How to take over a mortgage
No Choice But To Foreclose or Walk Away?
Mortgage payment to high? Foreclosure imminent? Can’t get a loan modification or principle reduction? Loss of income? Short Sale no go? Owe too much on house to sell? Had rental nightmares or tenants from hell and got stuck for rent or repairs? Bankruptcy is not an alternative or just don’t have the money to file anyway? Afraid the lender or bank will come after you if you walk away or foreclose? (they can garnish whatever wages you have left or bank accounts too)
Want to try to salvage whatever credit you do have left to purchase at a good price while you can or when the market stabilizes or perhaps even rent later?
Is your credit score already shot so you don’t care if you foreclose but don’t want the bank to get the house? They’ve already gotten your hard earned money and they get to keep the house too? Hold on.
We’ve got an alternative to walking away and voluntarily foreclosing. In almost every case we can successfully take over the property and payments. We can do this in different ways depending on the amount of the mortgage and current default situation.
We’ll even draft the paper work for you and record the transfer at the County Recorders office as part of our service for a one time fee of only $50 to $500 depending on the documents.
Why? Because it costs us to draft the paperwork and record at the County Recorders office. There are no other fees involved in us taking over the property and mortgage payments.
If you prefer to have a Title company record and witness the transfer you have that option too. You just pay the title company fees (much more).
You say how do we do this?
Simple. We know how to make a so-called non assumable property assumable. If someone (realtor, mortgage broker, title co. attorney, etc) has told you that this can’t be done it’s not that they are right or wrong, but they just don’t know how or may not want you to know (the bank!)
Commercial properties are done this way many times to stop foreclosures and bank seizures. So if you have pretty much considered walking away from the property and letting the bank take the house after they’ve gotten payments from you because you did not know there was another alternative and you have tried or considered all the other alternatives already (short sale, loan modification, principle reduction, selling the house, renting, bankruptcy, walking away and foreclosing).
Here is the last alternative to all the above. Call us. We’ll discuss it over the phone. If you feel comfortable with our solution of taking over the property then we can start the process immediately.
Of course if you feel more comfortable with letting the bank take the house and foreclose on you after they’ve taken payments from you and having it both ways (wow) it is your choice. But remember you have another choice too.
Just so you know, we at Underwater Loan Relief are private Real Estate Investors but we just think out of the box!
We can be reached at (877) 842-3909. Just leave us a message with contact information and we will get back to you. We get many calls from homeowners wanting to do this and sometimes the phones may be busy so please be patient. We hope to talk to you soon!
Underwater Loan Relief (877) 842-3909 Fax & toll free
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