Financial Services
Loan Modification
When you are facing financial distress and want to keep your house, we can negotiate with your lender to adjust the rate on your existing mortgage. Loan restructuring is when we negotiate with your lender to change the rate of your existing loan. We coordinate the entire process as we negotiate with your lender to secure a restructured rate approval from your lender.
Loss Mitigation Services
If you are facing foreclosure and want to keep your house, let the professionals at DREC Financial Services negotiate on your behalf to achieve the best possible solution with your lender, with your best interest in mind. We specialize in all aspects of Loss Mitigation. We have hundreds of satisfied clients and would like the opportunity to help you in time of need.
Restructuring Adjustable Rate Loans
Adjustable rate are rolled into new fixed rate plans, loan terms (maturity date) can be extended which will generally reduce the mortgage payment. The unpaid principal balance, delinquent interest, attorney fees and other fees are combined and re-amortized over the extended term. The term can not extend longer than the mortgage was originally written. A 30-year mortgage will not normally extend more than 30 years from the date of the modification.
RESPA Audit & Forensic Loan Document Review
We can review your loan and HUD statement for any errors. There may be some remedy that we can take that will benefit you.
Credit Card Settlement
Debt Settlement is the easiest way to settle unsecured debt without having to file for a bankruptcy. DREC will negotiate with creditors on behalf of the client to settle for reduced monthly payments, interest rates and balances. Creditors are willing to settle for a portion of debt owed if the debtor’s financial hardship is proven, rather then having a bankruptcy filed.
Short Sale
When you are facing foreclosure and no longer want to keep your home, we can negotiate a short sale with your lender. We will work with your Lender to show that you are unable to afford the mortgage payment and request permission to proceed with the Short Sale. Once the lender approves the short sale an appraisal or BPO is performed to determine the fair market value. With our National Real Estate Network we have agents all across the United States that specialize in listing, marketing and selling Short Sales. DREC will coordinate the entire process and negotiate with your lender once an offer is received from a new buyer to secure a Short Sale Payoff approval.