Find Out If You Are Eligible For A Loan Modification?
Introducing the REST Report.
UNTIL NOW, only a lender or servicer could tell you whether it is in the financial best interest of your investor to modify your loan. Now YOU can know this before you apply.Call Us Today!
888-976-4243
Eligibility
Purchase
Mortgage servicers work under a contract known as Pooling and Servicing Agreements (PSAs) which require the servicer to make decisions in the best interest of the investors who own the loans. The REST loan disposition analysis system runs proprietary algorithms, NPV analytics, accesses numerous property valuation databases, and produces a Report that shows your lender or servicer the best financial outcome for the investor. This could be a modification under the government’s HAMP program or conventional in house modification program, or it could be that you don’t qualify for a modification at all.
The U.S. Treasury Department’s most recent HAMP NPV Model (V 3.1) is currently only available to participating HAMP servicers. For this reason the model used by the REST Report, has certain variations. Although the REST Report is a proprietary model, based on HAMP NPV Model (v3.0), the input provided by the borrower, and a series of property valuations, the loan modification terms proposed in the REST Report, should fall within the allowable tolerances of the HAMP eligibility guidelines.
Your REST Report will tell you whether it is in your lender’s financial interest to modify your loan by calculating the Net Present Value of a modification as compared to other foreclosure options. You will then be able to make a more informed decision about the best course of action for you and your family.
1) The U.S. Treasury Department’s most recent HAMP NPV (Net Present Value) Model (v 3.1) is currently only available to participating HAMP servicers. For this reason the model used by the REST Report has certain variations. Based on the input provided by the borrower, the terms proposed in the REST Report will fall within the allowable tolerances of the HAMP eligibility guidelines.
2) If your lender or servicer should deny your HAMP Program, you will be armed with the facts that will provide a basis for appealing that decision.
3) If the report shows you don’t qualify for HAMP, you won’t waste money or time chasing a loan workout for which you won’t be approved, but that doesn’t mean you won’t get your loan workout. If your lender or servicer offers an in-house program, you can still use the Rest Report to apply for the program that fits your qualifications.
4) In some cases, borrowers have decided that a modification is not the best option, and have decided to short sell, or sign a deed in lieu of foreclosure. The REST Report gives a detailed NPV analysis of your situation related to a Short Sale.
5) If your state offers a foreclosure mediation process, the REST Report is a powerful tool when used by you or your attorney to present your case to the state’s assigned mediator.
6) Your REST Report will tell you whether it is in your lender’s financial interest to modify your loan by calculating the Net Present Value of a modification.
A) First our trained specialists enter information about you and your mortgage into the REST loan disposition software platform. We make it easy by emailing you a checklist of what you need to have handy when you call, and your report will be emailed to you within a few hours.
B) The REST Report shows whether you qualify for HAMP, and what the terms of that loan modification under HAMP will look like. But that’s not all. Should you not qualify for HAMP, the REST Report will show you why you don’t qualify. And will show you other alternatives to help in your decision making.
C) The report also qualifies homeowners for HAFA Short Sales, and shows the NPV, or Net Present Value, or other foreclosure alternatives, such as a Flex Mod, an interest only alternative, along with other options.
D) With the REST Report, if you do qualify for HAMP, now you’ll know for sure. But just because you don’t qualify for a modification under the government’s HAMP program, does not necessarily mean that you can’t get your loan workout. Many lenders and servicers have in-house modification programs for which you may qualify.
E) Once you receive your report, one of our trained REST Report Specialists will review what the report shows, so you’ll know what it says and how to use it. Once armed with the REST Report and the knowledge of your options that comes along with it, you can start making smarter decisions right away. Why would anyone want to go through the modification process without it?
There’s only one REST Report.
Homeowners use the Report by sending it to their bank, along with supporting documentation required when applying for a loan modification. The Report is valid for 90 days from the date it is generated.
Call Us Today!
888-976-4243
F. A. Q.'s
Purchase
Download Sample Report
1) The U.S. Treasury Department’s most recent HAMP NPV (Net Present Value) Model (v 3.1) is currently only available to participating HAMP servicers. For this reason the model used by the REST Report has certain variations. Based on the input provided by the borrower, the terms proposed in the REST Report will fall within the allowable tolerances of the HAMP eligibility guidelines.
2) If your lender or servicer should deny your HAMP Program, you will be armed with the facts that will provide a basis for appealing that decision.
3) If the report shows you don’t qualify for HAMP, you won’t waste money or time chasing a loan workout for which you won’t be approved, but that doesn’t mean you won’t get your loan workout. If your lender or servicer offers an in-house program, you can still use the Rest Report to apply for the program that fits your qualifications.
4) In some cases, borrowers have decided that a modification is not the best option, and have decided to short sell, or sign a deed in lieu of foreclosure. The REST Report gives a detailed NPV analysis of your situation related to a Short Sale.
5) If your state offers a foreclosure mediation process, the REST Report is a powerful tool when used by you or your attorney to present your case to the state’s assigned mediator.
6) Your REST Report will tell you whether it is in your lender’s financial interest to modify your loan by calculating the Net Present Value of a modification.
A) First our trained specialists enter information about you and your mortgage into the REST loan disposition software platform. We make it easy by emailing you a checklist of what you need to have handy when you call, and your report will be emailed to you within a few hours.
B) The REST Report shows whether you qualify for HAMP, and what the terms of that loan modification under HAMP will look like. But that’s not all. Should you not qualify for HAMP, the REST Report will show you why you don’t qualify. And will show you other alternatives to help in your decision making.
C) The report also qualifies homeowners for HAFA Short Sales, and shows the NPV, or Net Present Value, or other foreclosure alternatives, such as a Flex Mod, an interest only alternative, along with other options.
D) With the REST Report, if you do qualify for HAMP, now you’ll know for sure. But just because you don’t qualify for a modification under the government’s HAMP program, does not necessarily mean that you can’t get your loan workout. Many lenders and servicers have in-house modification programs for which you may qualify.
E) Once you receive your report, one of our trained REST Report Specialists will review what the report shows, so you’ll know what it says and how to use it. Once armed with the REST Report and the knowledge of your options that comes along with it, you can start making smarter decisions right away. Why would anyone want to go through the modification process without it?
Tools & Calculators
Find helpful tools and calculators to assist you in understanding and preparing your HAMP loan modification package. Visit often as we update frequently.use tools
Forms & Worksheets
Get forms and worksheets to assist you in the understanding and preparation of your HAMP loan modification package or HAFA short sale package.get forms
Advising & Counseling
Find help in your area through various advisors and counselors that understand the loan modification process and your options. Register to be informed on updates.find help
News & Information
Read Mortgage Aid News and Radio to get your daily scoop on news and information that may directly affect you and your future. Special columns by industry leaders.read more
Image and text is reproduced from makinghomeaffordable.gov
Making Home Affordable
HAMP and HAFA
The Obama Administration’s Making Home Affordable Program includes opportunities to modify or refinance your mortgage to make your monthly payments more affordable. It also includes the Home Affordable Foreclosure Alternatives Program for homeowners who are interested in a short sale or deed-in-lieu of foreclosure.
Call Us Today!
888-976-4243
Apply for HAMP
Apply for HAFA
Learn More Now
Mortgage servicers work under a contract known as Pooling and Servicing Agreements (PSAs) which require the servicer to make decisions in the best interest of the investors who own the loans. The REST loan disposition analysis system runs proprietary algorithms, NPV analytics, accesses numerous property valuation databases, and produces a Report that shows your lender or servicer the best financial outcome for the investor. This could be a modification under the government’s HAMP program or conventional in house modification program, or it could be that you don’t qualify for a modification at all.
The U.S. Treasury Department’s most recent HAMP NPV Model (V 3.1) is currently only available to participating HAMP servicers. For this reason the model used by the REST Report, has certain variations. Although the REST Report is a proprietary model, based on HAMP NPV Model (v3.0), the input provided by the borrower, and a series of property valuations, the loan modification terms proposed in the REST Report, should fall within the allowable tolerances of the HAMP eligibility guidelines.
Your REST Report will tell you whether it is in your lender’s financial interest to modify your loan by calculating the Net Present Value of a modification as compared to other foreclosure options. You will then be able to make a more informed decision about the best course of action for you and your family.
