TRIP has 1 full time Foreclosure Prevention Specialist, Krystina Marable.
We work with homeowners who are behind on their mortgage loan(s), or in danger of becoming delinquent, to assess their current financial situation, and help to understand what options may be available.
TRIP works with homeowners to help prevent foreclosures where possible. We enable the homeowner to determine the best financial solution for their specific situation. Homeowners receive a written action plan to achieve whichever option they wish to pursue.
Unfortunately, keeping the home is not always an option, or a homeowner may choose that they don’t want to keep the home. In those cases, we can also help homeowners understand their options to exit gracefully.
If needed, TRIP can serve as a liaison between homeowners and their mortgage lenders to negotiate reasonable work-out solutions for both parties.
Many times we help homeowners applying for work out programs with lenders to ensure all paperwork is filled out correctly. We provide homeowners with a checklist of all required documentation needed for modification applications, forbearance applications, short sale applications, etc.
Since 2012, TRIP has received funding from the NYS Attorney General’s Homeowner Protection
Program (HOPP) which covers our costs in full. We do not charge any fees to our clients for our services.
Prior to HOPP Funding, TRIP has received funding through the NYS Banking Dept. and Federal NFMC program to cover our costs to provide services.
Good Information to Know for Home Owners Facing Foreclosure:
Lenders with loans on NYS real property are required by Banking Regulations to send out letters when borrowers are 30 days, 60 days, and 90 days delinquent on mortgages.
Many homeowners who get behind are afraid to open their mail! It is VERY important to OPEN YOUR MAIL!
New York is a Judicial State.
This means that NO foreclosure action can be finalize without the involvement of the Court System.
When a Summons of Foreclosure is delivered to a borrower, the borrower has 30 days to respond.
In the Capital Region, as well as other areas in NYS, the County Courts allow the homeowner the opportunity to figure out a retention solution if possible with their lender. These are called Settlement Conferences.
TRIP is part of the HOMESAVE COALITION. Visit their website for additional Information regarding foreclosure in NYS: www.homesave.info.
There are companies out there that take advantage of the desperation of a homeowner facing foreclosure.
If you choose to work with someone other than their lender, proceed with extreme caution if an individual or company:
Calls itself a “mortgage consultant” or “foreclosure service”
Encourages you to lease your home so you can buy it back over time
Collects a fee before providing any services to you
Instructs you to cease all contact with your lender, credit or housing counselors, lawyer or other legitimate experts
Tells you to make your mortgage payments to anyone other than your lender
Requires that you transfer your property deed or title to anyone other than your lender
Tells you that, as part of the deal, you will need to move out of your house for some period of time for remodeling or other reasons
Offers to buy your house for cash at a fixed price that is not set by the housing market at the time of sale
Contacted by Company Claiming they can help save you from Foreclosure?
Interested in Working with TRIP?
Contact Krystina Marable at (518) 272-8289 to answer questions regarding your current situation. Before you call, and if you are able, gather the following:
Your most recent mortgage statement
Any communications received from lender (for example: Summons of Foreclosure)
A recent paystub, or other income documentation