Frequently Asked Questions

A. Home foreclosure is a process by which a lender regains a property which they have financed. Typically, this is because the borrower or homeowner is behind on house payments and is unable to catch up, often due to circumstances outside of their control. When the lender forecloses on the homeowner, the homeowner must move out of the house, therefore, losing all possession of the property and jeopardizing any possible equity that the homeowner may have in the home. There is a legal time frame, which varies from state to state, which determines how long the foreclosure process can take. Click here to review foreclosure laws state-by-state.

A. The goal of loan modification is to work out an agreement between the homeowner and the lender that will provide you with a monthly mortgage payment that is manageable. This allows the homeowner to stay in their home and protects their credit history.

A. Our company specializes in resolutions of mortgage delinquencies or home foreclosure claims on behalf of you, the homeowner. We perform a detailed financial analysis and work with you to determine your best alternatives. We review your lenders loss mitigation policies and your state’s foreclosure law to make sure that we give you the best service within the context of your situation. By working with you and your lender we can tailor a resolution to meet your specific criteria and financial circumstance. We do all of this effectively because we have many years of  experience helping homeowners to obtain meaningful resolutions (loan modification and short sale) with their lender. 

A. Time is of the essence when you are behind on house payments. Time is definitely not your friend in this situation. Each day that passes makes it that much harder to get a work out agreement with your lender that you can live with. The home foreclosure process can take anywhere from a few weeks to many months, depending on your state law and the method of foreclosure your lender chooses to use. We have encountered many homeowners who did not even know that they had already lost their house! Click here to contact IML for a free consultation.

A. There are many predatory companies who are not what they appear to be. Beware of unscrupulous companies who are actually just interested in buying your house at a big discount, attorneys who just want to take you into bankruptcy or companies that collect a consultation fee then do nothing for you. We are very proud of our track record of success and many satisfied customers. They are strong evidence that we deliver on our promises.  We post some of our successful cases right here on the website (Click Here to view them) and we have an A+ Rating with the Better Business Bureau (Click Here to see our rating).

A. Yes, but should you? It really depends on the results you want to achieve.  We have a staff of negotiators whose only job is to work with lenders and modify loans, every day, five days a week.  By letting us do what we do best you will get better results with less stress and effort.  We know how to deal with lenders and have in-depth knowledge about how these institutions work.  We can potentially save you thousands of dollars and free you from the time commitment required to achieve an effective resolution. IML delivers the critical information and professional representation that you need to get the best possible workout agreement with your lender.

A. Anywhere from 10 days to several months. This depends on the stage of delinquency you are in and the details of your financial position. Typically it takes 60 - 120 days to obtain a loan modification or 40 - 60 days to obtain a short sale approval (from the time you accept a buyer's offer).

A. Up until the foreclosure sale occurs there is still hope. If a sale date for your house has been set you need to act fast. We have stopped sales set for the next day but this is very risky and some lenders will not agree to it. The laws in your state may influence what we can and cannot do to assist you if your lender has filed NOD (Notice of Default). You’re best option is to take action immediately to stop foreclosure before it goes too far. Click here to contact IML today for a free consultation.

A. Yes. But we cannot negotiate a work out agreement with your lender until your mortgage has been discharged or dismissed from the bankruptcy proceedings. Our professional loss mitigation consultants can still evaluate your case and explain the best options to save your home. Then when the mortgage is out of the bankruptcy we can proceed with the home foreclosure help. Sometimes after bankruptcy it is easier to make a mortgage payment because other debts have been discharged.

A. Yes. Most of our clients have experienced this kind of inflexibility from their lenders before calling us. We get your bank to listen to your needs because they know and trust us. Most of our staff have many years of experience. That kind of experience gives us credibility with your lender. Over the years we have developed positive working relationships with key people at most banks. Our integrity and professionalism have earned us a reputation that allows us to be heard when no one else can get through the red tape. We will use our experience and connections to your advantage. Click here to contact IML today for a free consultation.

A. Maybe. The American Bar Association has reported that 96% of homeowners who declare bankruptcy end up loosing their home to foreclosure anyway. Bankruptcy is very unlikely to help you save your home. If you declare bankruptcy you will likely end up with BOTH a bankruptcy and a foreclosure on your credit report. That being said, there certainly are times when bankruptcy is appropriate and we recommend you consult a reputable attorney should you think you need it.

A. No. We specialize in out-of-court resolutions of government and non-government mortgage delinquencies or home foreclosure claims for homeowners. These can be FHA, Rural Administration, VA, Freddie Mac, Fannie Mae, or conventional loans which have become delinquent. (Not available in all states.) Click here to contact Improve My Loan today for a free consultation.