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Forbearance is another way to help homeowners. It is a
negotiation between the bank that holds a mortgage that is
behind in payments and the homeowner or a third party, such
as an investor. Someone who will ask a lot of questions to
come up with a solution favorable to the bank and the
homeowner that will keep the homeowner in the house, on the
deed, and able to start making payments at a new rate the
homeowner can afford. It is only a solution if all parties
are happy. It is critical for an investor like Practical
Housing Solutions to know the financial situation of the
homeowner to make a deal like this successful.
The cost is just $1000 for this negotiation at many servicing
companies. PHS charges $0 for this service.
There is
a pre-qualification that the homeowner must go through
to determine if a forbearance will work for them in the first place.
The homeowner should always be “pre-qualified” first
before paying any money to a negotiator to determine
if the process will work for them.
We can help and at no charge to you.
Call us now! 513-604-7774
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