PRIME EQUITY
MORTGAGE, inc.

Your Prime Source For Real Estate Financing 

 
 

Foreclosure Bailout Loans

A Foreclosure Bailout Loan is a mortgage designed to save homeowners form having the properties being foreclosed upon by their banks. It is considered a refinance loan. The homeowner takes out a mortgage to pay off the current loan that is in default status. 

Most foreclosure bailout loans require at least 40% equity in the home and credit scores over 500. While potential borrowers do not fall into this category, there are some that do and can benefit from the bailout programs. 

Foreclosure bailout refinances are based on the value of your home amount owed on current mortgages. Typically the real estate loan is not more than 65% of the value of the property. These loans require an appraisal to determine the value of the collateral. During foreclosure process, charges from attorneys and the bank can accumulate significantly, so it is important to get updated pay off quotes from the bank to compete the foreclosure bailout refinance. 

 

Click here to fill out our Short Form Loan Application


 
 
            
NMLS Co.# 1305125
1024 Iron Point Rd. | Suite 100 | Folsom | CA | 95630
Office 916.458.5982
Toll Free | 866.603.1866
e-Fax | 916.357.7691
Servicing or General Inquiries: clientservices@primeequitymtg.com
QM Products - Serving CA Only 
Commercial Property Loan Products Offered - Nationwide 
 
 

Normal Business Hours: M - F  9:00a - 5:30p PST