Executive Private Investment Funding Co., LLC

Foreclosure Alternatives

It is a shocking fact that every day in the United States there are over 1,000 homes, commercial properties, and/or land parcels that go up for auction resulting from a foreclosure procedure. And even more shocking is the fact that NONE of the properties defined ever needed to go through the foreclosure process!

Select the [ Funding ] Tab to Register and Apply for Special Fast Cash Funding

A foreclosure process on real property is commenced by a lender who has a secured interest in a property wherein the debtor of such mortgage instrument has defaulted on its obligation to the lender. Most mortgages in the United States are in the form of a Promissory Note evidenced by a Deed of Trust recorded against the securing property. There are other forms of mortgages (e.g., Land Contracts, Agreements for Sale, and other unique forms); however, we will focus on the primary mortgage instrument in the U.S.: a Deed of Trust.

There are several ways a debtor can become in default of its mortgage obligation to the lender (beneficiary). The fact is, however, that, generally speaking, only the failure of the Payor to make monthly payments will be the ultimate cause of the lender initiating a notice of default and foreclosure procedure. While a lender can initiate such a procedure after only one month of the note being in default, most lenders will (as a matter of practice or system) not initiate a foreclosure procedure until the debtor is 3-5 [or more] months in arrears. This practice does not serve the debtor. This is because a staggeringly high percentage of debtors who become two or more months behind in their mortgage payments do not have the ability -on their own- to get current.

Lenders do offer some of their mortgagor's "workout" programs (which may include 'forbearance' modifications to their mortgage), but these instances are rare. This is because such "workouts" rarely work out for the debtor or lender. Too often the lender finds themselves in a subsequent default relationship with the debtors, thus incurring a second round of legal fees and deficit interest. Such account activity generally can and more often does result in major capital losses suffered by the lender. In light of these historical realities, Lender's are loath to entertain "workouts" with mortgagors in default of their mortgage obligations.

The time to act on your financing picture and needs is long before you have fallen months in arrears of your mortgage obligation(s). Your focus should be on preserving your good credit standing, preserving a good standing with your mortgage lender, preserving your hard earned equity in your property, and making good decisions that will allow you to enjoy your property free of financial stress.

There is truly only one alternative to foreclosure:
MAKE GOOD DECISIONS!

When filling out this form please do not use any special characters like dashes or # signs. In the case that you do not have a second mortgage please enter a 0 (zero) in the field entitled second mortgage balance.

The following represents foreclosure alternative examples that may offer you the relief you may be seeking:

Ask your lender about their workout programs. Make sure that if they approve a workout for you that there will be no further derogatory account reports against you by the lender to the national credit bureaus;


Re-establish your household budget. Prioritize your expenses and make the tough decisions necessary to remove non-essential recurring debt;


Address your mortgage account arrearage very early in its development. Delays will more severely affect your credit rating and will accelerate the difficulty in securing funding solutions;


If your immediate budget is simply too severely impacted by your present mortgage debt... you may want to consider selling the property and renting for a short while. The short term perceived sacrifice will result in a long term benefit to you;


Before you do a full application for financing relief, be very truthful with your prospective new lender : they will be able to tell you in advance of running any credit report or you incurring any application or processing costs whether they will have a program that will work for you; and


Register (at absolutely no cost or obligation to you) with EPI Fund by selecting the [ Funding ] tab above and following the prompts. EPI Fund does not run credit reports nor does it charge an application fee. EPI Fund's special funding program only considers the real property... not the credit history of the registrant.

DO NOT PROCRASTINATE IN ADDRESS OF YOUR FUNDING NEEDS!

Foreclosure alternative examples that are NOT to be ignored:

• Do not borrow from family or friends just to get caught up on your mortgage;
  
  
• Do not file bankruptcy just to reorganize your mortgage debt;
  
  
• Do not enter into a Lender Workout Program that is beyond your financial capabilities;
  
  
• Do not apply for secondary or primary take out financing from multiple prospective lenders: the multiple inquiries on your credit report will negatively impact the report;
  
  
• Do not procrastinate in bringing resolve to your financial situation; and
  
  
• If you have excess personal, unsecured debt that you may be unable to pay off, there are credit negotiation services (including EPI Fund) that can assist you in greatly reducing that debt through negotiation as a viable alternative to Chapter 7 Bankruptcy;
  
  
• Workout, forbearance, and reorganization programs that may be introduced by your mortgage lender DO NOT provide for derogatory credit repair. Such programs often times are equally as detrimental to the borrower as the filing of a Chapter 13 Bankruptcy Petition.
  
  
• THE SOONER YOU ADDRESS YOUR PRESENT FUNDING NEEDS... THE SHORTER THE PERIOD OF TIME YOU WILL NEED TO REPAIR YOUR CREDIT SCORING AND RE-ENTER THE FINANCIAL MARKETS AS A STRONG AND VIABLE PARTICIPANT!