How Does the Program Work?

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Regardless of whether you choose to stay in your home or walk away completely, we utilize the same procedures to start and complete the process. The following questions and answers will help you to understand further as to how we're able to offer this opportunity and the steps that are necessary to get started.
What happens when I send you my package?
1. You will receive a phone call and an e-mail from our Acquisition Department, acknowledging the date that the package gets logged in to our system. (Please allow up to 48 to 72 hours after your package lands for it to be posted to our system). Then you will be assigned a personal Acquisition Specialist. He or she will then call you as soon as possible to do a telephone interview. 2. Your Acquisition specialist will review the details of the file, and also make sure all of the information is accurate and that all your questions are answered before you proceed. Then we send the property to research. During this 3 day waiting period, we will be verifying information, reviewing photos, arranging for inspection, verifying title information, verifying ownership information, and a series of other proprietary research and review that we conduct in order to make sure that your property will fit our investment guidelines. A few business days later we determine our final Acceptance or Denial of the property. The whole process should take 10 working days, or 2 weeks including weekends. 3. If your property is accepted, we will complete the paperwork and your final closing documents will be sent. (Please allow 2 weeks for processing and mail time).  
What happens after you are finished ?
Our final goal is to purchase the first mortgage at a discount. By challenging a foreclosure lawsuit, and forcing the lender and foreclosure law firm to comply with the law, our aggressive loan challenges can make life miserable for foreclosure lawyers and the banks they represent. We employ many different legal tactics. Once a new property is purchased by our company, we do a full and detailed analysis of the mortgage by ordering the original loan documents. Depending on whom the lender is, and the type of loan, we look for errors or other violations, or predatory lending practices that may have taken place. Mortgage companies routinely broke the law and violated consumer protection during the mortgage boom. Some of the areas we look for include violations of TILA (Truth in Lending Act). Some loans may qualify for rescission; others may have violations that we leverage against the banks, even as we are making them an offer to purchase the note. HOEPA (Home Ownership and Equity Protection Act) is another area that we look at. This is a section within Regulation Z of TILA that contains stringent rules associated with refinance loans considered high cost. These high cost loans require an extra layer of disclosures that lenders often did not give the borrower. Our tactic may include lender disputes such as; Failure to provide a correct notice of the right to rescind, failure to produce the Note, failure to verify income or assets, predatory lending, a defective Mortgage or Note, insufficiency of process, lack of standing, failure to comply with pre-foreclosure requirements, servicing abuse, failure to establish conditions precedent. We also look for possible violations of RESPA, the Fair Debt Collection Practices Act (FDCPA), problems with the Mortgage Electronic Registration Systems, (MERS), and a myriad of other tactics all designed to give us tremendous leverage with the bank in negotiating the purchase of the first lien mortgage.
When can I move on or stay in the program?
Our acquisition process and Exclusive Lease Option is fast and is completed within 10 business days. How is this done so quickly when there is a mortgage in place? By purchasing the house “subject to” the underlying defaulted mortgages. This means, the defaulting mortgages technically remain in the sellers’ name, while our company holds equitable title until we complete our final acquisition of the note. Some sellers have a difficult time emotionally disconnecting from the sale of a home and can remain emotionally connected to a property, even after they have sold it to our company up front. However, we provide you the option to stayinorwalkaway to assure you that once the sale is complete, you can move on or stay in your home with the comfort that we are working with you on your behalf.. We will contact you if needed, and we also give you access to monitor the process thru our support status system. We start work immediately on the mortgages once we have possession of the property. If a seller is not comfortable with our process and the timelines, then we prefer you pass on the sale. The note acquisition process is an arduous process, and is not the right solution for everyone. The whole process typically takes 6-12 months to complete. In some cases we are able to finish sooner.
What is the completion time frame?
Most acquisitions are completed within 6-12 months. Some loans are more challenging to acquire than others, for a myriad of reasons. Once you sell your property to our firm, we begin our work in our Legal Department. As you can imagine, the note purchase process is complicated. Due to the volume of legal challenges that the banks are receiving, and the legally permitted response time, and attention to details, and time for banks to reply to our motions and inquiries, we are seeing the note purchase process take anywhere from 6-12 months. We cannot control the time line of events because each case is unique. Since we do not realize a profit until we are successful, we are just as anxious as the seller to finalize the note purchase.
Could it still go to foreclosure?
We want you to clearly understand the risk factors that is involved, and we share the foreclosure risk with you. We make a significant investment of time and money in each property we attempt buy. We don’t like to lose to the banks because it represents a significant financial loss to our company. Our profit motive, and the fact that we don’t profit unless we are successful is a good thing for you as the seller. If the loans are delinquent, the foreclosure process has most likely already begun at some level. At some point during our ownership, a formal foreclosure could be initiated by the bank, and a foreclosure sale date may be scheduled. If you receive documents regarding a future foreclosure sale date, be assured that we handle this sort of thing every day, and we routinely halt/postpone/cancel foreclosure proceedings as a matter of our daily activity. Although we are very successful, we cannot guarantee 100% success in all of our dealings. It’s important that you understand that the risk of foreclosure is an ongoing risk and that despite our best efforts we may not be successful in acquiring the note. We share the risk with you, as we are highly invested in each property that we own. Once we invest in a property, a foreclosure represents a significant financial loss for the company. Our legal staff closely monitors all of our properties, and the status of any foreclosure sales, and will intervene as necessary. You can be assured we have a very sophisticated tracking system which allows our staff to monitor all communications weekly, as well as routinely check on foreclosure proceedings and sale dates. Please remember: This is NOT an emergency foreclosure rescue service.
How can I find out what is happening?
Due to our workload, and our focus on daily operations, it is literally impossible to give each seller telephone updates on our properties. However we have a SUPPORT/STATUS system where you can log in see property information. You will be given access once the sale is complete. There is also a support ticket system where you can get real answers from a real person.
What if your company is not successful?
One of the most frequent questions that we are asked is “what happens if your company is not successful in acquiring the note?” Please note that we are not 100% successful with all our note acquisitions. There is always a chance that the lender may set a foreclosure sale date in, order to preserve their legal timeline, (even in the middle of our legal challenges). Be assured that we utilize every tactic and strategy possible to avoid this scenario, as any foreclosure results in a significant financial loss for our company. As a guarantee to you, the seller, we promise the following: If the bank sets a foreclosure at a future date, you will be contacted by our legal department and be notified. At that time, we will review the file and assess the ongoing risk vs. reward, and weigh all the options with you at that time. Bear in mind that a foreclosure sale being scheduled does not mean that we are not performing our work, nor does it mean the property will ultimately be foreclosed. We routinely stop and halt foreclosure sales in order to allow us time to complete the note purchase.

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