Getting Started
Here’s how to get started on your Underwater Refi!
We know how important your home is to you and how serious your situation is. That’s why it is important to quickly find you the best solution. Please review all the material on this website, then follow the steps below in order to get started on your Underwater Refi Principal Reduction Program in a timely manner. Please do not hesitate to let us know if you have any questions.
Step 1 – Get an idea whether you qualify
Go to the “How it Works” page of the website and read the guidelines for who qualifies. Then download the
Homeowner Pre-qualification Worksheetand fill it out as directed. Use this mortgage calculator to calculate the payments on the new loan.
This will help you get an idea if your home is underwater enough and if your debt-to-income ratio is low enough. Keep in mind that this is an estimate only, though. No matter what, it’s best to contact us to make sure you’re taken care of properly. That’s the next step…
Step 2 – Free Consultation
Once you’ve filled out the Pre-qualification Worksheet, give us a call to begin your initial consultation. We need to consult with you to make sure that a Principal Loan Reduction is right for you and that your numbers are within submission guidelines. If you are on time with your payments but experiencing a financial hardship, or are unable to make your current mortgage payments, have a high interest rate, or owe more than your home is worth in today’s market, please start by calling us now to see how we can help you.
We can be reached at (866) 236-4908
Or, simply fill out the Contact Us Form on the right side of this page and we’ll get back to you right away.
Step 3 – Package Submission
Once your consultation is complete and we are confident an Underwater Refi will work for you, you must sign a consulting agreement with RescueRefi.com. This agreement is available on our Downloads page. Fill out this form and fax to us at (408) 796-5464 or scan/email to us at info@rescuerefi.com.
Once our consulting agreement is in place, we will send you the submission forms for your loan package. Fill out, print and sign the forms. Gather the required documentation, then send this material to us all at one time via fax or email (see contact information below). Please do not send anything until you have all the documentation required. We cannot begin processing your application package until all the material is present.
Once the package is complete, we will review it and make sure everything is in order. We will then compile your submission package and deliver it to the Hedge Fund team for processing. After that we wait for the process to occur. Normal turnaround time is 90-120 days. You’ll be notified when your loan is purchased by the Hedge Fund and an appraiser will contact you to visit your house. Review the How it Works page for more details of the process.
Once the appraisal is complete, your new loan amount will be calculated, new loan documents prepared and sent to escrow for you to sign. We will contact you periodically to update you on the progress of your Underwater Refi. Please be patient! This process takes a lot more time than a typical refinance, but the reward is worth it!
Very important – please make sure you continue to make your mortgage payments during this time. We NEVER advise you to miss payments on purpose.
All forms can be sent to us via fax at (408) 351-0222
or scan/email to us at documents@rescuerefi.com.
Please include a cover sheet with your name, phone number,
email address and property address.
Our operators are standing by anytime day or night to take your call. Call our Toll Free hotline or fill out the form to the right to receive a fast response to your inquiry.