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Having Trouble Making Your Mortgage Payment?

 

Possible Solutions


There are two basic ways to help customers who are having financial difficulties and want to avoid foreclosure. One is to help customers retain homeownership with some kind of loan workout or bringing the loan current, while the second involves assisting borrowers with selling the property or transferring the title back to their lender. At Midwest First Financial, we give borrowers several choices, allowing them to determine which course of action to take.

 

Midwest First Financial is committed to helping customers keep their homes, if the customer has some means to make payments and is committed to working with us. Not all loan workout types may be available for every customer, but Midwest First Financials experienced Asset Manager will review your situation and offer solutions that work for you and Midwest First Financial.

 

Options that may be available to avoid foreclosure:

 

Keeping The Home

 

1)       Full reinstatement of account

 

2)       Forbearance if requirements are met

 

a.       Borrower must complete financial worksheet

b.      Allow access for an interior BPO

 

3)       Possible temporary interest rate freeze

 

a.       Borrower must complete financial worksheet

b.      Allow access for an interior BPO

 

Selling The House

 

1)       Deed in Lieu of foreclosure

 

a.       Borrower must complete financial worksheet

b.      Title must be clear of any liens

c.       Agreement that the borrower will convey the property vacant and free of personal property

d.      Itemization of keys, built in fixtures and equipment

e.       Borrower’s agreement to provide proof that certain utilities, assessments and HOA dues are paid in full at the transfer date

 

2)       Deed in Lieu of foreclosure in conjunction with lease option

 

a.       Borrower must complete financial worksheet

b.      Title must be clear of any liens

c.       Borrower’s agreement to provide proof that certain utilities, assessments and HOA dues are paid in full at the transfer date

d.      Itemization of keys, built in fixtures and equipment

e.      Physical inspection of property by property manager

To request a financial worksheet to complete, please contact an Asset Manager at (866) 240-7477.


Midwest First Financial, Inc. - 11904 Arbor Street, Suite 200 - Omaha, NE 68144

Telephone (402) 330-2274 Fax (402) 330-6416

Toll Free (866) 240-7477


Contact Midwest First Financial Mffi@mffi.com