Options to Avoid Foreclosure

In some cases, Herzer Financial Services may be able to help you when facing a pending foreclosure. Below is a list of several loan options for qualified borrowers that help you avoid foreclosure.

  • Refinance
  • Forbearance
  • Loan modification
  • Deed-in-Lieu of Foreclosure

Questions Regarding Delinquent Accounts

As a homeowner, you may be facing a financial situation where it is difficult to pay the monthly obligations on your real estate mortgage.
There are options which may be available to you through your lender or their servicing agent. Although it would be advisable to attempt to utilize one of these options prior to the filing of a Notice of Default (foreclosure), it may be possible to utilize an option after the notice has been filed.
The options which may be considered by your lender/servicing agent are:

  • Sell the property
  • Borrower could work a second job
  • Short Sale
  • Forbearance Agreement
  • Interest Deferral
  • Reduction of Interest Rate
  • Deed in Lieu of Foreclosure
  • Surrender of Property
  • Refinance
  • Loan modification

If you have a loan which Herzer Financial Services, Inc. is servicing and if any of these options seem viable, please contact us at 877-363-8003.

Additionally, the toll-free number made available by the United States Department of Housing and Urban Development (HUD) to find a HUD-certified housing counseling agency is 1-800-569-4287 or TTY/TDD 1-800-877-8339.You may find other useful consumer information on foreclosure alternatives on the HUD website at http://www.hud.gov/foreclosure including an article on “Tips for Avoiding Foreclosure”.

Herzer Financial Services, Inc. does not offer a proprietary forbearance or modification plan. Due to the fact that all loans serviced by Herzer Financial Services, Inc. are privately funded, loans at Herzer Financial Services, Inc. are not potentially eligible for any federal, state or lender guideline foreclosure prevention alternative program. Should a borrower request a forbearance or modification, it would be subject to majority lender approval.

Real Estate Broker — California Dept. of Real Estate License #00417082

Loans are made or arranged pursuant to a California Finance Lender’s License #6054500

Nationwide Mortgage Licensing System #314253

Also, there is no agreement regarding any option to avoid foreclosure until it is put in writing and signed by you (the borrower) and the lender. All foreclosure prevention alternatives are subject to conditions and lender approval.

We’re here to help. To find out more about these options, please contact us today.