Residential and Commercial Loan Resolution

If you are interested in keeping your property whether it is commercial or residential, this is the program for you. A loan restructure will always yield greater results than a refinance but the process is completely different.

This process involves a detailed analysis of your existing loan and after a thorough review, Beck Finance Group will create an action plan will provide the greatest and most beneficial result. Regardless of credit score, missed mortgage payments or lack of equity, in most cases we will be able to work with your current lender to restructure your loan to an interest rate as low as 2% and reduce or forbear a portion of your principal balance amount. Once your new rate and term are achieved there will be a permanent change to your note and mortgage.

In order to obtain these incredible results, Beck Finance Group has taken every measure to ensure that all owners and staff members receive the highest level of training available and are constantly upgrading our software and training tools.

We can restructure your loans through the current government programs or internal programs that are offered by each lender. We have access to all qualification tools to determine eligibility such as the waterfall tests and NPV tests. We will not accept your file prior to determining if and which programs you will qualify for.

Principal Reduction

This is also a home retention option. We are now participating and submitting loans for the new government PRA (Principal Reduction Alternative) program. This program has a separate set of tests to determine eligibility than the government modification programs. This program will reduce your principal balance of your mortgage usually up to 30% of the balance based on comparable neighborhood sales and values. This option can be used alone to reduce your monthly mortgage payments or in combination with a rate reduction to achieve your new lower monthly payment.

Short Sale

A short sale is a great option when you realize that you no longer want your home, but don’t want to go through a foreclosure. In a short sale, the bank will accept an offer typically that is less than the amount that you owe. To be eligible for a short sale, there is a very difficult approval process that is required for both the buyer and the seller, but Beck Finance Group has successfully completed many short sales and we are very familiar with these transactions from start to finish. We will handle every aspect of a short sale for you. Typically, we will make it possible for you to walk away with cash in your pocket. This is a much better option than foreclosure.

Deed in Lieu (Cash for Keys)

This is also an option when you realize that you no longer want your home. This is also known as the cash for keys program. The lender will give you up to $3000 cash if you agree to leave the property in great condition. You typically have 6 months to leave and find a new home. The lender will take back your property and you don’t have to sell it or go through a foreclosure.

A deed in lieu of foreclosure offers certain benefits to both the borrower and lender when used correctly.  For homeowners who can no longer afford their mortgage and do not qualify for a modification, a deed in lieu may be appropriate.  It allows the borrower to give the property back to the lender without having to go through the pain of foreclosure, and the borrower is typically released from the debt associated with the mortgage.
Before agreeing to a deed in lieu, your lender will usually require you to allow them to do a walk-through of the property. 

Refinancing 

If your credit is very good and you have substantial equity in your home, a refinance is a very good option to lower your interest rate and lock into a fixed rate. Qualifications have become more difficult, so the benefits are very good if you qualify. Still, you can never get an interest rate as low as you could get on a loan restructure or modification. On a refinance a 4% rate is obtainable; where as a 2% is possible on a modification.

Real Estate Investment Opportunities

Beck Finance Group is very heavily involved in the real estate market and we have many opportunities available for Investors, Real Estate Agents, Contractors and Mortgage Brokers. We are constantly looking for excellent investment homes to purchase as a group or individually. We rehab homes and either resell or rent them out, we can keep Real Estate Agents and Mortgage Brokers constantly busy. Also, we have properties nationwide that need improvements done so if you are a skilled contractor or subcontractor, we can definitely use your services. Please ask us about our real estate portfolio if you are interested in either buying or selling your home.