subject: Nationstar Mortgage - Get Assistance To Avoid The Foreclosure Process [print this page] Foreclosure is a legal process in which the lender tries to recover the balance of the loan from a borrower who has fallen behind on payments. This process is usually initiated by the mortgage holder at a time specified in the mortgage documents, typically after a certain period of time when the default occurs. If you are a homeowner on the verge of foreclosure, Nationstar Mortgage can help. The company has been in the industry for many years and has earned a reputation for assisting homeowners who may be struggling with their monthly mortgage payments. Nationstar Mortgage offers several ways to help homeowners bring their mortgage current and avoid the foreclosure process.
These options include forbearance, repayment plans, modifications, deeds-in-lieu and short sales. Forbearance reduces the payment until you are able to bring the mortgage current. This program may help give you time to improve your financial situation without the fear of losing your home. It is usually considered a good choice for temporary situations. The repayment plan includes distributing the delinquent payments over a specific period of time to bring the mortgage current. In other words, you will need to pay an additional portion of the past due amount along with the normal monthly payment. This option through Nationstar Mortgage may help you get your mortgage current and potentially lessen adverse impacts to your credit .
When it comes to Nationstar Mortgage, their loan modifications work to keep you in your home with loan terms that suit your current financial needs. By opting for this program, you may have the option to modify the terms of a current loan and add the past due amount to the unpaid principal balance. The short sale option with Nationstar Mortgage may help you avoid the foreclosure process by allowing you to market and sell your home to pay off the mortgage. This may also minimize the effects on your credit record. In the event you fail to sell your home at fair value, you may choose to transfer the property back to Nationstar. This option, known as deed-in-lieu, is another method to avoid foreclosure.
For more information, please visit www.nationstarmtg.com
