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STOP QUICKEN FORECLOSURE
Quicken Loans Inc. is a mortgage lending company headquartered in the One Campus Martius building in the heart of the financial district of downtown Detroit, Michigan. In January 2018, the company became the largest overall retail lender in the U.S. (it is also the largest online retail mortgage lender). Unlike other large mortgage lenders that depend on deposits, Quicken Loans relies on wholesale funding to make its loans and uses online applications rather than a branch system. Amrock and One Reverse Mortgage are also part of the Quicken Loans Family of Companies. The company closed more than $400 billion of mortgage volume across all 50 states from 2013 through 2017.
Foreclosure Prevention Options
Quicken offers a variety of assistance programs to homeowners who are struggling with their monthly mortgage payments. They always stress that the earlier a customer notifies them of a problem, that the more options Quicken will have available to help the homeowner. They can lower interest rates, reduce payments, stop a foreclosure, and more. Keep Your Keys can assist with any of the available options, but the quicker we act, the more programs we will have available. It can’t be stressed enough that timing is critical for borrowers who are experiencing financial difficulty and who may be faced with foreclosure.
A forbearance is a temporary pause of your mortgage payment. In this case, the forbearance will last for an initial period of 3 months. Once that time frame is up, Quicken will work to reevaluate your situation and determine the next step, which can be a continuance of your forbearance. If you’re ready to resume payment, we move toward payment options.
If you fell behind on payments due to a temporary hardship, but are now in a better position financially, talk to us about a repayment plan. It may give you a manageable way to catch up. How does it help? Missed payments are divided into manageable amounts and spread out over time.
If you can't afford your current mortgage due to a financial hardship, and you want to stay in your home, we may be able to change certain terms of the loan — such as the interest rate or the time allowed for repayment — to make your payments more affordable. Any change to the original terms is called a loan modification. There are multiple loan modification programs available. These programs offer different options for borrowers in different situations, but all are meant to help people keep their homes when facing a significant hardship. We'll work with you to determine whether a loan modification or another option may work for you.
If you can’t afford your current mortgage, and staying in your home isn’t an option, a short sale might help you avoid foreclosure even if the foreclosure process has begun. The foreclosure date may be postponed if a signed purchase offer is received by Quicken. It allows you to sell your home for less than you owe on the mortgage, and may release you from having to repay the remaining mortgage balance.
Deed in Lieu
With a deed in lieu of foreclosure, you transfer ownership of your home to Quicken Mortgage voluntarily, instead of through foreclosure.
Keep Your Keys
Keep Your Keys is highly experienced in helping homeowners stop foreclosure. We have a thorough understanding of the products Quicken offers as well as their internal processes to get them approved and completed. With our 5 star reviews and exceptional customer service you would be hard pressed to find a better partner. Leave your checkbook at home and contact us today for a no cost, no obligation, appointment to get started.
Visit our Frequently Asked Questions page for common questions. Or setup an no cost, no obligation appointment with one of our licensed Consultants for customized answers for your scenario.