With the high rise in foreclosures and changes in the real estate market, the Gladstone Law Group offers a proactive Loss Mitigation program. Our goal is to educate and assist borrowers with options to stay in their homes; in turn helping lenders avoid the costs associated with the foreclosure process. Many options available to avoid foreclosure are faster than a foreclosure action. These alternatives help reduce legal fees and eliminate the potential loss per REO property associated with foreclosure proceedings.

The Loss Mitigation services offered by Gladstone Law Group will facilitate a satisfactory resolution that is beneficial to both the lender and the borrower. During our tenure in the Debt collection Industry, our competitive advantage was the ability to reach out to debtors and effectively communicate payment alternatives. By applying these skills we can offer effective solutions. Our Loss Mitigation services include:

• Early Stage Loss Mitigation: Advanced Borrower Contact
       
• Proactive telephone and written campaigns to contact borrowers at risk or in default.
       
• Initial contact before an interest rate adjustment occurs on subprime loans.
       
• Encourage borrower to have contact with the lender/servicer before or during the initial 30 days of delinquency.

• Outbound calls to contact borrowers in foreclosure to offer any solutions available that will be beneficial to both the borrower and the servicer.



• Borrower’s Page – we provide helpful information for borrowers on our website, including forms to determine eligibility for the different programs, links to online resources, and lender specific tools and contact information.



• Loan Modification – may involve interest rate reduction, extending the term of the loan and/or changing the type of loan.



• Repayment Plans – over a specified period of time, the borrower makes additional payments, along with regular month payments until the loan is current.



• Special Forbearance Agreements – repayment plan options (may include reduced or suspended payments) for borrowers with temporary financial problems.



• Deed In Lieu of Foreclosure – the borrower voluntarily conveys the title to the lender to avoid foreclosure.



• Short Sales – the borrower sells the property to a third party and the lender will accept less than it’s owed in order to satisfy the debt.

We also offer assistance with, but not limited to the following programs:

• VA Refunding – VA purchases the loan from the lender.



• FHASecure Program - a refinancing option through a FHA insured loan. This program is only available for borrowers with a non-FHA ARM that has reset and acceptable credit rating.



• Partial Claim (FHA Loans only) – lender agrees on a one-time payment from the FHA Insurance Fund.