Who you can trust to get you out of Foreclosure.

If you search the internet, you can find hundreds of companies that claim to stop foreclosure, be loss mitigation experts, have 'secret' information, and several other catchy phrases to get you on board with their company.

Stop foreclosure is an unethical phrase to throw out to homeowners who are facing the lose of their home. If you see that phrase spammed across the top of a page of their website, I would continue your search. This does not go to say that some companies don't have the ability to help you to stop the foreclosure of your home by putting a loss mitigation plan in place. However, what we continually see are companies marketing their 'guarantee' to stop foreclosures. What most people fail to realize is that there are only a few instances where the foreclosure is actually stopped. If a repayment plan, forbearance plan, or a Bankruptcy is filed, the foreclosure is placed on hold. It is placed there pending the resolution of the above referenced plan. A foreclosure is stopped when a partial claim, or a loan modification is awarded. All of these options are offered by multiple mitigation firms nationwide, but I would not trust someone who guarantees they can 'stop' the foreclosure on the first call you make to their company.

Second, we have the companies that claim to be loss mitigation experts. There are four kinds of companies for loss mitigation:

Companies that purchased books, and paid for information to learn loss mitigation.

Companies that outsource their mitigation to another company and really only sell the idea.

Companies that take your money, and run.

Companies that are actually legitimate, have representatives that have hands on, real life experience in saving homes, and really care about the people they help.

The best advice is to shop around. Price can be one aspect, however the most important aspects to look for in a loss mitigation expert is trust, confidence, and experience. Ask to speak with their loss mitigation department, and talk to the representatives directly. See if you can develop a relationship with the person you would like to help save your home.

The next thing you will hear of is a 'secret' that no one else knows of. There is no secret. Mitigation requires persistence, time, knowledge of the field, and a great ability to negotiate. This is why you will find it is best to hire a professional loss mitigation firm to work on your behalf.

More info on your stop foreclosure information search:

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