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What is a REST Report and how does it STOP Foreclosures ?
A REST Report helps provide PROOF that Homeowners are qualified to Foreclosure prevention, receive a Loan Modification or helps banks approve Short Sales faster!
By: Todd Alex
The REST Report allows homeowners to know with certainty, whether they qualify for several types of loan modifications such as the Home Affordable Modification Program (HAMP), other types of commonly issued loan modifications, and precise Short Sale terms acceptable for their unique loan.
KNOW YOUR OPTIONS. The REST Report also let's homeowners know what the terms of the modification or short sale would be, BEFORE they apply, AFTER they have applied, or if they have been DENIED, so they can update their modification or short sale application if they are waiting for a decision, or appeal the denial of a modification or short sale with concrete reasons how they should be modified or allowed to short sale.
Its not necessary for the modification or short sale process to be costly, stressful and/or time consuming process if you have the knowledege of the REST Report directly from http://www.restreport.com. Our analysis is conducted using the US Treasury developed "NPV" (net present value) analytics for HAMP, and is built on the same software platform used by the nations largest lenders and banks to determine your mathematical qualification for modification, short sale or foreclosure.
Mortgage Servicers are companies that are hired by investors to "service" mortgages they own. The servicers all work under a contract called a "Pooling and Servicing Agreement," or PSA. And all PSAs require servicers to make decisions related to the loans they are servicing in the best interests of the investors for whom they work.
So, when you submit a REST Report to your lender or servicer, they don't just receive information about you, they also receive an analysis of the financial impact to investors of the alternatives to foreclosure compared with the cost of foreclosing on your property.
If the "NPV" (net present value) Analysis shows that investors would be better off modifying or short selling than foreclosing, we're seeing servicers responding to the report, and offering to modify or short sell loans in more cases than we expected.
Does that mean that submitting an application for a loan modification or short sale along with the REST Report guarantees anything? NO, no one can guarantee anyone that a lender or servicer will modify a loan or allow short sale but the REST Report does help the homeowners chances of success. And as anyone in the banking industry will readily tell you... banks only modify loans when it's in their own best financial interest to do so. THAT IS THE POWER OF THE REST REPORT!
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