A Company dedicated to helping you
At Credit Haven LLC, we are committed to helping home owners who are struggling to stay on top of their mortgage.
Whether you are already in default or heading in that direction. If you are a home owner who is behind on your mortgage payments, please contact us soon. There are many possible options for you depends on what you want to do.
We first and far most hope that you don't need us or anyone else and that you can navigate away from foreclosure on your own, but if you can't, then please let us help.
We are not lawyers! We are not CPAs. What we offer is the result of our experience not a result of any academic degree or professional training in law or finances. We encourage you to talk a lawyer and/or a CPA to explore your options.
We are not real estate agents and we will not try to sell your house for you. You might have already seen enough of them who will promise to do so much for you if you list your house with them, invade your privacy with strangers looking through your drawers and closets and then nothing!
We understand that these are tough times for you and will not add to your aggravation.
If you don't want to let us help you, then we ask you a favor. Let someone us help you. The worst choice of all is often to do nothing and let the house go to foreclosure. Having foreclosure on your credit is a heavy toll to pay and will stick with you for years to come.
What we can do for you
This is a list of some of things that we might be able to help you with depending on what you want to do and your individual situation:
- Give you peace of mind and reduce those harassment calls from lenders
- Help you refinance your house
- Help you renegotiate your loan
- Help you repair your credit
- If you want to move on and get a fresh start, we might buy your house from you
How do we do it?
We talk to you first to understand your situation. We study the condition surrounding your house, understand your particular circumstances, agree with you on an action plan then we act fast. We will not charge you a nickel! Not in the beginning or at the end. We make some money in the process and that, combined with the satisfaction of helping distressed families, is what keeps us going.
Why are we doing this?
If you are thinking of keeping your property then helping you means keeping a family home! We have families too and understand how important this is.
If you are thinking of moving on. Then we can help you walk away with dignity. The process has 3 parties to it, You, the lender(s) and us.
-We will help you save your credit from foreclosure and often zero out what you owed to the lenders. Under certain conditions, you might get some cash back.
-We help the lender minimize his losses.
-We walk away with some money and the satisfaction that we helped a family get a fresh start.
Where else in the world have you heard of a win-win-win situation?
Don't get us wrong, we are not saying that it will be easy! We often get in a long and painstaking negotiations with the lender(s) and there is a small chance that things might not work out. Most of times we are able to help the lenders see the light and understand that it is cheaper for them to follow our advice and let you off the hook. In pure financial terms, losing less is winning.
Can we help you keep your home?
If you are a good candidate for refinancing with better terms or loan modifications then yes. There is also a new avenue that is emerging as a possibility. Talk to us and we will explain your options.
There is always a possibility that things might not work out, so we don't promise things that we might not be able to deliver. We built our business on reputation and we rely on that reputation to get referrals by word of mouth.
It is also possibility that an investor buys your property "subject to existing loans" where another borrower takes over the loan payment in return for you signing the deed to him. This investor might approach you to stay in your home while paying him rent. This could happen too, but we have seen this happen more often before the mortgage meltdown than these days.
It is our experience however; that most home owners consider it as part of getting a "Fresh Start " is to move to a new location!
How to get the ball rolling?
You make the first step and contact us. We will explain what we will do for you in simple terms. We promise you transparency in all what we do. No mambo jumbo, no strange jargon and no pressure! If what we offer suits you and you decide to let us work for you, we will ask you simple questions and require you to sign few forms and from there you let us do the rest. If you decide not to let us work for you, we will offer you free advice and our best wishes.
Who holds the note?
With all the changes that happened to the mortgage industry, it is often the case that the financial institute to whom you have been sending your mortgage payment (call it mortgage service entity) is no longer (or never was) your lender. They are just servicing the loan for a fee which means they are an interface between you and the real lender who might be a local/foreign investor. This often complicates the process for two reasons:
1- The mortgage service entity is much less motivated to engage in negotiations
2- If the note holder is a foreign investor who does not care about the current loss and decides to sit on the property instead of selling it for cheaper in the hope for the property to regain its value in a year or two. Here is how their math works, assuming (for example) that your mortgage interest rate is 7% then it will take them 3 years to loose 21% of the value of the loan as opposed to selling it today in an auction or other means where they loose 40%. They are ignoring several items such as property tax, property deterioration and impact of an empty house over the neighborhood and consequently on their property. It is also possible that these foreign investors have borrowed the money from their foreign banks at a lower interest rate such as 2-4%
What other risks are out there?
There many risks associated with the ongoing crisis for homeowners in default:
1- First and far most is when the homeowner does NOTHING. Whether in denial or waiting for a miracle, this is almost a guaranteed path for foreclosure with the worst possible outcome.
2- Trying to go it alone. While this is not always a bad option, once a "Notice of Default" is filed, most lenders are so busy, they will not even talk to the home owners. This way, the time runs out and the property ends up in foreclosure.
3- Like any other industry; there are predators out there. They might be the same predators who got some home owners in trouble to start with. These predators might be feeding on the vulnerability of the home owners.
It is fair to say that the state of California has one of the most strict consumer protection laws. The legislatures of the state of California have several laws to regulate handling homes in default. We at Credit Haven LLC welcome any new regulations since regulations tend to scare away the vultures that have been infiltrating the industry.
Below is a link to the most common scams for the home owners to avoid.