Facing Money Problems

Major life changes such as loss of a job, illness, or divorce can leave a person facing financial difficulty. Taking action right away is essential in reducing the possibility of foreclosure.

• Do Not ignore the problem.
• Call us and let us know as soon as you have a problem. You may reach us Toll Free at: 1-800-308-4961
• Open and respond to our letters.

If you are receiving late notices from Wachter Investments, Inc., you need to contact us and let us know the circumstance that caused you to fall behind on your loan payment. Don’t wait until it is too late. The sooner we can work with you to get you caught up the better.

Each work out program will be reviewed on a case by case basis

Options to Avoid Foreclosure

If you have an existing Real Estate Loan with Wachter Investments, Inc. and feel you may be unable to maintain payments, some options that may be available are:

• Reinstatement
• Repayment or catch-up plan
• Forbearance agreement
• Loan modification agreement
• Reduction of interest rate
• Refinance
• Sale of the property
• Short sale
• Surrender of property
• Deed in lieu of foreclosure
• Foreclosure

Please be prepared to provide specific details about your financial situation.  Below is a list of financial information you should collect before calling us to discuss what options there may be to avoid foreclosure:

• Statements from senior liens showing change in payment amount and/or interest rate
• Income Documentation, such as current pay stubs, income tax returns and bank statements
• Employment information
• List of all monthly obligations/payments with corresponding balances owed on each debt
• Appraisals or broker price opinions showing a significant decline in value
• A written statement requesting a change to the loan

If your home is listed for sale, please provide a copy of your listing agreement/ and/or written purchase offer(s).  If you have had your home appraised, please provide a copy of your appraisal.