We take over properties and mortgage payments "Subject to the existing mortgage" aka we take over houses & payments...you move on.
If you are a Home Owner or Real Estate investor and are upside-down in your mortgage, can no longer handle the payments, just want out and even attempted do a short sale and it fell through or there were no valid offers, turned down for a loan modification, the bank won't accept the deed and foreclosure defense lawyers are just offering to just buy you more time and as a homeowner or investor, maybe you're just not interested in buying more time in the property.
Perhaps you're thinking of doing what some do and let the bank or lender foreclose, but you don't want the bank going after your other assets, ruining your credit, garnishing wages or tapping bank accounts, do you?
If you are "losing your shirt" and the kids are near starving, you have to make a decision- keep paying or not? What is your credit score really worth?
We will never suggest that you do not pay your bills but, let's face it, does it really make sense to go bankrupt "supporting" a losing investment - whether it be a house or a lot of dirt?
It is hard to believe that people will blindly use up their savings or retirement money or the kid's college tuition fund to further compound an already bad situation. This is much more than advising one to not "throw good money after bad".
Its time again to start taking control of your life. You've already lost the investment money and the house. The parcel of land/ house/ condo already has lost its value.
We find that many owners are prepared to take the credit hit, if necessary, but they just don't want any other personal exposure.
Many homeowners just want to return the deed to the bank or lender (deed in lieu) but most lenders won't do it if there is a second mortgage or the property is "upside down or underwater" and if they do accept the deed the consequences are the same as foreclosure. And who wants the lender chasing them with a deficiency judgment (which they will most certainly do) for which the borrower may be personally liable for up to 20 years?
The alternative? Our Mortgage Relief Program. Call us! Most likely your property will qualify for our program, 602-753-7828. Don't let things happen to you...make them happen for you.