Homeowner | The Note Authority

WANT TO KEEP YOUR HOME? Here are some options.

Loan Modification

A loan modification is a change in one or more of the terms of a mortgagor's loan, allowing the loan to be reinstated, and results in a payment the mortgagor can afford. A loan modification can involve a reduction of interest rate, extension of maturity or a reduction in outstanding principal balance.
Repayment Plans

Repayment plans are used when a borrower may have temporarily lost the ability to make regular monthly payments on their mortgages (for example due to job loss). A repayment plan allows them to make a smaller additional monthly payment to catch up on their delinquency.
Discounted Payoff

A discounted payoff is a transaction in which the lender agrees to retire the outstanding debt for less than the full amount of what it is owed. The lender may accept a one-time cash payment.
Reinstatement

Paying the entire past-due amount on the mortgage loan (all missed payments, plus interest, attorney fees, late fees, taxes, and other fees). This requires the lender's approval, particularly if foreclosure has actually started.

Short Sale

A short sale involves reaching an agreement with the borrower so that the property is sold to a third party for an amount that may be lesser than the unpaid principal on the loan. This typically happens when the borrower is unable to afford regular payments despite all efforts to restructure the loan.
Deed-In-Lieu

A Deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceeding.
Loan Assumption

Allows a third party to purchase your property and take over your loan. This will depend on the credit and ability of the third party to make the monthly payments on the home.
Seller Assistance

This program is to help those who have enough equity to pay off the mortgage debt and choose to avoid foreclosure by selling the home. We will assist the homeowner in working with a qualified real estate professional to get the home sold.