Prevent Foreclosures » Help to Avoid Foreclosure

Extension Letter to Prevent Foreclosure

admin — Thu, 11 Nov 2010 17:39:20 +0000

Question: I am looking for an extension letter to prevent foreclosure?

I am in the process of having my home foreclosed. I have been in contact with the lender but need more time to come up with the funds to make things current. In Pennsylvania you are allowed an extension on foreclosure, but I do not know what this "extension letter" to prevent foreclosure is supposed to say.

Answer: A letter of extension is something that is put together by the bank - not by the homeowner.

What you might be thinking of is a Hardship Letter - this is a letter drafted by the homeowner to demonstrate their financial hardship, and is usually accompanied by a financial statement. These letters are normally used for Short Sales (when a bank forgives a certain amount of debt to allow the sale of the house to go through).

There are a lot of options besides foreclosure. To be brief I will list a bunch, instead of trying to explain one or two:

1. Rent out a room (or the whole house) and pay out whatever you owe at the end of the month.
2. Negotiate a forbearance. It is free to you, and all it requires is that you contact your lender and ask for a repayment plan or even absolution of some of the amount past due. Also there are non-profit organizations that will help you negotiate a forbearance – such as the Home Owner Preservation Foundation (HOPF)
3. Refinance for better set rates, and/or a longer loan (40years).
4. Sell via non-traditional means: lease option, wrap-around mortgage, rent to own, five day sale, auction, etc. There are more ways to sell a house besides just using a Realtor.
5. Short sale – selling for less than the amount owed on the mortgage.
6. Sell to an investor - especially someone who knows how to do a short sale. Investors are easy to find - just go through your local classified ads and find the ads that read "I buy homes".
7. Deed in Lieu - Volunteer to give your loan to your bank in lieu of them foreclosing - saves them thousands, and saves you a foreclosure.
8. Declare Bankruptcy - 2nd least favorable, you will get rid of your debt (or be given a tenable repayment plan), and it will stop the foreclosure process, but it won’t erase the mortgage (and as of right now, won’t restructure your mortgage either) and you could have a credit hit almost as bad as foreclosure for 10 years.
9. Do nothing - the banks will take care of everything else! (AKA - foreclosure – the worst credit hit you can have, and seven years before you can petition to have it removed).

Extension Letter to Prevent Foreclosure is a post from: Prevent Foreclosures

How to Get the Best Price for Your Home

admin — Wed, 19 Aug 2009 21:11:40 +0000

Many people who are in foreclosure realize that it is time to move into a smaller and more affordable place. The problem is that they need to sell their homes for as high prices as possible. In this market, buyers have too many homes to choose from and it is hard to entice a buyer to pay the price that you want your home to sell for or that you need your home to sell for. There are some suggestions of what you can do and what buyers are looking for when they are shopping for homes. If you can do them, then you will get the best possible price for your property. Fix what you need to fix but do not over-fix something that will not make much difference to the buyers. Not only you are going to sell your home for more money, you probably will sell your home faster too.

Termites and Dry Rot

If you have termites, then you need to get rid of them. You need to repair the damage to the property. Buyers do not like and will not pay top dollars for homes with termites or water leaks.

Roof

If your roof needs repaid, you will need to do it. A buyer can spot the problem from afar and will talk the price down if they think that they have to fix the roof.

Landscape

A good and attractive landscape can attract buyers that may not even be interested in your home. Clean and spruce up your yard. Fix anything broken that can be seen by anyone walking to your home.

Paint

It is good to have new paint inside and outside so that the home will look newer than it actually is.

Flooring

You might need new carpet, padding or vinyl or linoleum. People like to walk into a room that feels like it is new.

Kitchen

If you do not have new appliances, you might want to make sure the ones you have look new and very clean. You do not want to give buyers impression that they might be buying a dirty home or one that is not well looked after.

Bathroom

You can reglaze your bathtub or shower as well as sink and vanity area. A new toilet or just the toilet seat will go a long way to make an interested buyer feel relieved.

Heating and Cooling System

You might want to clean your vents and repair or replace the condenser unit.

How to Get the Best Price for Your Home is a post from: Prevent Foreclosures

Working with the Mortgage Company

admin — Tue, 18 Aug 2009 22:22:06 +0000

When Lenders Wanted to Foreclose

In the past, when home values were high, lenders would not think twice about foreclosing on homes that were in default. When homeowners could not afford the monthly mortgage payments, the lenders would soon send notices to remind the homeowners to pay up. When they still did not get any responses or payments, they sent foreclosure notices. A few months later, if the homeowners could not pay or come up with solutions somehow, the mortgage companies would proceed with the foreclosure auctions. At the auctions, the banks would set opening bids which are roughly the amounts they were owed.

Lenders No Longer Want to Foreclose (most of the time)

When home prices were high and kept rising, there were hopeful buyers looking for homes that they could fix and sell for much higher values. So, the system worked out well for the banks and the buyers or investors. The problem is that now home values are low and many homeowners are upside down, as in they owe more than their homes are worth.

Lenders know that at foreclosure auctions, they cannot set the opening bids as high as they want to in order to payoff the mortgages owed. Homebuyers are looking for real bargains and they are not going to pay as much as the lenders need to recoup all of the money owed on each home. Also, the foreclosure process costs money. The process is risky for the banks as they might end up getting very little money back, or worse yet, end up with the homes that they cannot get rid of or do anything about. Remember, lenders are not landlords and they are not in the real estate business.

Selling Homes at Auctions

Right now, it costs the banks more to proceed with the foreclosure process than what they are going to get back. So, unless your home is in an up and coming neighborhood with real value, then the bank would prefer to work with you to come up with something that works for them and for you. If your home is in a bad condition and homes around you are not selling well then it is likely that you can work something out with the bank. Many banks have shown that they prefer to have the homeowners in the homes and making some payment rather than have them out if the prospect of selling the home is not good. This is why a short sale is attractive to the bank when a homeowner has no way of being able to afford the mortgage payments. By making the bank see that it is better to have you in the home, you can avoid foreclosure or live rent free for a while.

Working with the Mortgage Company is a post from: Prevent Foreclosures

Walk Away from Foreclosure

admin — Mon, 17 Aug 2009 18:23:46 +0000

Sometimes, when people are in foreclosure and they do not have a way out, they just want to walk away. But, do you know if it is wise to do so or if you can even do it? Can you walk away from all of your mortgage or foreclosure problems? Sometimes, it is easy to do so but you need to know what the consequences are. Even if you are willing to give up your house to the mortgage company and just be gone, it might not be that simple.

Should I just walk away?

Firstly, you should not think about walking away if there is a chance that you can save your home. There may be solutions that you are not aware of. Most homeowners do not know all the options available to them. But, the experts who deal with foreclosure situations daily may know and may be able to suggest something that can help you.

Don't Lose your Famliy Home. 95% success rate in matching you with loan modification firms- Act Now!

If there is nothing that can be done, you can consider walking away from your home and your mortgage obligations. However, you need to be sure that the mortgage company (or companies) is not going to sue you later. It could be years before they decide to sue you. If you just have a first mortgage to worry about, then it might make sense to try to make sure that you are going to walk away free and clear and the mortgage company will not come after you. There are many homeowners that thought their problems were behind them until, after the foreclosure sale, they found out the hard way that the lenders had no been paid off and they wanted money from the homeowners still.

If the lender cannot sue you, then you probably have a non-recourse loan. You need to check with your state what the lenders can or cannot do. State laws vary from state to state.

Should I walk away if I have a second mortgage too?

Usually walking away will not get you free from the second mortgage debt and the second mortgage lender would likely come after you for the money you owe.

Walk Away from Foreclosure is a post from: Prevent Foreclosures

Servicemembers Civil Relief Act (SCRA)

admin — Sun, 16 Aug 2009 20:58:09 +0000

On December 19, 2003, the Servicemembers Civil Relief Act (SCRA) was signed into law by the President of the United States. This section applies to military personnel and it can help them in case of foreclosure. The Federal Housing Administration has lot of information on this Servicemembers Civil Relief Act (SCRA). This law completely rewrites the Soldiers and Sailors Civil Relief Act of 1940, expanding many of the previous law's civil protections.

For example, if you or your spouse is on active military duty, you may qualify for a reduction in your mortgage interest rate. This will lower your house payments. That means, if you currently cannot afford to keep up with your mortgage payments and you will be facing foreclosure pretty soon, then this law can help lower your payments to an affordable level.

Who is eligible for the Servicemembers Civil Relief Act (SCRA)?

The law applies to active duty military personnel who had a home loan prior to enlistment or prior to being ordered to active duty. This includes members of the:

Army
Navy
Marine Corps
Air Force
Coast Guard
and more

Does this Servicemembers Civil Relief Act (SCRA) cover dependents?

In some cases, dependents of servicemembers are covered but not always.

Does the Servicemembers Civil Relief Act (SCRA) protect me against foreclosure?

Although the Servicemembers Civil Relief Act (SCRA) helps prevent foreclosure by lowering mortgage interest rates, it does not totally protect you against foreclosure. However, mortgage lenders cannot foreclose while you are on active duty or within 90 days after military service without court approval. If the mortgage lender can show that your ability to repay the mortgage debt was not affected by your military service, the court may allow them to proceed with the foreclosure process.

Servicemembers Civil Relief Act (SCRA) is a post from: Prevent Foreclosures

How to Sell Your Home Quickly

admin — Sat, 15 Aug 2009 22:48:30 +0000

When you know that you cannot keep paying your mortgage payments and that you are already in foreclosure or are about to receive the foreclosure notice, it may be time to start thinking about selling your home. If you are lucky, you can sell your home for enough money to pay off your mortgage(s). However, since home prices are down, if you owe a lot of money and have no equity in your home, you may not be able to sell for enough money to pay the mortgage company off. This way, you can avoid having to go through foreclosure.

The first thing you should do is to find out how much your home can sell for. If you want to sell your home quickly, you may not have time to do all the research necessary and then list your home. There is much to learn when it comes to selling a home.

If you do want the help of a good realtor who has a lot of experience in your market and understands your needs, then you can find one and then ask him/her anything you want about your home such as:

what is the value of your home
how long is it expected to stay on the market
are there a lot of interested buyers in your area
how much should you list the home for
what the the commission you are going to have to pay
what can you do to your home to make it sell faster and for a better price

A good realtor should be able to answer all of these questions and more.

Find and compare top, affordable listing agents

How to Sell Your Home Quickly is a post from: Prevent Foreclosures

Can you stop foreclosure with filing bankruptcy?

admin — Sat, 08 Aug 2009 19:11:56 +0000

Many homeowners have heard that they can stop foreclosure if they file for bankruptcy protection. It is true that filing bankruptcy is a way to deal with foreclosure. Sometimes, bankruptcy can stop the foreclosure process completely while the homeowner works out a deal with his or her bank. Other times, filing bankruptcy just buys time and delays the foreclosure process. There is no guarantee that filing bankruptcy will help with foreclosure but it always buys some time for the homeowner to figure out what to do. But, there are many problems that can occur when you try to file for bankruptcy protection so you need to think carefully before you file the bankruptcy petition.

A debtor who does not have any assets to worry about and has no money to pay the mortgage payments will likely seek bankruptcy protection. To do this, he or she must petition in the bankruptcy court. There are many steps that he or she must follow. Recently, the laws changed to make it harder for people to file for bankruptcy protection. You can still do it if you really need to.

The Automatic Stay

The automatic stay is what a homeowner wants when he or she files for bankruptcy protection. Once the automatic stay is issued by the bankruptcy court, all efforts to collect debts from the bankrupt debtor must cease. That means, creditors have to stop calling you or trying to collect from you by law. Collection agencies, repo men, etc will have to quit what they are doing and leave you alone until the bankruptcy case is heard in court. The automatic stay also stops any lawsuits pending on the homeowner who has filed for bankruptcy protection. Basically, according to the law, once the automatic stay is issued, the homeowner is safe, at least for a while.

The outcome of filing bankruptcy

Depending on the type of bankruptcy filed, the outcome will be different for different bankruptcy cases. In some cases, by filing for bankruptcy protection, a homeowner in foreclosure can stay in his or her home for years pending the outcome of the bankruptcy case. This is why some people refer to filing for bankruptcy protection as a way to live 'rent free' and avoid foreclosure. But, in the end, it is up to the bankruptcy judge to decide the fate of the homeowner's case. If the homeowner is able to work out a deal with the mortgage company, then he or she may be able to work out a payment plan and continue to live in the home. If not, he or she will have to move out after the bankruptcy case is closed.

If you are serious about filing for bankruptcy protection, it is best to find out more about the consequences first. This book is a great resource to help you decide if filing for bankruptcy protection is right for you. The book will tell you the differences between different chapter of bankruptcy such as Chapter 7 and Chapter 13.

The New Bankruptcy: Will It Work for You?

Can you stop foreclosure by filing bankruptcy

Can you stop foreclosure with filing bankruptcy? is a post from: Prevent Foreclosures

23 Legal Defenses To Foreclosure

admin — Sat, 01 Aug 2009 22:37:24 +0000

When homeowners are in foreclosure, they often panic - most of the time too much. They do not think clearly enough to find real solutions. Without thinking clearly, they fall for scams and become victims of mortgage frauds and other types of scams. What they really need to know is that there are many legal defenses to foreclosure, against banks or mortgage companies. Banks may try to scare them into thinking that there are no way out whereas, in fact, there are many legal ways that homeowners can prevent foreclosure and keep their homes. This book called Legal Defenses To Foreclosure: How To Beat The Bank has 23 legal defenses to foreclosure. If you want a free consultation so that you can talk to someone who knows about how to prevent or stop foreclosure, use the link below.

Falling Behind on Your Mortgage?
Local Experts Are Here 24/7 To
Help You Save Your Home.

23 Legal Defenses to Foreclosure breaks down 23 powerful foreclosure defenses into easy-to-understand chapters.

Each chapter is packed with useful information that you can use directly in court in any state. The book includes:

legal letters,
forms,
motions,
an "Answer" to the lawsuit, and
sample discovery to get damaging information directly from the bank.

It includes:

recommended strategies for fighting foreclosure, and
checklists that make this book easy enough for anyone to understand.

Each chapter incorporates a section of the possible damages available for each defense - including how to cancel the loan and get a refund of all money paid to the lender. Defenses include:

TILA,
HOEPA,
RESPA,
FDCPA,
FCRA and more.

Nevada attorney Ramon Dy-Ragos calls this book a "goldmine." Ohio attorney Thomas Tootle calls it "a necessary desk reference for anyone defending foreclosure - even the most seasoned practitioner."

Buy 23 Legal Defenses To Foreclosure: How To Beat The Bank

23 Legal Defenses To Foreclosure is a post from: Prevent Foreclosures

The Foreclosure Survival Guide

admin — Fri, 31 Jul 2009 14:33:17 +0000

As we have already mentioned in many posts that there are many options that are available to homeowners who are facing foreclosure. However, you have to act fast. The faster you try to get help, the better your chances of getting out of foreclosure are. One of the biggest problem is that most homeowners in foreclosure are in denial about their situations until it is too late. Many homeowners do not tell anyone, do not ask for any help and just ignore the bank during the foreclosure process. Finally, a day or a week before the foreclosure auction, they speak up and ask for help. By that time, they only have very few options available to them, if any. This book called The Foreclosure Survival Guide: Keep Your House or Walk Away With Money in Your Pocket will help you understand what you need to do if you are going to stop the bank from taking away your home.

"Nolo's just published The Foreclosure Survival Guide: Keep Your House or Walk Away with Money in Your Pocket by Steven Elias "discusses the most recent laws designed to help homeowners deal with the crisis and points them to resources (nonprofit housing counselors, government agencies and so on) that may help," says Mary Randolph, Nolo's senior vice president of editorial.

Elias, a practicing attorney, former Nolo associate publisher and current president of the National Bankruptcy Law Project, advises that readers not panic. "Even if the lender does foreclose on the house, the process takes months at the least. You're going to have time to evaluate your options and make smart choices." (Publishers Weekly )

Bankruptcy attorney Elias targets the estimated two million American homeowners who are currently in default on their mortgages. Elias explains how foreclosure works, what options there may be for keeping a home when in default, and what to do when that is not possible. He includes instruction on negotiating a workout with a lender as well as chapters on how to use bankruptcy to avoid foreclosure. Elias's section on fighting foreclosure in the courts helps readers understand the circumstances in which they may be able to delay or stop a foreclosure action. The appendixes provide summaries of each state's foreclosure laws, a glossary, and information on finding and working with lawyers and bankruptcy petition preparers. Straightforward and timely, this is recommended for most public libraries.

Description

Facing foreclosure? Know your options!

According to Harvard's Joint Center for Housing Studies, "the number of homeowners paying more than half their income on housing rocketed from 6.5 million in 2001 to 8.8 million in 2006... The number of homes entering foreclosure nearly doubled to 1.3 million in 2007 from about 660,000 in 2005."

If you're having trouble making your mortgage payments or are already in jeopardyof foreclosure, The Foreclosure Survival Guide compassionately gives you the practical information you need, step by step.

An essential tool for anyone at risk of foreclosure, The Foreclosure Survival Guide provides key information about:

mortgages, including adjustable rate mortgages (ARMs)
short sales
deeds in lieu of foreclosure
judicial and non-judicial foreclosure
credit counseling
liens, and
using bankruptcy to deal with foreclosure.

The Foreclosure Survival Guide gathers all the information Attorney Stephen R. Elias has used to help hundreds of clients over 30 years of practicing law and shows you how to deal with foreclosure.

Like many hardworking people facing foreclosure in this rough economy, you deserve answers to your pressing questions. Thorough and easy to understand, The Foreclosure Survival Guide can help you stay in your home or walk away with money in your pocket.

The 2nd edition is updated with the latest federal legislation and bank-implemented foreclosure-delay programs which offer homeowners even more ways to keep their homes.

Buy The Foreclosure Survival Guide: Keep Your House or Walk Away With Money in Your Pocket

The Foreclosure Survival Guide is a post from: Prevent Foreclosures

Stop Foreclosure Now

admin — Wed, 29 Jul 2009 16:35:41 +0000

Although, there are signs that the real estate market may be improving, there are still many homeowners in foreclosure and many are about to default on their mortgage payments because they have just depleted their savings, having been unemployed for a while. For those homeowners that need help and advice on how to stop foreclosure, there are many resources that can help. This book called Stop Foreclosure Now: The Complete Guide to Saving Your Home and Your Credit, for example, will tell homeowners what to do to stop foreclosure now. There is no time to waste. The sooner you act, the better your chance of preventing or stopping foreclosure.

You can also get a free consultation that can help you explore your options about how to get out of foreclosure and help you fight to keep your home.

Free Consultation

Prevent Foreclosure Today - Immediate Prevention. Most homes can be saved. Fast & Free Advice

There are hundreds of books that show investors how to purchase foreclosure properties, but this is the only book that helps people who are in foreclosure. This is the only book that helps homeowners understand the foreclosure process, and explains practical strategies they can utilize to save their homes.

This book is required reading for anyone confronting foreclosure. Foreclosure is not the end of the world - or even the end of your home, necessarily.

First, know that you're not alone.

Foreclosures affect all kinds of people and all kinds of properties. Like many people faced with foreclosure, you may feel helpless, hopeless, and resigned to giving up your house without trying to save it. If so, cheer up! You actually have some good, solid options to take control of the situation, avoid foreclosure proceedings, and even protect your credit.

Depending on which option you choose, Stop Foreclosure Now will help you:

decide whether your property is really worth saving
figure out how much time you have to respond
negotiate with your lender
use the courts to stop the foreclosure
decide whether bankruptcy is a good option
arrange to refinance your property
sell your property quickly
use military status to stop foreclosure
understand foreclosure laws in all 50 states

Includes all the necessary forms and step-by-step instructions.

Book Description

We’ve all heard the reports. Americans are losing their homes in record numbers, and the housing crisis seems unlikely to subside anytime soon. Foreclosures affect all kinds of people and all kinds of properties. Many people faced with foreclosure feel helpless and resigned to giving up their homes without even trying to save them. The good news is that with the right advice, homeowners can take control of the situation, avoid foreclosure proceedings, and even protect their credit. Lloyd Segal, mortgage banker, attorney, and real estate investor has spent the last twenty-five years helping homeowners save their houses.

Buy Stop Foreclosure Now: The Complete Guide to Saving Your Home and Your Credit

Stop Foreclosure Now is a post from: Prevent Foreclosures

Foreclosure Self-Defense For Dummies

admin — Tue, 28 Jul 2009 15:21:46 +0000

Most people are scared and they panic when they are late on their mortgage payments or they cannot afford to pay them. They know that soon the bank will foreclosure and they will have no home. People are afraid of being homeless. The first thing to remember when you are facing foreclosure or when you think that you may be facing foreclosure soon is to not panic. You need to think clearly and objectively. There are many ways to get out of foreclosure. If you have not received the notice of default or notice of foreclosure, you can prevent foreclosure from happening to you. This book called Foreclosure Self-Defense For Dummies will teach you what you need to do. Alternatively, you can get a free consultation to learn more about your options here.

Behind on your mortgage? Don't Panic- Talk to us. Learn more about your options. We can help.

Facing foreclosure? You need to do three things:

stop worrying about why this has happened to you;
resolve to fight the foreclosure and save your home; and
read Foreclosure Self-Defense For Dummies.

It delivers the knowledge, strategies, and tactics you’ll need to take command of your situation and achieve the best possible outcome.This practical, no-nonsense guide helps you size up your options and increase your chances of saving your home. You’ll find out how to:

delay foreclosure,
form a plan of attack,
negotiate solutions with your lender, and
restore your financial health.

You’ll also find field-tested strategies for dodging the foreclosure trap, getting out from under a house you really can’t afford, and finding help where you might least expect it. Discover how to:

Regain your emotional composure
Confront your foreclosure head-on
Protect your rights
Assess your situation and weigh your options
Touch base with key people who can help you
Stop the financial bleeding
Team up with your lender to find solutions
Work out a refinancing deal with another lender
Avoid quick-fix schemes and scams
Cash out before it’s too late
Recover from foreclosure
Re-establish your credit

Complete with a handy cheat-sheet to help you keep your most important tasks in the front of your mind Foreclosure Self-Defense for Dummies gives you the moral support, commonsense guidance, and expert advice you need to make the best of this difficult situation.

From the Back Cover

Save your home, protect your family, re-establish your credit!

Defend your home from foreclosure — or get out from under it

Are you facing foreclosure? This no-nonsense guide helps you size up all your options and increase your chances of saving your home. You'll see how to delay foreclosure, form a plan of attack, negotiate solutions with your lender, and restore your financial health. Discover field-tested strategies for dodging the foreclosure trap or getting out from under a house you really can't afford.

Discover how to:

Protect your rights
Weigh your options
Team up with your lender
Avoid mortgage scams and pitfalls
Recover from foreclosure

Buy Foreclosure Self-Defense For Dummies

Behind on your mortgage? Don't Panic- Talk to us. Learn more about your options. We can help.

Foreclosure Self-Defense For Dummies is a post from: Prevent Foreclosures

The Homeowner’s Guide to Foreclosure

admin — Sun, 26 Jul 2009 18:32:55 +0000

Sometimes, foreclosure is unavoidable. Things happen to make homeowners fall behind on their mortgage payments such as the falling of home values, the credit crunch, loss of jobs or medical expenses. Unexpected things can happen and sometimes it is beyond the homeowner's control. However, when a homeowners cannot afford to pay his or her mortgage payments, it is a sure thing that the bank will soon start the foreclosure process. This book called The Homeowner's Guide to Foreclosure will give the homeowners in foreclosure or about to be in foreclosure a chance to save their homes. The book will explain everything from the foreclosure process to what to do when there is a chance that you can be foreclosed on.

Foreclosure is the last thing that anyone wants to think about. However, for a growing number of homeowners, it's something that is looming over them if not already on their doorstep. The Homeowner's Guide to Foreclosure provides answers to all your questions as well as step-by-step guidance on what you can do. If you, a friend, or a relative needs to avoid, delay, or stop a foreclosure, remember that the homeowner can take charge.

About the Author

James I. Wiedemer is a licensed real estate agent and has been a practicing attorney in Houston, Texas since 1979. Wiedemer’s experience in Houston’s active market includes buying foreclosures, conducting foreclosures, and stopping foreclosures. The first edition of this title was widely praised for its in-depth coverage of procedures. As a long time Real Estate educator, he is a member of both the Real Estate Educators Association (R.E.E.A.) and the Texas Real Estate Teachers Association (T.R.E.T.A.).

Buy The Homeowner's Guide to Foreclosure

The Homeowner’s Guide to Foreclosure is a post from: Prevent Foreclosures

Fight Foreclosure!

admin — Sun, 26 Jul 2009 00:11:48 +0000

If you are facing foreclosure or you know what you will face foreclosure in the near future, you need to fight back. Foreclosure is a big problem nowadays with many people losing their jobs and finding it hard to make mortgage payments. Even though the government has come up with several plans to help the mortgage and housing industry, a lot of homeowners are not finding the help they deserve and need. They cannot wait for help to come, they need to know what they can do - right now! This book called Fight Foreclosure!: How to Cope with a Mortgage You Can't Pay, Negotiate with Your Bank, and Save Your Home will help homeowners prevent foreclosure, save their homes and save their credit too.

Fight Foreclosure! offers a practical, step-by-step system for taking action to prevent foreclosure on your home before it's too late.

If you're having trouble keeping up with your payments, the worst thing you can do is nothing. This book explores:

all your options,
weighs the pros and cons of each, and
explains the pre-foreclosure process in detail.

Plus, it points out the too-good-to-be-true credit repair offers you should avoid and gives you real, practical alternatives that help you help yourself before it's too late.
From the Back Cover

FIGHT BACK!

With a Take-Charge Strategy for At-Risk Homeowners

Millions of homeowners are at risk of losing their homes. Are you one of them? If so, you need this practical, step-by-step guide to help you take action before it's too late.

In Fight Foreclosure!, David Petrovich offers honest advice on all of your options, weighs the pros and cons of each, and shares smart, practical strategies for lowering your payments and keeping your home. He points out the too-good-to-be-true foreclosure rescue offers you should avoid, and offers real alternatives that worknow!

Petrovich is a mortgage banking insider who understands the loan servicing industry inside and out. And he understands the pressure you're under. Don't worry! You're not alone. Inside, you'll find the calm, professional advice you need to manage your financial crisis, including topics such as:

The foreclosure time-clockwhy acting early is critical
Handling collection calls
Cutting expenses and rebuilding your budget
Negotiating with your lender
Utilizing all your legal defenses
Using bankruptcy to save your home
Selling your home to avoid foreclosure while saving your credit
Finding legitimate help and avoiding rescue scams

Buy Fight Foreclosure!: How to Cope with a Mortgage You Can't Pay, Negotiate with Your Bank, and Save Your Home

Fight Foreclosure! is a post from: Prevent Foreclosures

I Had to Move from My Home to Avoid Foreclosure

admin — Wed, 15 Jul 2009 04:32:37 +0000

To avoid foreclosure, many people decide to move and sell their home. It's common to hear people say that "I had to move from my home to avoid foreclosure." Some people feel sorry for these folks who had to move to avoid foreclosure, but in actual fact, they are the smart ones. They knew they could not keep up with the mortgage payments and if they did not move they would face foreclosure and ruin their credits.

Moving from home to avoid foreclosure

Before the mortgage company can foreclose on your home, it is a good idea to find out how much you will get by selling your home and move to a different home that you can afford better.

By selling and moving, you can get a better price for your home than the price that will be accepted by the mortgage company at the foreclosure auction. As you probably know, foreclosure properties are cheap and many real estate
investors watch foreclosure homes like a hawk to profit off of your misfortune. So, instead of letting the mortgage company win and real estate investors make all the money, you can make the money yourself by selling your home before foreclosure and move with a peace of mind.

How to move to avoid foreclosure?

Before you move, you should find out:

1) What the value of your home is

Get your homes value for free

2) Who is the realtor who can help you

Find and compare top, affordable listing agents

By finding out the value of your home, you will have an idea of how much you will get from the sale to pay back your mortgage company. You can find out the value of your home for free below.

It never hurts to get a second opinion of how much your home is worth. As well as finding the value of your home and how much you can sell it for, you can start finding a good realtor who can help you.

I Had to Move from My Home to Avoid Foreclosure is a post from: Prevent Foreclosures

Will Mortgage Companies Work With You to Prevent Foreclosure?

admin — Wed, 15 Jul 2009 04:28:52 +0000

When facing foreclosure, most people wonder if mortgage companies will work with you to prevent foreclosure. The simple answer is yes. However, the extent of how the mortgage company will work with you depends on the individual mortgage company. Although mortgage companies would rather work with you to prevent foreclosure, in practice, it is quite difficult to come to an agreement with mortgage companies.

Why is it difficult to work with mortgage companies to prevent foreclosure?

While all mortgage companies will say that they would work with you and help you however they can, in practice, they are there to gauge how much you can pay, negotiate higher payments than you can afford and send the rest to collection even without notifying you. Most mortgage companies have many departments dealing with people who are behind in payments. It is not uncommon for the person on the phone with you to say one thing and then you receive something else in the mail.

It is hard to talk to the person with authority at the mortgage company. Almost all mortgage companies will treat you as just another case they have to deal with and their objectives are to get as much out of you as possible and as fast as possible. If you are prepared to pay some parts of your mortgage payments, then they are likely to take it but then you are also likely to get a letter from their collection agencies.

How to work with mortgage companies to prevent foreclosure?

Before you contact your mortgage company and try to negotiate, you should find out about all your options. You can get a free foreclosure consultation or you can do a lot of research by yourself.

Prevent Foreclosure Today - Immediate Prevention. Most homes can be saved. Fast & Free Advice

Then you can prepare your hardship case that will include sending the mortgage company a hardship letter or several hardship letters to explain your situation. If you have talked to your mortgage company and have settled on a solution, you should get them to put your agreements in writing. Don't
trust that things will go as planned until you see everything in writing.

Will Mortgage Companies Work With You to Prevent Foreclosure? is a post from: Prevent Foreclosures

Foreclosure Legal Defense Arguments

admin — Wed, 15 Jul 2009 04:25:40 +0000

There are some foreclosure legal defense arguments that can help you delay foreclosure, prevent foreclosure or stop home foreclosure altogether. If you think you have found foreclosure legal defense arguments, you should contact a foreclosure lawyer immediately to investigate the foreclosure legal defense arguments further. Below are some foreclosure legal defense arguments you may be able to use to prevent foreclosure.

Mortgage company fails to follow foreclosure procedures

Even homeowners in foreclosure have rights. Each state has different requirements and laws that mortgage companies have to follow when they want to foreclose on homes. Notices of foreclosure, for example, are required to be in certain publications for a certain amount of time. Proper procedures need to be followed before the mortgage companies can proceed with foreclosure.

Illegal Interest rates

The federal and state laws have strict rules on the interest rates a loan can have. Some states limit how much interest you can be charged on a loan.

Cancelling home improvement loan

Sometimes, homeowners take out the second mortgage or the third mortgage or home equity loan for home improvement to increase the value of their home. Unfortunately the contractor for home improvement rips him or her off or did very bad job. This can constitute home improvement fraud and you may be entitled to cancel your home improvement mortgage loan.

Truth in Lending Law violation

The Truth in Lending Law is a very important law in real estate and mortgage lending. The Truth in Lending Law is a federal law that requires all mortgage and loan companies to provide borrowers with required information before the loan application is signed. The Truth in Lending Law discloses everything. If you were never provided with the Truth in Lending disclosure, then you loan could be deemed invalid.

Foreclosure Legal Defense Arguments is a post from: Prevent Foreclosures

How to Prevent Foreclosure?

admin — Wed, 15 Jul 2009 04:23:20 +0000

This section of How to Prevent Foreclosure continues from the How to avoid foreclosure section. There are many ways to prevent foreclosure. We have discussed some options to prevent foreclosure, we will discuss more ways to prevent home foreclosure. You can take the steps below to help prevent foreclosure.

Options to prevent foreclosure

Besides catching up with payments, selling your home, letting someone else take over the payments, and renting your home to raise cash to catch up on your loan payments, there are other options to prevent foreclosure below. Alternatively, you can get a loan to prevent foreclosure. There are mortgages to prevent foreclosure especially.

Deed in lieu of foreclosure can prevent foreclosure

When you are facing foreclosure, a way to prevent foreclosure is to give it back to the bank. With deed in lieu of foreclosure, you give the lender back the deed to the house, saving them the cost and time that the foreclosure process would take.

You can refinance your home to prevent foreclosure

If you have equity in your home, you may be able to refinance your mortgage, paying off the lender that put you in foreclosure. But, most people in foreclosure have already looked into this option to prevent foreclosure and it is not viable.

Do a short sale to prevent foreclosure

Short sale is becoming very popular as a way to prevent foreclosure. With the right foreclosure and short sale specialist, you stand a good chance that the bank will do a short sale, therefore preventing your foreclosure. See short sale section.

Work it out with the lender to prevent foreclosure

Depending on the lender, you may be able to work out a payment plan with the lender and avoid foreclosure. You may even get lower payments, interest rates or skipped payments.

Filing bankruptcy to prevent foreclosure

Although filing bankruptcy can stall foreclosure, it will likely not prevent foreclosure in the end. When you file for bankruptcy, you may be able to live in your home for a while longer and the foreclosure process may be halted. But, your situation will not have changed or improved and the lender will fight to resume the foreclosure process. So, in a way, this would not prevent foreclosure and may even make the situation worse.

Free Consultation

You can find out from experts what your options are when it comes to stopping or preventing foreclosure, here is a link to a free consultation.

Prevent Foreclosure Today - Immediate Prevention. Most homes can be saved. Fast & Free Advice

How to Prevent Foreclosure? is a post from: Prevent Foreclosures

How to Avoid Foreclosure

admin — Wed, 15 Jul 2009 04:20:16 +0000

Knowing how to avoid foreclosure can help ensure that you will never face foreclosure. How to avoid foreclosure strategies depend on how much you owe vs fair market value as well as other factors such as how far long in the foreclosure process you are in addition to what other liens there are against your real estate property.

How to avoid foreclosure 101

Below are different ways to help you prevent and avoid foreclosure.

Catch up on your payments

Even if you have received the notice of default and is already in the foreclosure process, you can still avoid foreclosure by catching up on your payments (mortgage payment, tax payments, etc). You may also need to pay fees associated with the foreclosure process to avoid foreclosure. But, unfortunately, for most people, catching up on payments is not an option to avoid foreclosure.

Sell your home to avoid foreclosure

Selling your home is a way to avoid foreclosure. If the real estate market is strong, you may be able to sell at a higher value than the amount you owe the mortgage company and pay off the loan. You will avoid foreclosure by paying off the loan. However if the real estate market is slow or weak, see short sale.

Let someone else take over your mortgage payments to avoid foreclosure

There are many real estate investors who are trained to profit by taking over mortgage payments of people in foreclosure. This may be a way for you to avoid foreclosure.

Rent your property to avoid foreclosure

Renting is a way of making fast money, providing your house is somewhere attractive to tenants. You may be able to obtain fast cash to catch up on your payments, therefore avoiding foreclosure.

Free Avoid Foreclosure Consultation

If you want more information about what you can do and learn all about your options, here is a link to a free consultation.

Prevent Foreclosure Today - Immediate Prevention. Most homes can be saved. Fast & Free Advice

How to Avoid Foreclosure is a post from: Prevent Foreclosures