collection proceedings up to and including foreclosure, will continue during the reviewing process. Therefore, we recommend that you provide Loan Modification Rep. with the required financial information as soon as possible so that we can quickly assess your options for avoiding foreclosure as well as for modifying your current loan.

Once we have had a chance to review the provided information, then we will sit down with you (in person or telephonically - depending on proximity) so that we can discuss how best to proceed.

In order to assist you in gathering the necessary information, as well as expediting the process, we have enclosed a number of forms with space for required information. We have also included authorization forms so that we may begin to work on your case. Please fill these out completely and return them to us as quickly as possible. If you have

any questions, please do not hesitate to get in contact with us.

John.financialfreedom@yahoo.com

 

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