By startingpoint March 11, 2014

Loan Modification


A loan modification program is designed to allow you to keep your home in the event of a financial hardship. In technical terms, a home loan modification makes permanent changes to the mortgage agreement. This can be a tougher option because you have to qualify. Starting Point Home Solutions can help you here, too!

Take immediate action, and contact Starting Point Home Solutions at (636) 573-1200 to begin the process today!

Deed In Lieu of Foreclosure


A deed in lieu of foreclosure is a legal document that shifts ownership from a borrower to the lender without having to go through the actual foreclosure process. This is an okay option under some circumstances as it will alleviate the immediate debt that the borrower is facing. Nevertheless, this should be considered only as the last resort for distressed homeowners! The real estate professionals at Starting Point Home Solutions understand Deed In Lieu of Foreclosure, and can determine if it is in your best interest to pursue.

Cash for Keys


In some situations your lender will give you cash at closing of a short sale. When a lender allows you to sell your home for what it is worth instead of what you owe. This is a strategic process we know well. This is a short sale.

A Short Sale: “A sale of real estate in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property, and the property owner cannot afford to repay the liens’ full amounts and where the lien holders agree to release their lien on the real estate and accept less than the amount owed on the debt.”

Forberance: “An agreement between lender and borrower that the borrower makes a payment plan in agreement with the lender to bring the unpaid mortgage payments to the current within a certain period of time. When a lender forecloses on a property it is expensive for them.”

Repayment Plan: “The bank restructures the existing loan. This is where the lender usually is when the lender adds the past due by land to the end of the loan and or raises the payment until the default amount is repaid.”

Contact Us to Learn What Options Are Available to you.