Important Questions Our Clients Are Asking…
1. What is Homeowners Advocates? Homeowners Advocates (“HO-Ad”) is a network of real estate specialists and attorneys who are licensed by the State of California and who have decades of experience in resolving problems faced by homeowners. From this network, we build exactly the right team of experts to resolve the particular problem that our client is facing. The HO-Ad team becomes your advocate to protect your interests.
2. What makes HO-Ad the better alternative? Because of our team approach, we can often get the best result from the many options available and get that result at the lowest possible cost. Many other lawyers and loan modification firms may specialize in one type of problem, but are simply not able to assemble a fully licensed and experienced team that can consider all the alternatives—present problems and future possibilities. Our approach helps our clients get the best value.
3. Can I reduce my payments and the amount I owe? Yes, in many cases! But you have to “qualify.” Our team works with you, first to do a Situation Assessment, and then to help you qualify. Clients who can show a “hardship” and whose home has lost value can expect a substantially reduced monthly payment and can often reduce their overall loan balance, too. Your total savings could be in the hundreds of thousands of dollars.
4. Can I save my home? Yes, in many cases! There are several plans of action that may achieve this result. Sometimes legal action is needed, sometimes not. But some of our clients have found they are better served with a short sale option now, expecting to buy again in a couple of years. Because there are many options, we find it is best to review your entire situation before settling on a specific course of action. This approach makes a HO-Ad plan valuable now and in the long run.
5. Am I eligible for benefits even if I have not defaulted on my mortgage? You may be. It depends. Only with a full Situation Assessment can you know which of the many paths will be best for you. That’s why we make a plan before we start, a plan that you are comfortable with and will not have unintended consequences that will hurt you later on. Let’s aim before we shoot.
6. Can I do this myself? Perhaps, but we know from the calls we receive that too often things get muffed and the homeowner can end up worse off. Can you trust that the mortgage company will just give you their best deal? A good plan may help you decide whether you want to attempt this by yourself, and what you can expect.
7. Do I need a forensic audit? In certain cases, a forensic audit will give a homeowner an extra advantage in negotiating a modification. Our team will help you assess whether this approach is a good (and cost-effective) one for your personal circumstances. All problems are not nails, so you may not need a hammer.
8. Can I avoid bankruptcy? 9. Will bankruptcy help or hurt me? There are both advantages and disadvantages to filing for bankruptcy protection. This might help you negotiate a better deal now, but it may also affect you in other ways. Again, having our team help you plan for what you need now and in the future is important. It’s what we do best.
10. Can I save or repair my credit? Yes, in most situations, but it takes some time, and you will need a workable plan. That’s an added benefit of our team approach. Unlike others, we can help you design a plan for savings now and a plan for your future. Let us show you how this can work.
11. Will I be able to buy a house again? Yes, if you make the best possible choices now. In certain programs, you may be able to qualify for a guaranteed loan within one year with a moderate credit score and a modest down payment. In other cases, it may take two years, or longer. This is an important part of what HOAD does for its clients, map a path for a better future.
12. What does it cost to become a HO-Ad client? HO-Ad costs are very reasonable compared with many other providers. We have a small fee for intake and your Situation Assessment. We then build a plan you can afford that is compatible with your needs and plans for the future. If you don’t need a service (like a forensic audit) you don’t pay for one. If you don’t need a lawyer you don’t pay for one. Where you do use one of our network service providers (it’s up to you), we pre-negotiate your fees to make sure you are getting the best value.
13. What about my future? How can I recover? We’re Advocates for Homeowners. We can help solve the immediate problem, and continue to help you recover and get on your feet again. That’s the beauty of having a plan for the future as well as for the present problem. You’ll sleep better and so will your family.