About Shellpoint Mortgage Servicing

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Shellpoint Mortgage Servicing manages residential mortgage loans after they are originated by mortgage lenders. On behalf of our many lender and investor clients, they collect principal, interest, and escrow payments from homeowners nationwide.  As of 2019, they have quietly grown to one of the 20 largest non-bank mortgage servicers.   In California, most major lenders will transfer servicing to a company like Shellpoint once you fall 60 days behind on your mortgage.   This allows them to protect their brand thru the foreclosure process.   For instance, a company like Wells Fargo does not want to have their brand name associated with a foreclosure.  So they will transfer servicing to a company like Shellpoint once you get too far behind.  Now Shellpoint gets to be the bad guy in the process.

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Foreclosure Prevention Options

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Shellpoint participates in a wide variety of foreclosure prevention options.  And Keep Your Keys has helped hundreds of southern California homeowners participate in them.  Some of the more popular options are shown below.

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Forbearance

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An offer by Shellpoint to temporarily suspend or reduce your monthly mortgage payments for a specified period of time.

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- Have time to improve your financial situation and get back on your feet

- Less damaging to your credit score than a foreclosure

- Stay in your home and avoid foreclosure

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Repayment Plans

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An agreement between you and Shellpoint that lets you pay the past due amount, added on to your current mortgage payments, over a specified time period to bring your mortgage payment current.

- Resolve your delinquency
- Catch up on your past due payments over an extended period of time
- Less damaging to your credit score than a foreclosure
- Stay in your home and avoid foreclosure

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Loan Modifications

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An agreement between you and Shellpoint to change the original terms of your mortgage, such as payment amount, length of loan, interest rate, etc.

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- Allows you to make a trial payment plan before permanently modifying the mortgage to make sure you can afford your home after modification

- May reduce your monthly mortgage payments to a more affordable amount

- Less damaging to your credit score than a foreclosure

- Stay in your home and avoid foreclosure

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Short Sales

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A short sale is the sale of a home for less than the balance remaining on your mortgage.

 

- Eliminate or reduce your remaining mortgage debt

- Assistance for relocation may be available

- Start repairing your credit sooner than if you went through a foreclosure

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Deed-in-lieu

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With a Mortgage Release (Deed-in-Lieu of Foreclosure), you transfer the ownership of your property to the owner of your mortgage in exchange for a release from your loan and payments.

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- Eliminate your mortgage debt

- May be eligible for in relocation assistance

- Start repairing your credit sooner than if you went through a foreclosure

- Have flexibility and control over exiting your home—choose to vacate immediately, stay for up to three months (without paying rent), or lease the home for up to one year

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Keep Your Keys

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Keep Your Keys is highly experienced in helping homeowners stop foreclosure.    We have a thorough understanding of the products Shellpoint offers as well as their internal processes to get them approved and completed.   With our 5 star reviews and exceptional customer service you would be hard pressed to find a better partner.   Leave your checkbook at home and contact us today for a no cost, no obligation, appointment to get started.