Homeowners

A home is the largest investment most people will make in their lifetime.  The potential loss of that investment can be devastating.  Contrary to popular opinion and media hype, foreclosure is rarely the preference of mortgage holders.  The key to saving your home is early and constant communication with the holder or their representative.  Claro Capital will to explore a variety of workout options to solve short- or long-term financial difficulties.  We are ready to listen to your situation and work with you to get your mortgage back on track.  Even those borrowers who are several months delinquent may have options that provide a fresh start.

Once you are aware of a situation that will affect your ability to make complete, timely payments, call us.  Even if it is a temporary situation that you can resolve in 1-3 months, communicate with us to avoid breach notices and other expensive default practices.  Together, you and our representatives can develop a plan to resolve the shortfall and return your mortgage to performing status in the shortest time possible.

For those customers already in default who are looking to avoid loss of their home, please call or email us to request a qualification package.  This simple document will help you illustrate your current financial situation and help us find you a solution.  Be prepared to fill out the application as completely as possible and return it with copies of your pay stubs, W2s, monthly bills and other supporting documentation.

Foreclosure alternatives are many.  Below is a list of suggested options to avoid foreclosure:

  • Spending changes – consider elimination or reductions to cable providers, internet services, cell phone plans, dining out, charitable donations and other optional expenses;
  • Sale of second homes, recreational vehicles, additional cars, or garage sales
  • Assistance from local assistance programs, family, friends, churches and other charitable organizations;
  • Debt prioritization – make sure your house payment comes before assistance to family members or payments to collection agencies, medical bills and other debts;
  • Workout plans with your mortgage company/servicer – may include payment arrangements, deferrals, forbearance agreements or modifications – not all holders offer all plans – Claro Capital staff can advise which plans are available to you;
  • Refinance – consult your bank or credit union for loan options to payoff your existing home debt and start fresh with a new loan;
  • Sale of home – your home may be sold by you at any time – consult a realtor to determine if this is your best option to payoff the debt and preserve your equity;
  • Deed in Lieu of foreclosure – if you have no way to solve your delinquency, such as permanent loss/reduction of income – contact us to see if giving back your home is an option.

Claro Capital is here to help you.  Please call us Toll Free at 866-302-6858 and let’s discuss your personal situation today!

Additional support can be found by clicking the link below.

http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm

 

 

Washington Homeowners:

If you are in default you will receive the following letter:

IMPORTANT RIGHTS FOR HOMEOWNERS You must respond within 30 days of the date of this letter to take advantage of your rights.
IF YOU DO NOT RESPOND within 30 days, a notice of default may be issued and you
may lose your home in foreclosure.
IF YOU DO RESPOND within 30 days of the date of this letter, you will have an additional
60 days to meet with your lender before a notice of default may be issued.
YOU SHOULD CONTACT A HOUSING COUNSELOR OR ATTORNEY as soon as
possible. Failure to contact a housing counselor or attorney may result in you losing
certain opportunities, such as meeting with your lender or participating in mediation in
front of a neutral third partv. A housing counselor or attorney can help you work with
your lender to avoid foreclosure.
MEDIATION may only be requested on your behalf by a housing counselor or an attorney.
If you filed bankruptcy or have been discharged in bankruptcy, this communication is not
intended as an attempt to collect a debt from you personally, but is notice of enforcement of
the deed of trust lien against the property. If you wish to avoid foreclosure and keep your
property, this notice sets forth your rights and options.

SEEKING ASSISTANCE

Housing counselors and legal assistance may be available at little or no cost to you. If you
would like assistance in determining your rights and opportunities to keep your house, you may
contact the following:
• The statewide foreclosure hotline recommended by the Housing Finance Commission:
Toll-free: 1-877-894-HOME (1-877-894-4663)
http://www.dfi . wa.gov/consumers/homeownershi p/post_purchase counselors Joreclosur
e.htm
• United States Department of Housing and Urban Development:
Toll-free: 1-800-569-4287
Local counseling agencies in Washington:
http://www.bud.gov/offices/hsg/sfh/hcc/fc/index.cfm?webListAction=search&searchstate
=W A&filterSvc=dfc
• The statewide civil legal aid hotline for assistance and referrals to other housing
counselors and attorneys:
Toll-free: 1-800-606-4819
http://nwj ustice .org/what -c lear
RESPONDING WITHIN 30 DAYS
You have the right to request a meeting with a representative of Beneficiary’s Authorized Agent
If you wish to do so, you (or a housing counselor or attorney on your behalf) must request a
meeting with a representative of Beneficiary’s Authorized Beneficiary’s by either:

1. Responding in writing to:
Claro Capital, LLC
Attention: Loss Mitigation Department
8553 North Beach St #208
Keller, TX 76248

2. Calling:
Loss Mitigation Department .
Madison Management Services (Loan Servicer for Claro Capital, LLC)
(866) 302-6858

When you (or your housing counselor or attorney) respond, you should:
• Indicate that you want to meet regarding the delinquency/foreclosure issues;
• Provide current contact information;
• Include contact information for the attorney or housing counselor, if they will represent
you at the meeting
Should you designate a housing counseling agency, housing counselor, or attorney to meet with
Beneficiary’s Authorized Agent on your behalf, you must notify Beneficiary’s Authorized Agent
that one of these parties will represent you and has authority to agree to a loan restructure or
modification on your behalf. You must also provide your representative’s name, and contact
information.

To document your request, a written request for a meeting is recommended. Your request may
be sent by certified mail, return receipt requested, or equivalent private delivery service. The
request must be made within 30 days of the date of this “Notice of Pre-Foreclosure Options” or
you will lose this right to have an additional 60 days to meet and try to resolve your
delinquency/foreclosure issues.

THE MEETING

If you request a meeting, Beneficiary’s Authorized Agent will schedule a meeting between you
and a representative before a Notice of Default is issued. A housing counselor or attorney may
represent you at this meeting.
The purpose of the meeting is to assess your financial ability to modify or restructure the loan
obligation or consider other alternatives to foreclosure. Some possible outcomes of the meeting
• a temporary or permanent loan modification;
• an agreement to conduct a short sale;
• a deed in lieu of foreclosure transaction;
• some other workout plan; or
• no workout agreement.
The meeting may be held telephonically, unless you or your representative requests in
writing that a meeting be held in person. The written request for an in-person meeting
must be made within thirty days of this letter. If the meeting is requested to be held in person,
the meeting must be held in the county where you reside. A person who is authorized to agree to
a resolution, including modifying or restructuring the loan obligation or other alternative
resolution to foreclosure on behalf of the beneficiary, must be present either in person or on the
telephone or video conference during the meeting.
Beneficiary’s Authorized Agent must have at least one “in person” representative at the
meeting. In addition, a person authorized to modify the loan obligation or reach an alternative
resolution may also participate by phone or video conference during the meeting with you.
If a meeting is requested you should be prepared to present information necessary to assess your
financial ability to meet a modified or restructured loan obligation. A housing counselor or
attorney may assist you in identifying/preparing the information necessary, as well as any other
information that may be of assistance in reaching an agreement. In general terms such
information will include:
• current and future income;
• debts and obligations; and
• tax returns for the past two years.

FOLLOWING THE MEETING
The representative(s) of Beneficiary’s Authorized Agent and you or your representatives shall
attempt to reach a resolution within 90 days from the date this letter was sent. If the meeting has
taken place and an agreement modifying the loan or an alternative resolution is not reached,
Beneficiary’s Authorized Agent may issue a Notice of Default 90 days following the date of this
Notice, which begins the foreclosure process.