Programs
At The Retention Group, we aim to provide a series of services for the homeowner who has suffered financial hardship. It is our aim to help homeowners maintain an affordable mortgage payment plan and avoid foreclosure.
Here are brief summaries of the federally funded programs and laws that can help homeowners in an attempt to avoid foreclosure, maintain an affordable mortgage payment, and stay in their homes.
RESPA Violations
RESPA is a federal law enacted in 1974 that aims to protect consumers with a mortgage loan. This law regulates the settlement process of real estate transactions & provides borrowers with important disclosures & protections.
Mortgage Reinstatement Assistance Program
The goal of the Mortgage Reinstatement Assistance Program is to help the homeowners who are starting to fall behind on their mortgage payment as a result of a financial hardship.
Principal Reduction Program
The Principal Reduction Program is set up the assist the homeowner who is in the position of owing more on the mortgage than their home is actually worth.
Transition Assistance Program
The Transition Assistance Program is for homeowners who are undergoing a short sale or deed in lieu of a foreclosure program.