DEFAULT LETTERS
Not sure if you want to foreclose? No communication from your borrower? A Notice of Intent to Foreclose letter may be all that is needed to get your borrower to communicate and to help you determine if a foreclosure is your only option.

BALLOON LETTERS
When a loan calls for a balloon payment, some loans require a mandatory notice. If this notice is not sent, you may not be able to enforce the maturity date until the notice requirement is met. Balloon letters may run simultaneously with our Notice of Default.

MONITOR SENIOR LIENS
When your loan is in a junior position, knowing the status of the senior lien is instrumental in determining your strategy. Is it delinquent? What is the balance? When does it mature? Should you advance? We can offer insight to assist you with these questions.

FORBEARANCE AGREEMENT / REPAY PLANS
This is an agreement between you and the borrower whereby for consideration received by you, you are agreeing to postpone the foreclosure proceeding, while not invalidating it. The consideration received may or may not be applied against the debt that is owed.

LOAN MODIFICATIONS
A lender may approve a borrower’s request for a permanent change in the terms of the loan. Examples of this would be a reduced interest rate or extended loan term. Some Modifications require endorsements to your loan policy and recordation of the Memorandum of Modification Agreement, in addition to Subordination from junior lien-holders, to maintain your lien position.

DEEDS IN LIEU OF FORECLOSURE
Owner/borrower’s may want to just give up the property if they can’t sell it at fair market value or for other reasons. This process may speed up the recovery period for your investment. Rather than the four month foreclosure process, this process typically takes thirty days to vest title in your name so you can proceed to managing and/or marketing. It requires cooperation with the owner and no other liens against the property.