Options to Foreclosure
Generally, there are alternatives to foreclosure, including selling the property, surrendering the property to the lender, or arranging for modification or payment plans. Of course, there are conditions and requirements that apply. Contact Kondaur to discuss these options. Keep in mind that each situation is different, and the options to foreclosure – if any – may vary from borrower to borrower.
Documents
The type of documents that Kondaur may request from you, whether you are in foreclosure or are engaged in an option to avoid foreclosure, include any documents related to a pending sale of your property, income documentation, and evidence of recent payments you have made on the loan.
Toll Free Number
We encourage you to contact us as soon as possible at 888-KONDAUR (888-566-3287) so that we can discuss possible strategies with you.
HUD Counseling
If you seek the counseling of a HUD-approved counselor, please call (800) 569-4287.
Borrowers residing in the State of Washington can also call Washington Department of Financial Institutions at (877) 894-HOME (4663).
Loan Modification Program
Pursuant to California Civil Code Section 2923.52, et seq., Kondaur has established a comprehensive Loan Modification Program. The Program may be limited to certain borrowers who meet specific criteria. Our Program consists of the following:
Long Term Sustainability: The borrower must be able to evidence, through full documentation, the ability to make payments over a long period of time on the proposed modified loan.
Considerations: We may consider making adjustments to the interest rate or the principal balance.
Additional Considerations: Kondaur will also consider offering alternates to foreclosure, such as Short Sales and Deed-in-Lieu of Foreclosure transfers.
A Kondaur Asset Manager may be contacted regarding program details and specific qualification requirements.