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Franklin American Mortgage Deed In Lieu Application, Forms And Packages

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**We are not affiliated with any Mortgage servicer, the investor/beneficiary of your mortgage note, the mortgage insurer (if applicable) or any government agency. The information found on this page is for educational and convenience purposes only. The information found on this page should be considered as opinion and not fact based on our experience with lenders over 10+ years. Consult your mortgage servicer directly or a professional before using any of the information found on this site. If you are seeking an intermediary to assist you in getting help with your mortgage you may contact us at 888-934-3444 or via email at [email protected]ow.com for further review for a no fee, no obligation, consultation. If required you may be referred to a local professional or legal counsel for additional assistance with your mortgage. Please read through our Disclaimer page for additional details. We do not represent in any way any financial institution named on this page. If you feel that any of this information has become outdated or is incorrect please contact us immediately.**

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Deed In Lieu Package PDF

Take the first step to getting started on your Deed in Lieu. Download Forms Here.

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Take the first step to getting started on your deed in lieu. Download Forms Here.

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Next Steps

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Step 1: Fill Out F.A Mortgage Deed In Lieu Forms

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What is F.A Mortgage Deed In Lieu Package?

F.A Mortgage Deed in Lieu of Foreclosure Request For Mortgage Assistance (RMA)

If you want to apply for a deed in lieu of foreclosure doing a Deed In Lieu Application Form or Request For Mortgage Assistance (F.A Mortgage RMA) is required by F.A Mortgage and their investor (the beneficiary of the note). The first step is complete this document correctly in order to start the process. It is recommended that the most recent paperwork is used. If you need any help regarding applications, you should check F.A Mortgage single point of contact because  F.A Mortgage package changes at any time and their investor might require specific documentation as well. A very few professionals really specialize in the dealing with F.A Mortgage and their deed in lieu of foreclosure process so finding the right one is crucial because you should be able to avoid many of the foreseeable pitfalls that come with the application of deed in lieu process. That’s why we put the latest paperwork we could find online to help us. Helping you through the process is what we do. We offer a done for you service. Click here and fill out the form to request a call from a deed in lieu professional or call 888-934-3444.

What is the Deed In Lieu F.A Mortgage Hardship Affidavit?

F.A Mortgage Deed in Lieu of Foreclosure Hardship Letter

F.A Mortgage has a hardship affidavit (or statement) built into their mortgage assistance application (the F.A Mortgage RMA),

Pro Tip:  F.A Mortgage, when reviewing your application to deed the property back to them, may require you to attempt to sell the home first. This used to be a requirement but has been more flexible over the recent years.

What Is A Deed In Lieu of Foreclosure?

Deed In Lieu of Foreclosure Definition

A deed in lieu of foreclosure is a form for foreclosure alternative that allows the homeowner to walk away from their property and give it back to their lender either because they don’t want to go through the hassle of selling the home or because they have tried and have not been able to do so.

Step 2: Submit F.A Mortgage Deed in Lieu Package

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F.A Mortgage Deed In Lieu Submittal

Submitting Your Deed In Lieu Package to  F.A Mortgage To Get The Process Going.

What is in the F.A Mortgage Assistance Package?

Like any other lenders including F.A Mortgage, all require pretty much the same documentation. It does not matter how much you want to avoid it in many cases they will require a listing agreement to see you’ve attempted to sell the home for more than 90 days and that’s only the beginning.

At some time they, they require you to provide your financial information such as a monthly budget, your tax returns for the last two years along with a 4506t to show the returns were actually filed, pay stubs or proof of income like a profit and loss, bank statements, reason for requiring to do a deed in lieu, and a hardship letter.

Pro Tip: In most cases working with a skilled team such as ours should be able to pick out the items that will most likely be asked of by your lender and more important which items will not. The moment your lender has to requested items from you it’s likely they passed over your deed in lieu application when the process could have continued. Now you’re going to have to wait for it to be your turn again.

Step 3: F.A Mortgage Deed In Lieu of Foreclosure Broker's Price Opinion (BPO) or Appraisal

F.A Mortgage Deed In Lieu Value

Getting The Correct Value Goes A Long Way.

In order for deed in lieu process to be completed,you must know the value of the property. Valuation of the home is completed by a real estate agent/broker or appraiser who reviews the comparables in the area to establish what the home is worth. Properties that had sold and are on sale, both are reviewed that have sold within the last 3 to 6 months but this depends on the volume of homes actively moving in your local market. They consider your homes perceived condition, the size of the living space, how many stories it has, the size of the lot and whether or not it has a pool.

They will also consider market conditions and how fast homes are selling in the area. There are many factors they take into consideration which is why they hire a local professional rather than go online and use something like Zillow or Redfin.

F.A Mortgage Deed In Lieu Appraisal

Deed In Lieu Appraisal Values

Mortgages have different investors. F.A Mortgage is responsible for representing the correct values to those investors so they can make their final decisions. In most cases a local agent or broker dos a value referred to as a BPO or Broker’s Price Opinion because it’s cheaper than an appraisal and F.A Mortgage loan’s beneficiary is already going to be taking a loss anyway. In certain cases the mortgage investor requires value by a licensed appraiser and one that is often certified by that investor to complete values as per their guidelines. Real Estate Appraisers are licensed specifically to value homes where as agents can give their opinions (hence Broker’s Price Opinion) but that can almost always be over turned by an appraisal. Some investors such as Fannie Mae (FNMA) complete two appraisals. The type of value completed varies from servicer to servicer and investor to investor.

F.A Mortgage Value Disputes and Variances

Fighting Values, Disputing Them and Requesting Variances

A value may return too high or too low sometimes regardless of how professional or beginner you are. One reason of that variance that they are not from the area and comparing properties that don’t have anything in common with the subject property. At this time you can provide a competing appraisal or set of comparable but choosing the right properties to compare is a skill set on its own. Call us today at 888-934-3444 and we’d happy to discuss any hold ups you may be experiencing in your Deed in Lieu.

Pro Tip: Deed In lieu Value Variance is an opportunity to apply for a mortgage assistance servicer such as F.A Mortgage to vary from their typical practices. Often values are good from the day they are completed for 90 days; Sometimes longer especially when it comes to a deed in lieu.

Step 4: Finalizing Deed In Lieu Terms

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How Long Does A F.A Mortgage Mortgage Deed In Lieu Process Take

F.A Mortgage’s Deed In Lieu of Foreclosure Time Line Coming To An End.

Once the value has returned and they have a complete package, F.A Mortgage’s Deed In Lieu negotiator will decide to submit the file to the management. They will not submit anything they don’t feel will get approved by management and the investor because they get graded on their results. Often there are many steps before getting approved. An auditing process happens before the submission to management and after approval there is often another audit that occurs before an approval letter is issued to you the homeowner or the professional (such as our company) that is representing you.

Countering Terms of F.A Mortgage's Deed In Lieu Offer

F.A Mortgage Final Decision on the Deed In Lieu of Foreclosure

This is also a time when F.A Mortgage may issue a decline to your deed in lieu request. Often there are three main parts to an approval that matter most to you. The move out date and condition, what amount if any is allowed to go to you for relocation costs, and what is going to happen to the deficiency after the deed in lieu. The laws in different states may vary on whether or not they have the right to pursue you. Factoring many of these issues takes a special set of skills that can only be gained through experience. Anyone can get the easy ones done but it’s the difficult transactions that separate that experts from the trainees.

Step 5: Deeding The Home Back To F.A Mortgage or The Investor or A Mortgage Insurance Company

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Deed In Lieu Vacate Procedures

How quickly will I need to move out of my home?

The lender will want you to deliver the home in good condition. 30 days will be given to moving out but that can often be negotiated. Depending on how quickly you vacate the property, relocation money can be offered . Deed in lieu is like closing a typical real estate transaction. Once all lien holders and any mortgage servicers have approved the terms of the deed in lieu you can move forward grant deeding the property back to whomever you are instructed to deed it over to. By now a title search has probably been run by your lender as they will not want to take back possession of the property unless there are no longer any liens.

Deed In Lieu time to vacate extensions

F.A Mortgage Issues Deed in lieu Extension

People often ask us a question that what happens I can’t leave my home in time and the approval letter expires?. The answer really depends on many factors including but not limited to the delinquency of the mortgage, whether the value they have on file for your home has expired, and various other hurdles. It is recommended to consult with one of professionals to see if you need more time and to see if you can get an extension or if you will have to start the process all over again. F.A Mortgage’s Management will be one of the challenges ahead of you. Results may vary greatly but the best part of our services is we only get paid if the transaction successfully closes! Call us today for more information about our “Done For You” services. Call 888-934-3444 or email us at [email protected]

Pro Tip: Deed in lieu of foreclosure may effect your credit worse than doing a short sale. It is still better than a foreclosure on your credit but lenders that might lend to you in the future might say it’s as close to as bad for your report. At least a deed in lieu shows you didn’t have any other options and you didn’t fight them but this varies from case to case.

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How Does ACG Get Paid?

Absolute Consultant Group (ACG) handles the process of applying to your mortgage lender for deeding back your property. We streamline the process for you. ACG doesn’t charge upfront which is a good thing but did you know in the case that Franklin American Mortgage doesn’t approve the transaction we don’t get paid a dime. In some cases the lender will even pay our fee. It’s a no risk opportunity to work with the right team to help you with your mortgage. Call for details 888-934-3444.

Understanding The F.A Mortgage Deed In Lieu Status

If there’s anything you can take away from the process you may already be aware from the Franklin American Mortgage Deed In Lieu Application is a lengthy document. Franklin American Mortgage hasn’t simplified the process much better either. To make your life easier ACG has put in the time and the efforts to offer you a streamline process of application for the deed in lieu with a few steps as possible in order to reach your mortgage assistance goals. Franklin American Mortgage Corporation, operating out of Palm Beach Florida. outsources a very large part of the process and often that leaves you talking to someone overseas.

Assistance For F.A Mortgage In America

Locally founded here in the USA our company becomes your single point of contact for all of your Franklin American Mortgage challenges.  With us you get someone here in the states to work with. You and your Franklin American Mortgage with ACG are in good hands. When you work with Absolute Consultant Group for all your lender needs we become your one stop shop for working with Franklin American Mortgage‘s deed in lieu process or any other mortgage assistance programs from start to finish.

Call Us 888-934-3444 Today.

Franklin American Mortgage Deed in Lieu Package Breakdown

What is the F.A Mortgage Deed In Lieu Package?
F.A Mortgage requires a Deed In Lieu Package known as Franklin American Mortgage RMA to be completed in order to apply. In first step, you should use the most recent paperwork when applying; Always check with a professional. The paperwork we last found was put up on the Absolute Consultant Group (ACG) Website. ACG helps homeowners with their Franklin American Mortgage deed in lieu process.

There are 5 Sections to the standard Franklin American Mortgage deed in lieu forms.

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Franklin American Mortgage Deed In Lieu RMA Forms PDF Breakdown:

Hardship Affidavit Application Check List

  1. Borrower /co-borrower Information This section will require you to fill out all the personal details of the borrower and co-borrower.
  2. Monthly Income. You will put all the details about the total income of the borrower.
  3. Monthly Expenses This section will contains all the details of the monthly expenses.
  4. Agent Information In this section you have to fill out information about seller’s and buyer’s agent.
  5. Authorization This section requires your signature authorizing that everything you have stated is true etc.

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You May Also Like:

  • Franklin American Mortgage Deed In Lieu Of Foreclosure
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  • Franklin American Mortgage Loan Modification RMA Form Application Package
  • Franklin American Mortgage Foreclosure Process
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This post first appeared on Short Sale Blog | Loan Modification | Mortgage | F, please read the originial post: here

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