Frequently Asked Questions

1. How much will this cost me?

We understand how tough it is to recover from financial hardships. That is why all of our services are absolutely free! There are no hidden costs or fees, we provide a complimentary service for all of our clients.

2. How long will this take?

We know how valuable your time is. That is why we have designed our system to ask only the questions that are necessary to evaluate your individual financial situation. Our easy process takes less then 5 minutes for most of our clients to complete. We provide all of your state specific information where the property is located by clicking on our “How long do I have” button on our home page.

3. How much time do I have before my house is sold?

Every State has different laws and regulations regarding the foreclosure period. We provide direct links via the web to the State in which you reside. There you can learn exactly how long the process takes from start to finish.

4. How does the analyzer determine which options I have?

The Homeowner Qustionaire is specifically designed to get you the help you need and learn about all of your options and rights as a homeowner facing foreclosure. The questionnaire is powered by a complex analysis engine to determine what all your rights and options are. One of our team of experts will guide you through each option when you are ready so you can feel comfortable that whatever decision you make is the best one for you and your family.

5. Why can’t I talk to someone at your company?

By clicking on the Solution Provider button on our home page and quickly running through our simple process we are able to save you precious time by getting you to the right person immediately. By saving time and resources we are able to help many more of the millions of Americans that desperately want help now. Once you have taken the first step one of our experts will jump in with you and guide you through the process step by step. Please help us help you by taking the first step now. Thank you for your understanding and all of us here at Homeland Assistance are looking forward to helping you today.

6. Can you help me if my house is already for sale?

Yes we are still able to assist you if your home is already listed for sale. We help to work in conjunction with any other professionals attempting to assist you with the foreclosure.

7. What is a Hard Money Loan?

Also known as Private Equity Loans are loans that are offered to homeowners in foreclosure, bankruptcy, or with credit problems that cannot qualify for traditional financing. The loans are usually privately funded and have high loan fees and interest rates.

8. What is a Deed In Lieu of Foreclosure?

It is offered by the bank to avoid continuing or commencing the foreclosure proceedings. The homeowner grant deeds their ownership in the house to the bank; in return the bank does not conduct the foreclosure proceedings

9. What is a Short Sale?

It is the sale of real property at a price which is less then the balance of the mortgage on the loan(s) of record.

10. What is a Loan/ Note Modification?

Any changes made to the erms and conditions of repayment to the original note secured by a deed of trust.

11. What is an Acceleration Clause?

It is a legal clause contained within the mortgage note and trust deed that allows the bank or lender to declare the entire unpaid balance due immediately when certain conditions occur.

12. What is a Deed of Trust?

The document by which legal title is transferred from a trustor, or borrower, under a deed of trust, to a trustee, the person or corporation designated to hold that title as security for the loan.

13. What is a Deficiency Judgement?

The document by which legal title is transferred from a trustor, or borrower, under a deed of trust, to a trustee, the person or corporation designated to hold that title as security for the loan.

14. What is a Due on Sale Clause?

The document by which legal title is transferred from a trustor, or borrower, under a deed of trust, to a trustee, the person or corporation designated to hold that title as security for the loan.

15. How do I Determine Equity in my House?

The market value of real property minus the total amount of all the mortgages and existing liens. Liens include but are not limited to; Property Taxes, Personal Liens, Tax Liens, etc.

16. What is a Forbearance?

Forbearance is an agreement made between the bank and the owner to repay the delinquent amount owed over a period of time. The forbearance agreement does not stop the foreclosure proceedings; it simply freezes them until the agreement has been completed.

17. What is a Foreclosure?

The legal procedure used by lenders when the borrower has defaulted on the original contract with the lender (such as failure to pay property taxes, failure to make payment, etc.)

18. What is a Hardship Letter?

It is a letter written by the owner of the house to the bank detailing the financial hardship and details leading to the hardship. It is required when requesting a short pay or Loan Modification from the bank.

19. What is a Lis Pendens?

It is a recorded notice of an existing lawsuit against the subject property.

20. What is the Loss Mitigation Department?

A department of the mortgage bank that is responsible for recovering funds from a delinquent or defaulted account. They are in charge of mitigating the loss that may result from the defaulted loan.

21. What is a Notice of Default?

It is a document that is recorded and delivered to the borrower when default has occurred under a deed of trust. This initiates the foreclosure process, and the information is now public knowledge.

22. What is a Notice of Trustee Sale?

It is a document that is recorded at the county notifying the general public of the trustee’s intent to auction the home at a public auction.

23. What is A Preliminary Title Report?

A report issued by a title company that shows the present condition of title prior to the issuance of a title policy. This report contains a list of the legal vesting of the property, all liens that are attached to the house as well as the amount of the county property taxes.

24. What is a Prepayment Penalty?

The charge payable to a lender if the borrower pays off the outstanding principal balance of the loan prior to its due date.

25. What is an R.E.O.?

Also known as “Real Estate Owned’ is Real Estate that the beneficiary is given title to via a Trustee’s Deed. If no bidders purchase the house at a foreclosure sale, the property becomes an REO.

26. What is a Seller Lease Back?

A transaction in which the owners of home sellers the house to a third party, and then agrees to lease back the same property over a predetermined amount of time. The original owner is given the right to buy the property back once the lease period has expired.

27. Can you help me if my house is up for auction/ and they have already scheduled a sale date?

Yes we can help customers even after the house has been sold in some cases. The important thing to remember is that we are experts I this field and have a wealth of knowledge and resources to help you.