Helping Servicers and Investors
Realize Restructured Residential Revenues

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Helping Avoid Foreclosure for
Homebound and/or Disabled Borrowers

What We Do

R4 provides a highly unique in-home foreclosure prevention solutions.  We are the only provider to focus on home retention services for the homebound and/or disabled borrower.

R4 reduces servicer cost and staff time associated with successful loss mitigation efforts for this segment of borrowers.

 

                                                                                                                                                             

 

 

How We Can Help

An elderly borrower lives alone, in a home with stairs, has heart trouble and diabetes, trouble getting dressed on his own, and difficulty walking up and down his stairs.  He does not routinely collect the mail.  Althought he has the funds to pay his bills, they are not paid on time.  When he collects the mail, it sits unopened.  He misses payment on two phone bills, and his phone is shut off.  He falls 60 days behind on his mortgage.  His servicer is unable to reach him, because his phone is disconnected and his mail sits unopened. 

 

The Impact of R4

If his servicer were an R4 client, we would send a licensed home care professional (social worker or nurse) to his home to check on him.  This professional would find that the man would benefit from homemaker services and a home health aide.  These professionals would help him with bill reminders to collect the mail and pay the mortgage, as well as with ambulation and dressing, provide socialization and potentially other services such as meal preparation and housekeeping.

 

The home care professional will assess the borrower to determine if he qualifies for pension benefits that would cover the cost of homecare services. R4 providers can help the borrower apply for such benefits from their home and, in many cases, provide service without collecting payment while the borrower's application for benefits is being processed.  This is possible because charges will be billed but not collected until after the retroactive benefits check arrives. 

 

A Win-Win Scenario for the Borrower and Servicer

With R4 assistance, the borrower's loan is no longer in default, and the borrower's quality of life is improved.  Because this staff is in the borrower's home, they can complete a checklist evaluating the condition of the home's interior, including needed repairs, and report these back to the servicer.  The servicer has benefitted from cost effective, borrower based home retention solutions.

 

                                                                                                                                                             

 

Preventing Investment from becoming Economic Loss

A veteran's widow is undergoing cancer treatments and is having trouble making her home payments.  She lacks the strength to get to the market and sometimes even to the doctor.  She pays a neighbor to do her grocery shopping.  She has fallen behind on her mortgage payments.  While her servicer has a local customer service center, she cannot get there on her own and lacks the strength to assemble the documents she needs to apply for VA benefits and services that could help her.

 

The Impact of R4

If her servicer were an R4 client, we would send a licensed home care professional to her home to assist her in assembling and completing the paperwork needed to qualify her for physical and financial assistance.  In the weeks following, as her application was being processed, an R4 provider could send in home health and companion services  to assist her with her personal care needs, grocery shopping, and meal preparation.  The funds she used to pay her neighbor can now be applied to her mortgage payment.  This homecare professional could assist her with contacting her servicer and provide reminders for timely bill payment. 

 

 

* Where available, our partner agencies operate under the high quality control standards of the Council on Accreditation. 

Learn more about the Council on Accreditation

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