AhpHelp.com is an alternative to traditional foreclose & evict process.
About AhpHelp.com
By eliminating the significant costs incurred by lenders in a traditional foreclose & evict disposition, AHP recovers more faster for lenders and servicers of nonperforming mortgages secured by sub-$75,000 value homes. Lenders and servicers refer borrowers to AHP along with a target net recovery amount, and AHP then contacts the borrowers, explains the program, and invites them to participate. Borrowers are thrilled with AHP’s program, which allows families to stay in their homes with an affordable lease payment, plus a recorded option to repurchase their home at a fraction of what they previously owed. Our investors are eager to fund discounted short sales with built-in families motivated to stay, pay and then repurchase their homes. Thus, AHP is often able to close in 30 to 60 days, mush faster than a foreclose & evict disposition.
Title
American Homeowner Preservation LLC
Description
Excerpted from the website:
- Homeowners faced with losing their homes to foreclosure need a real and immediate solution. AHP strives to relieve homeowners of their overwhelming mortgage debt through a short sale to keep them in their homes, and allow them to repurchase at a greatly reduced price when ready.
How AHP Began
AHP is the result of a personal crisis. Founder Emily Gomez endured a significant income decrease as a result of the declining economy and fell behind on her mortgage payments. Facing foreclosure, her lender indicated a willingness to accept a short sale. Desperate to stay in her home with her three children, Gomez frantically called her friends and family trying to find someone willing to buy the home and lease it back to her with an option to repurchase. While Gomez did not succeed in finding a rescuer for her own home, the AHP concept was born.
Why AHP Works
The usual response to families facing foreclosure is to do a loan modification for a temporary period. In some cases, these modifications may make the house payments affordable for a short period, but fail to address the drastic drop in the value of the home. The reality is that millions of Americans owe more than their homes are currently worth. Thus, when a lender agrees to drop a family's interest rate from 9% to 5%, the family does receive some welcome payment relief. However, how many families do not want to pay a $150,000 mortgage when the identical house next door is for sale for $95,000. AHP works with a homeowner's lenders to approve short sales, discounting their loans by an average of over 60%. With these steep discounts, AHP can offer families an option to repurchase their homes at a price significantly less than the family previously owed. Thus, AHP creates equity and the incentive for families to stay and pay, preventing foreclosures and preserving neighborhoods.
