Most loss mitigation companies were born out of the ashes of the current mortgage crisis. Over 99% of the people in the industry are made up of loan officers and mortgage brokers; these people are not prepared to help you. We were born out of a realization from personal experiences that a need existed for a professional network that wanted to make their knowledge, high standards & valuable experience to assist those who, unfortunately, are experiencing financial hardship, are upside down in the value of their homes, or even caught in the possibility of losing their homes.
Our Methodology is Unrivaled
DPS Network stands apart from typical loss mitigation companies for several reasons. Our litigation negotiations are directed by our licensed attorney’s and Network Partners, Jyothi Pallapothu and Lance Johnson who are keenly focused on mortgage law. We provide clients with real solutions at a time of financial and economic uncertainty while the mortgage and real estate industries struggle. Our negotiators are industry professionals and experts at the number one asset needed to succeed at loss mitigation and short sales: Client Advocacy.
Homeowners Are Facing Unforeseen Hardships
During the past several years, many homeowners were sold mortgage products that they did not fully understand or could not afford. Due to greed and hasty underwriting, many mortgage lenders created loans unscrupulously. As these mortgages begin to re-cast and as balloon payments become due, homeowners are finding themselves unable to make their mortgage payments, and in most cases unable to refinance their loans. As a result, the country is witnessing double-digit declines in real estate values and millions of homeowners are facing mortgage balances that exceed the fair market value of their properties.
The Tides Are Turning in Your Favor
Mortgage loan servicers and lenders are beginning to realize the financial disadvantages of carrying out foreclosures. Many are willing to negotiate to keep borrowers in their homes through Alternative Solutions. According to the Joint Economic Committee of Congress, the lender’s pre-foreclosure and post-foreclosure expenses amount to $50,000 on average. The lender must incur the costs of losses on the property itself, property maintenance, appraisal, legal fees, lost revenue, insurance, marketing and clean up. Safeguards are being put into place requiring lenders to provide restructuring options and to assess the homeowner’s financial situation. After making a cost-benefit analysis, many lenders are realizing that foreclosure may result in larger losses to their investors. Now, servicers and lenders are becoming more receptive to loan modifications as an alternative to foreclosure.
In the midst of the mortgage meltdown and the current financial crisis, many homeowners are running out of time to preserve their greatest asset — their home. Granting that every case is unique and no outcome can be guaranteed, our client results have included lower monthly payments, relocation assistance, reduced interest rates, adjustable interest rates changed to lower fixed rates, reduction of principal mortgage balances, forbearance agreements, extended terms of existing mortgage loans and temporary interest-only payment plans and even some principal forgiveness for making On Time payments for 5 years.
Steadfast Protection For Homeowners
The attorneys and professionals at our network are equipped to stand up to mortgage lenders and servicers with the goal of obtaining your goals which could include; Time to assess your situation, assist with submission of Loan Modification & follow up, Reinstatement of your loan, Deed In Lieu, Cash for Keys or Short Sale. Drawing on our network of professionals, we staff teams of experts with tailored skill sets and experiences to achieve specific client objectives.
Whether our clients have never missed a payment or have missed several, we employ our best efforts to obtain a favorable outcome. We are deeply committed to personalizing your financial goals, thus bridging the gap between homeowners and lenders in every aspect of our work. By dealing directly with mortgage lenders we have lowered monthly payments, re-negotiated interest rates and principal balances, and saved many homeowners from facing foreclosure.
When negotiating with lenders we have been able to reduce principal balances to the fair market value of the property, Stop Foreclosure Sales, and obtain affordable monthly payments for borrowers who have suffered financial hardships.
A successful comprehensive foreclosure intervention solution generally requires knowledge of:
- Borrower personal financial statements
- Financial planning models
- Mortgage lending and servicing procedures
- Real estate valuation
- Short-sale procedures and Process
- Bankruptcy Law
- Outstanding negotiating skills
- Other financial and real estate related disciplines
Our Network Will Advocate For You
DPS Network and our entire team of professionals is dedicated to exploring your legal options to achieve mortgage relief and finding resolution to your financial goals. We have a passion for our clients’ rights.
Our staff consists of previous employees of the nation’s leading lenders. We are experts at presenting your situation to your lender so that the best solution is obtained.
Our senior real estate consultants have over 40+ years in the business. Our staff also includes a specialist who has been involved in short sales and foreclosure properties for the last ten (10) years, a consulting Certified Public Accountant, and a powerhouse team consisting of 150 years of combined experience in Loss Mitigation, Real Estate, Mortgages, Financing, Foreclosure, and Law.
To learn about our services or for a Free Consultation, call us at (847) 543-0200. You can also visit our Contact Us page and use our contact form to submit any questions or concerns you may have.