Prime Equity Mortgage and Alpine Mortgage Services both offer foreclosure bailout loans to customers. There are equity and credit score requirements to quality for the loan. Foreclosure applies to homeowners who are so far behind their mortgage payments that the bank is ready to seize their property, notes Investopedia.Continue Reading
Prime Equity Mortgage requires at least 40 percent equity and a credit score of above 500, with the loan rarely going above 65 percent of the property's value. Alpine Mortgage Services offers loans ranging from $100,000 to $5 million with a 30-year amortization.
Homeowners may fill out an online application to see if they qualify for a foreclosure bailout loan, according to Prime Equity Mortgage.Learn more about Credit & Lending