Assistance for Veterans & Active Military Members
As a member of the military, your service and sacrifice for our nation has earned you and your family a number of protections when it comes to owning a home. If you are struggling to pay your mortgage and fear that you may lose everything you have worked so hard to obtain through foreclosure, understand that you have options – you are not alone.
The dedicated foreclosure defense lawyers at McFarlin LLP specialize in helping veterans and homeowners get the help they need when faced with foreclosure. We are proud the offer the aggressive legal representation our veterans need to protect their homes. Call (888) 728-0044 for a free case evaluation today. We can help you understand your options and will determine the best course of action for your case.
What Foreclosure Assistance Programs are Available to Veterans?
When faced with foreclosure, it is important to act quickly and explore your options with a knowledgeable attorney. McFarlin LLP can analyze your financial situation and determine the best choices for protecting your finances, home and the well being of your family. Some of these options include:
VA Compromise Sale
Much like a short sale, a homeowner with a Veteran Affairs-guaranteed loan may sell the house for a lower amount than the payoff amount for your loan and the VA will pay the difference.
VA Deed in Lieu of Foreclosure
Just like a deed in lieu of foreclosure, the VA will purchase the deed to the property, releasing the homeowner from mortgage obligations.
If the VA loan has been in default, the VA may purchase the loan in rare instances and assume responsibility for remaining mortgage payments.
The loan servicer will agree to delay foreclosure proceedings for a period of time in order to allow the homeowner to catch up on missed payments.
Interest Rate Reduction Refinance Loan
The IRRRL allows you to lower your interest rate by refinancing an existing VA loan, which should help lower the monthly mortgage payments.
Defending Your Home Against Foreclosure
It may seem impossible to overcome the threat of foreclosure, but with a strong legal representative, you can find the right solution and begin making progress. Do not wait to take action. By hiring a lawyer to protect your rights and help you make an informed decision, you can reach a realistic agreement with your lender.