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-  Loss Mitigation / Loan Modification  -

Partial Claim
FHA Loans only


If you currently have a FHA Loan, we can start discussions with your lender for a Partial Claim. This strategy is only available on FHA loans. With The Department of Housing and Urban Development (HUD), your lender, we work together to help you with a one-time payment from the FHA Insurance Fund. You may qualify if your loan is:

1. You are at least 4 months but no more than 12 months delinquent
2. You are now able to begin making full mortgage payments
3. You have already resolved any hardship that caused you to fall behind
4. You can currently be in Foreclosure..
5. You have long-term financial stability
that can support the new mortgage debt and make the payment
5. The home owner doesn't qualify for  forbearance or modification
6. Primary residence
7. Can currently be in Bankruptcy and qualify for a partial claim, however, the Bankruptcy Court must first give approval


With this strategy, you will be required to sign a promissory note with HUD. With this, they will place a lien on your property. This loan from HUD is interest-free and will bring your account up to date immediately, this lien will be due when you decide to refinance, sell or leave the property.

Here are the terms for the Partial Claim?:

1. Interest free Note.
2. You're not required to make any monthly or periodic payments
3. The note will be due when you decide to refinance, sell or leave the property.
4. No repayment penalty
5. The Home Owner is eligible for a refund on the mortgage insurance premium after the note is paid in full.
6. Payment are made straight to HUD.
7. Partial payments can be paid by cashiers check or certified funds

From the HUD Website:

If a loan has been modified or reinstated using a partial claim within the past three years, re-default risk is presumed to increase following a subsequent partial claim. Prior to allowing a partial claim in this circumstance, the mortgagee must prepare a written justification, and retain a copy along with supporting documents in the claim review file. It is anticipated that this will be a highly unusual occurrence, and that the cause of the second default will be unrelated to the original problem. There is a lifetime limitation of 12 monthly installments of PITI.


The Partial Claim strategy may be combined with another plan or stand alone. In some situations a special type forbearance may be combined, giving the home owner some additional options.


Get qualified now - Confidential Resolution Form

For more information, please contact BrokerMortgages.com 



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