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Borrowers
selecting this plan usually meet one or
more of the following criteria:
- belief
that a 3rd party mediator will have
greater success in securing a workout
from the lender
- seek
immediate resolution
- has
a portion of the past due amount
- interested
in establishing a repayment or
forbearance plan
Homeowners selecting
the Gold Plan may or may not be facing a
sale date. Interested in immediate
resolution, they have previously been
unsuccessful in negotiating a workout on
their own with their lender. A range of
circumstances leading to the default
includes layoff, illness, divorce, and
death. Despite existing hardship,
borrowers should be on the road to solid
recovery and must be in a position to keep
the repayment schedule granted by the
lender.
Because an RSI Default
Management Specialist mediates the entire
negotiation process on the borrowers
behalf, borrowers should have in mind a
specific alternative to foreclosure that
they want the Default Management
Specialist to pursue. Homeowners who are
more than 4 months past due with more than
$4,000 being required by their lender to
reinstate will be most appropriately
matched with this program and will be most
likely to experience a successful outcome
as an alternative to foreclosure utilizing
this plan.
Financial
Statement
It
is our goal to ensure that our clients are
not only taken seriously but are also
provided maximum consideration from their
lenders in effort to avoid foreclosure.
With this in mind, it is intended that the
Borrower Financial Statement be completed
on line. It is our experience that the
neater and more legible the Financial
Statement and supporting documents
submitted, the less likely your lender
will be to delay assessment or render an
unfavorable judgment due to
misinterpretation of data.
Completing
the form on line should not take longer
than 15 minutes and will go along way in
setting you apart from the thousands of
files that your lender is called to review
on a daily basis.
Although
we have tried to utilize a programming
platform that most will have access to
[ MS Excel ], if you have a
problem completing your Financial
Statement on-line, please contact your DMS
immediately for further options.
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