The below options are the only options available to borrowers that refuse to contact Guss Investment Group or refuse to supply Guss Investment Group with the requested documentation.
No Contact and No Documents are the most common category that our borrowers fall under and is the worst category a homeowner can be in. Please note that it is highly likely that Guss Investment Group will incur legal fees and other fees in order to protect its interest in the property should you not contact us as soon as possible. In the vast majority of cases, Guss Investment Group is allowed to legally add these legal fees and other fees to the balances owed on your loan. If you elect to later work with Guss Investment Group and supply all the documents to qualify you for another set of options, these fees will need to be payed off as a high down payment, increased discounted payoff, and/or higher monthly payments. It is in your best interest to contact Guss Investment Group as soon as possible and supply us with all the requested documentation.
Option 1: Do Nothing
Many borrowers elect to to try and ignore Guss Investment Group in the hopes that we will just, “go away,” like many of their previous servicers and note-holders. This is the most common reaction to Guss Investment Group and is the worst reaction a homeowner can have. Guss Investment Group’s company policy is to initiate legal action against all borrowers who do not contact us withing a reasonable time frame as determined by Guss Investment Group. The most common legal action pursued is a foreclosure proceeding with the intent of terminating the borrower’s ownership of the property. Guss Investment Group also pursues lawsuits backed by promissory notes and deficiency judgments if necessary.
Option 2: Full Reinstatement
Up until a certain point in many legal proceedings, borrowers are generally allowed by law to reinstate their loan to its original terms by paying to Guss Investment Group the entirety of the past due amounts on the loan. This amount will include all missed payments, accrued interest, late fees, attorney’s fees, tax, and other fees as allowable by law and your loan documents.. Once the total past due amount has been paid, the borrower is obligated to return to the original payments as described in their loan documents. Failure to make these payments will result in further legal action, interest accumulation, and other fee accumulation as defined by their specific loan documents. Borrowers wishing to make a full reinstatement must contact Guss Investment Group to request these figures.
Option 3: Full Payoff
Borrowers that do not wish to provide Guss Investment Group with the requested documents are not considered for discounted payoffs. If the borrower desires to payoff the loan with a lump sum in lieu of the full reinstatement above, they may pay off the loan in full with a single lump sum payment. This amount will include all missed payments, accrued interest, late fees, attorney’s fees, taxes, and other fees as allowable by law and your loan documents. Borrowers wishing to make a full payoff must contact Guss Investment Group to request these figures.