Stillwater Diversified

Debt Forgiveness

Debt Forgiveness grew out of a idea our founder had during the early years of the pandemic. As he witnessed people being negatively impacted, through no fault of their own, he realized that by lending homes instead of money Debt Forgiveness could become a reality.

What if you had a relationship with your lender and knew that they were beside you, to support you through any hardship you may face, on your path through life? 

What if you knew, from the very beginning of your agreement, that if you faced a hardship your lender was understanding and Debt Forgiveness was available to you? 

What if you, as a hard working citizen, entrepreneur, self employed individual, non W2 employee or other contributing member of society who doesn’t fit the traditional loan application mold, had the opportunity to own you own home?  

How would this affect your decisions and future success? 

We believe, through debt forgiveness coupled with lending that understand you, that we can begin to be a change in the world promoting success for our clients and ourselves in the process. 

How does Debt forgiveness work? 

When we look at the foreclosure process, the costs involved, the extended periods of time that lapse, the emotional toll to the borrower,  the high probability of damage being done to the house and the long term damage to the borrowers credit… Debt Forgiveness emerges as the answer.

By lending homes instead of money, we are often able to forgive a debt rather than going through the foreclosure process. 

Who is Debt forgiveness available to? 

Debt forgiveness is available to Rent to Own and HomeLend Agreement Clients. 

When is Debt forgiveness available? 

Debt forgiveness is made available when a borrower is 60 days past due.

If Debt forgiveness is not taken advantage of, or no acceptable payment plan is reached within 30 days/90 days past due, we unfortunately may have no other option than foreclosure. 

What happens to my down payment and equity? 

In the event of a foreclosure, money paid toward your loan, as well as any equity, is lost and your credit is severely damaged for up to 7 years. 

With Debt Forgiveness, your down payment and equity is lost, but there is no foreclosure reported onto your credit. 

Through relationship forward lending, we encourage you, as our Client Borrower, to communicate with us if you are facing a hardship. We work along side you, assisting you in assessing whether Debt Forgiveness or selling your home (and realizing any equity) is the best option.