An acceptance or denial occurs only after Quick Qualification applications are carefully submitted by the client and processed through Strategic Debt Resolution analysis. An additional level of analysis by other professional groups can determine which cases can lead to a successful long-term modification and significantly reduce the possibility of default.
If the Qualification is more involved and requires lender contact before developing the confidence to proceed to the contract stage, we will then direct the case to our specialized in-house group at Strategic Debt Resolutions.
Each case is different. Each lender, service provider or investor group holding or servicing the note is continually changing their positions / policies as to how willing they are to engage in the negotiation process.
If the case requires special attention or considerations then we will take futher steps to examine if your hardship fits our criteria before entering into the contract phase.
We will utilize NPV (Net Present Value) analysis to see if the case can be made for Modification costs vs. the cost of Foreclosure.
BPO Analysis can present the Fair Market Value of your home and how compromised it may be for the lender to quickly regain it's investment without first exhausting every Loan Modification option.
Our negotiators may need to re-negotiate with the lender or servicer multiple times before accepting a result. We do not stop negotiating even if the initial modification proposal has been denied. We re-approach the lender / servicer with other programs we are aware of that may not be owned or guaranteed by Fannie Mae or Freddie Mac (Non-GSE) and work with investor specific programs. There are many modification programs our negotiators are aware of that the Homeowner is "in the dark" about, and unfortunately, this advantage on the lender / servicer / investor's part is leveraged against them.
If a case is denied and the Homeowner gets behind in their payments or their hardship increases, we encourage the Homeowner to re-submit for qualification at a later date. This is an evolving process - lenders and investors are changing their negotiation criteria on a regular basis.