Hill Mortgage Consulting provides full service loss mitigation consulting for residential and commercial property owners throughout the Southeastern United States.
We consult with borrowers in trouble, to plan and implement the best strategy to solve their mortgage problems.
Our goal and focus is simple. Implement a strategy that relieves the borrower of the deficiency under the Note. We don't charge hourly rates, we don't collect commissions on a sale. We only charge a client a fee based on the amount of debt forgiven by the lender.
If we don't reach a resolution that relieves the borrower of the debt, we don't charge a penny..... its that simple!
This may include one of the following strategies:
Loan Modification: A new mortgage rate, time frame, or other terms and conditions are modified on an existing loan. In today's environment a loan modification that does not include a principle reset to within 15% of current market value is ineffective in the long run and a borrower will likely re-default.
Lien Modification: The mortgage lender modifies the existing loan, making it possible for the borrower to qualify for refinance with a different lender.
Short Sale: The mortgage lender allows the house to be sold at a price lower than the mortgage owed, but this does NOT guarantee a release from the debt (NOTE). This is used as a last option to avoid foreclosure when other options are not available. Please be careful when considering this option, and make sure a qualified attorney reviews any settlement agreement prior to your acceptance. (This is a requirement of our company)
Deed in Lieu of Foreclosure: When a property in saleable condition has been on the market for at least 30 days without selling, the bank may accept the deed to the property in lieu of foreclosure and "potentially" forgive the balance of the debt. Please be careful when considering this option, and make sure a qualified attorney reviews any settlement agreement prior to your acceptance. (This is a requirement of our company)
Uncontested foreclosure: The first lien holder proceeds with a foreclosure action. This action is uncontested by the borrowers counsel. This process is effective when there are other liens on the property that won't let the property transfer with clear title in a short sale or deed in lieu. By not contesting the foreclosure the first lien holder must agree to waive deficiency on the Note.