Q. What is foreclosure?

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 his or her 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.

Q. How can loss mitigation or loan modification help you?

A. The goal of loss mitigation is to work out an agreement between the homeowner and the lender that will stop foreclosure proceedings permanently. This allows the homeowner to stay in their home, protects their credit history and secures the investment you have made in your home.

Q. How do we stop foreclosure?

A. Advanced Money Solutions has a unique business model in the fact that we represent numerous groups in the fields of loan modification, debt consolidation and short refinance. We take an objective position in order to focus on the performance of our experts. We perform a detailed financial analysis with you and determine which option and team of experts will provide you with the best service. AMS has over 12 years of experience helping thousands of clients obtain financial stability and wealth. And we stand behind our service with a 100% Money Back Guarantee!

Q. Should I act now?

A. Yes. Unfortunetly, time is not your friend when it comes to delinquencies or the foreclosure process with your home. Each day that passes makes it that much harder to work out an 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.

Q. Why you can trust Advanced Money Solutions?

A. AMS works directly with the best attorneys and negotiating teams to ensure your process is in the hands of an expert. Unlike many companies, AMS will immediately have you in contact with a specialist that will take care of your needs. We are helping thousands of clients just like you every day and because of that fact, we are able to offer our clients a 100% Money Back Guarantee.

Q. How long does it take for you to complete the case once we fill out all of the paperwork?

A. When we have received all of the requested documentation from you, your file will be assigned to a negotiator within 24 hours. We begin the process immediately. The average time for your lender to accept the terms of the negotiating is 90 days, but many times can take even longer.

Q. Do I have enough time to stop my foreclosure?

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 the more time we have the better! Your best option is to take action immediately to stop foreclosure before it goes too far.

Q. I've already talked with my lender and they just want all their money. Can you still help me?

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 of our experience and relationships Our expert teams have helped thousands of homeowners in need and that kind of experience gives us credibility with your lender. 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.

Q. Do I need to have a special type of mortgage loan for you to help me?

A. No. Our teams specialize in loss mitigation for all government and non-government mortgage delinquencies or home foreclosures whether your mortgage is an FHA, Rural Administration, VA, Freddie Mac, Fannie Mae, or conventional loans Advanced Money Solutions can help!

Q. What if I can no longer afford my home? Can you still help me?

A. Yes. If you are certain that you cannot afford your home any longer and wish to sell, we can help you to secure a short sale payoff or a deed-in lieu of foreclosure agreement with your lender. Advanced Money Solutions is here to help in any way possible.

Q. Why would a lender accept less than their payoff in order to facilitate a sale of the home? Why would a short sale be preferable to a lender than foreclosing on the subject property?

A. Foreclosure is an expensive process for a lender. Banks are in the business of making loans, in general they don't want to possess the property. You also must remember that not only is foreclosure a long and arduous process for the bank but it also costs money.

Q. What does "Acceleration Clause." Mean?

A. It means that once a borrower is in default, the lender can choose to demand payment of the entire balance of the mortgage in one lump sum.

Q. What does a notice of default mean?

A. A Notice of Default (N.O.D.) means that the bank has contacted an attorney and the foreclosure process has begun. They have set a date at which your home will be auctioned off at a public auction to the highest bidder.

Q. What's the difference between Judicial Foreclosure and Non-Judicial Foreclosure?

A. Judicial Foreclosure means that the lender has to go to court to foreclose. Non-Judicial Foreclosure does not require the lender to go to court. This is because the loan instrument the borrower signed contained a power of sale clause, or the instrument is a Deed of Trust. A power of sale clause means that the borrower authorized the lender to sell the property to pay the loan if the borrower defaulted.

Q. What does "Lis Pendens" mean?

A. It is a Notice of a Pending Lawsuit and one of the initial steps the lender takes on the path to foreclosure.

Q. Will I be expected to pay the delinquent payments on my mortgage?

A. In some cases you will. It depends on the lender and your situation. Usually when you are more than 90 days late, the bank will ask for a good faith payment upon approval of your loan modification.

Q. Will the principal balance of my loan be reduced if my value is upside down?

A. The loan modification process focuses on reducing the rate and/or term of your loan to assist the homeowner in achieving a more affordable payment and stopping foreclosure preceedings. Some homeowners do receive principal reduction, but this is not typical.