You:
Hi <First Name>, this is <Your Name> with Integrated Home Solutions… How are you?
<wait for response>
You:
<Respond Appropriately to how they are doing>
Your scheduled an appointment for <Appt Time> today regarding the upcoming Foreclosure Sale on <Street Address>… Is this still a good time?
Homeowner:
Yes
You:
Perfect. Before we start, I do have to let you know that all calls are monitored or recorded for quality purposes, ok?
<wait for response>
You:
Ok, Great… You were communicating with one of our Associates <Setter’s Name> and stated that you’re looking to <Keep / Sell> your home… is that correct?
Homeowner:
Yes / No
You:
Ok, I understand. Well before we get into the details, let me tell you a little bit about who we are and how we can help…
Again, my name is <Your Name>… I’m one of the Foreclosure Assistance Consultants with Integrated Home Solutions. We are a Community Development Corporation that primarily focuses on helping distressed homeowners to Stop the Foreclosure.
We do that with what we call our Foreclosure Assistance Program which consists of three stages…
1. Stop the Foreclosure
2. Get Your Loan Reinstated
3. Help You Reestablish Your Personal Credit
Again… All three stages are included in our Foreclosure Assistance Program.
What I need to do now is ask you a few questions about your specific situation to determine if you Qualify for the Program and see if we can help… Is that ok?
Homeowner:
Yes / No
You:
Great.
*Remember to show compassion & Empathy while Homeowner answers questions & explains their situation.
How long have you been in Foreclosure… or When was the last time you made a payment that was accepted by your lender? <Add Response to Notes>
What caused you to get in that situation… Were you affected by COVID, Did you get sick, Did you lose a job, Was there a loss of a borrower or Divorce? <Add Response to Notes>
<Show Empathy Here>
You:
Oh wow… I’m so sorry you went through that.
Are you doing better now or Have you recovered? / Are you back to work full time?
Homeowner:
Yes / No
You:
Are you currently working Full-Time?
Homeowner:
Yes / No
So if your lender were to reinstate your mortgage, you would be able to comfortably afford the monthly payments again?
Homeowner:
Yes / No
You:
If No, Homeowner is:
◦ Has not recovered
◦ is not working full-time
◦ and cannot afford
Ok, I understand.
Next Question… How much is your monthly mortgage payment including taxes and insurance?
Homeowner:
Mortgage Amount or I don’t remember
You:
If they don’t remember… Ask for an approximate amount.
If they provide the amount… Ok, got it.
And lastly, are you the only income provider for your household?
Homeowner:
Yes/No
You:
And what is your Gross Monthly Household Income? That’s your monthly income before any deductions.
Homeowner:
Provides Gross Monthly Income.
You:
Ok, Thanks… Give me one moment while I calculate this…
***To calculate if the Homeowner has adequate income to support the Monthly Mortgage Payment, divide the Total Gross Income Amount by the Mortgage Payment.
If the Ratio is Less Than 45%, Homeowner has sufficient income.
If the Ratio is More Than 45% Homeowner Does Not have sufficient income and will likely be denied for a Loan Modification.***
You (If NOT Qualified):
Based on what you’ve explained, it doesn’t look like you have enough income at the present time to cover your mortgage payment if your lender were to reinstate your mortgage.
Now if you believe your income would increase within 30-60 days after stopping the Foreclosure, we can escalate your file to see if we can get an override to get you approved.
But if your income will most likely stay the same, we would highly recommend that you consider selling your home prior to the Foreclosure sale date.
Now if your home Qualifies for an Offer, we can help by purchasing it… But again, we’d have to submit for Approval prior to making you an offer.
If that’s something you’d like to consider, I can have one of our Acquisition Managers reach out to discuss with you further… Would that be ok?
If Yes – Ok, I’ll have one of our Acquisition Managers reach out to you As Soon As Possible.
If No – Ok, I understand. We don’t believe its a good idea for you to spend the money to Stop the Foreclosure if you would just end up right back in the same situation 30-60 days from now.
It would be in your best interest to keep as much money in your pocket as possible right now in case you have to make an immediate move.
But with that being said… If you still want to be considered for the Program, I can escallate your file to see if we can get an override. Would you like me to do that?
If Yes – Place the Homeowner on hold and contact your manager to request an override.
If Approved, let Homeowner know that you were able to obtain an override and continue below @ The next thing I’m sure you’re wanting to know is… How much will this cost?
If No – I completely understand. I’m sorry I don’t have a better option for you right now. If you change your mind or have another questions, please feel free to reach back out to us any time. Have a Blessed Day.
You (If Qualified):
<If Yes, you should confirm the following with the Homeowner (Again)>
So again, just to confirm…you have:
◦ You’ve recovered
◦ is working full-time
◦ and can afford
Ok, Great!
Based on what you’ve explained about your current situation, it looks like you do qualify for our Foreclosure Assistance Program.
Here is what that looks like:
To help Urgently Stop a Foreclosure, most of our clients in situations “Like Yours” file a Chapter 13 Bankruptcy.
Now, based on what you’ve said, it sounds like you’ve financially recovered and don’t necessarily need to in a 3 or 5-year Bankruptcy plan… But what we can help you do is to file the Chapter 13 just as a “Tool” to Stop the Foreclosure. Basically, we would help you by:
◦ Showing you how to take the Required Online Pre-Filing Credit Counseling Course
◦ Submitting your Chapter 13 Petition Documents to the Federal Bankruptcy Court
◦ Obtaining a Notice of Bankruptcy Filing with a your Case Number
◦ Contacting and Communicating with the Foreclosing Attorney on your behalf to let them know you filed Chapter 13 and have them Stop the Foreclosure within 24-hours.
◦ Once we’ve confirmed that the Foreclosure has been Stopped, we’d wait about 3-5 days to allow all parties systems to be updated with the Stopped Foreclosure, then
◦ We’d start the process to get your Mortgage Reinstated with your Lender.
A couple things that we do need to make clear and be sure you understand:
◦ If the property is your Primary Homestead Residence, You are a named Defendant on the Foreclosure, and you’ve only filed Bankruptcy once or have only had one Bankruptcy dismissed in the last 3-years… We can Guarantee you that we can have the Foreclosure stopped.
◦ Because we don’t control your Mortgage Company, We Cannot, however, guarantee that your Lender will Reinstate your mortgage. We do believe, however, based on the information that you’ve provided, that there’s an Extremely High probability of them Reinstating it, but we just can’t guarantee it.
The next thing I’m sure you’re wanting to know is… How much will this cost?
Well, you’ve got Three options to filing a Chapter 13 Bankruptcy to Stop Foreclosure:
◦ First Option (Which we wouldn’t recommend in your situation) is to hire a Bankruptcy Attorney. A Bankruptcy Attorney would only help you file the Bankruptcy and the last 2 Steps would all be on you to complete again. And regardless if you needed to go through a 3 or 5 year Bankruptcy Plan or not, in most cases, they would recommend you do that. And lastly, they charge a small up-front fee of between $800 – $1,000 but you’d still owe their entire fee on the back end, which on average $6,000 – $10,000.
◦ Second Option is to use a Community Development Corporation, Like Us. We have 2-Payment Options:
‣ One Single Payment of $3,400.00 which saves you about $1,000.00 or
‣ Our Payment Plan which is 6-Payments of $740.00. You would just need to make the first payment of $740.00 to get started and Stop the Foreclosure.
◦ Third Option is to do this completely on your own. It’s not really recommended, but we do have to let you know that you don’t have to pay anyone to do this for you. It can absolutely be done on your own. In our experience, the only down sides to doing it on your own is:
‣ The Bankruptcy Petition is about 185 pages long and you have limited time and you’d need to make sure you get everything right the first time.
‣ But again, if you don’t have the funds right now to pay for assistance, you cand do it yourself.
With that being said, which option would you like to go with?
Homeowner:
Do it on my own.
You:
Ok, I completely understand. If you change your mind or have any questions, please don’t hesitate to reach back out to us.
Homeowner:
I’d like to go ahead and have your help.
You:
Ok, Excellent… Let’s go ahead and get the process started by Stopping this Foreclosure!
Please verify that we have the correct email on file for you. I have your email as <Homeowner’s Email> Is that correct? <Update the Homeowner’s Email if Necessary>
Got it! I’ll Text & Email you the Short Online Application that you can complete in about 5-minutes.
Once you Submit the Application, you’ll be taken to the Payment Page. Click on the Link to make your payment. Once we’ve confirmed receipt of your payment, you’ll get instructions on how to take your Pre-Filing Credit Counseling Course and Next Steps.
Did you have any questions for me?
Homeowner:
Yes <Answer any Questions using the FAQ>
If No…
You:
Ok, one last thing…
Because we are on back to back calls with Homeowners throughout the day, I can’t take inbound calls. You can call us, but in most cases, you’ll have to leave a voicemail.
Once we get you started, you’ll be emailed access to your Client Portal where you can get access to our team by Message, Chat, or Email and also see exactly where you’re at in the entire Foreclosure Assistance Process.
If you have an Urgent Need to speak with us, simply send us a request and we can respond or call you back usually within 15-20 minutes but no later than 24-hours. But we are definitely make it a priority to be accessible to you Monday – Friday from 10AM – 6PM… How does that sound?
Homeowner:
Sounds Good
You:
Ok, Great! We’re looking forward to helping you get this Foreclosure Resolved and will be in touch soon.
Have a Blessed Day!