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NewStart Solutions offered by Nationstar Mortgage

Times can be tough for responsible homeowners these days, and many of our customers are making sacrifices in order to pay their mortgages. Through various hardship assistance programs offered by Nationstar Mortgage, many borrowers have been able to lower their payments to an amount they can afford and stay in their homes. However, these programs are not always enough. If your payment simply cannot be lowered to an affordable amount, Nationstar may still be able to help you avoid foreclosure and even get you up to $7,500 for a fresh start with our NewStart Solutions program.

Perhaps you have decided you don’t want to remain in your home and are unsure of what the next steps should be. Nationstar Mortgage can help you move on with NewStart Solutions one of two ways:

  • Option 1 – Voluntarily transfer the title of your property to Nationstar Mortgage.
  • Option 2 – Sell your home for less than the balance due on your mortgage.

Through NewStart Solutions¹, you can reduce or even eliminate all responsibility to repay the debt on your first mortgage and minimize the negative impact on your credit record. Whether you choose to voluntarily transfer the title of your property or sell your home, avoiding foreclosure is significant:

Question New Start Solutions Foreclosure
How is home ownership transferred? Voluntarily — you transfer title or sell your home Forced — Public auction
Eligible for future Fannie Mae qualified mortgage loan? Possibly in 2 years Up to 7-year waiting period
Relieved of outstanding mortgage debt?² Yes — first mortgage debt
is settled
No — you are still liable
for debt
Get cash for relocation expenses? Yes — $7,500 depending on qualifications No
Have time to transition out of your house? Yes No — little control over transition timeline, with possible eviction

¹Borrower must meet certain requirements to qualify for any of the options/products referenced above. Terms are subject to change. This is an attempt to collect a debt and any information will be used for that purpose. The option you select may have a negative effect on your credit history. There may be other disadvantages, including an effect on your income tax liability. If you have any questions or doubts, you are encouraged to obtain competent advice from an attorney, accountant or other tax professional.

²You may be required to pay a deficiency balance as part of the terms of this program. Pursuit of deficiency balance is not allowed in all states. Cancellation of debt may have tax consequences. Please consult your tax adviser.

Nationstar understands that leaving your home due to a financial hardship is a very difficult decision for you and your family. NewStart Solutions may be the best option for customers who wish to avoid foreclosure and get a fresh start when they were not able to qualify for other workout programs offered by Nationstar.

If you choose to sell your home, Nationstar can help you find a real estate agent who can get your property listed quickly for less than you currently owe. Or, if you are ready to move on and would prefer to avoid what can be a lengthy sales process, you can simply release the mortgage back to Nationstar. You may even qualify for up to $7,500 to help with moving expenses. Just call us today to discuss your options and we'll help you find the solution that's right for you.

Selling Your Home
Nationstar can help you find a real estate agent to list and sell your home for less than you currently owe. If you are already starting the process of selling your home, please ask your agent to provide Nationstar with the following documentation:

  • Listing Agreement
  • MLS listing
  • Sales Contract
  • HUD1 (itemizes everything being paid at closing)

Pre-Requisites
To participate in either of the NewStart Solutions options, you need to provide the following documentation:

Important Note:
Your agent must submit ALL documents through www.equator.com.

Agent Equator Task Guidelines

  • Log in to your Equator account and accept the short sale assignment.
  • After authorization, please provide the borrower's contact and financial information, as well as a hardship letter and other supporting documents.
  • Submit the offer, the offer documents and the supporting documents.

Download the full Agent Equator Tasks Guidelines ›

Equator Screenshot
© 2011 Equator, LLC

¹Screenshots are the exclusive property of Equator, LLC and used herein under limited license for Nationstar training purposes only. Any distribution, reproduction, derivative, description or account of the screenshots is expressly prohibited without the express written consent of Equator, LLC.

©2011 Equator, LLC. All rights reserved.

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