Prevent Foreclosures » how to stop foreclosure http://www.prevent-foreclosures.net Lets Stop It Before Its Too Late! Mon, 10 Jan 2011 18:23:48 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 http://www.prevent-foreclosures.net http://www.prevent-foreclosures.net/wp-content/plugins/maxblogpress-favicon/icons/favicon-36.ico Prevent Foreclosures Partial Mortgage Payments to Prevent Foreclosure http://www.prevent-foreclosures.net/avoid-foreclosure/partial-mortgage-payments-to-prevent-foreclosure http://www.prevent-foreclosures.net/avoid-foreclosure/partial-mortgage-payments-to-prevent-foreclosure#comments Fri, 12 Nov 2010 14:49:06 +0000 admin http://www.prevent-foreclosures.net/?p=1826 Partial Mortgage Payments to Prevent Foreclosure is a post from: Prevent Foreclosures

]]> Question: Is it true that you can pay partial mortgage payments while your house is up for sale to prevent foreclosure?

I had someone tell me that I should be able to make partial mortgage payments and send my mortgage company a "hardship" letter to keep them from foreclosing on my house while I have it on the market trying to sell. Does anyone know much about this process? My mortgage company is the horrendous EMC Mortgage Co. - it doesn't get much worse than them.

Answer: You need to call your lender and ask them. Some lenders will accept partial mortgage payments and work with you.

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]]> http://www.prevent-foreclosures.net/avoid-foreclosure/partial-mortgage-payments-to-prevent-foreclosure/feed 0 What to do to Prevent Foreclosure? http://www.prevent-foreclosures.net/avoid-foreclosure/what-to-do-to-prevent-foreclosure http://www.prevent-foreclosures.net/avoid-foreclosure/what-to-do-to-prevent-foreclosure#comments Wed, 10 Nov 2010 15:28:16 +0000 admin http://www.prevent-foreclosures.net/?p=1821 What to do to Prevent Foreclosure? is a post from: Prevent Foreclosures

]]> Question: I have missed three payments of my house mortgage, what can I do to prevent it from going to foreclosure?

What are the rules to prevent foreclosure?


Answer: The only way to really stop foreclosure (if you are in foreclosure already) or prevent foreclosure if you are close to being in one is to make the payments. No bank really wants to foreclose and many are dragging their feet on tossing deadbeats out into the street. You're in luck there and maybe by calling the bank and working out a plan they will not have to put your file into their non performing pile. Offer to make at least 1/2 of the arrearage up immediately and they will know you are serious.

The magic number is 3 missed payments and your there now, they might hardline you some but keep in mind they want to get paid without foreclosing. Right now banks are bending over backwards to work out issues with bad loans. DO NOT FILE BANKRUPTCY or you will lose the home and in most cases even sooner than through a typical foreclosure process. The rules to prevent foreclosure were in your loan docs you signed.

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]]> http://www.prevent-foreclosures.net/avoid-foreclosure/what-to-do-to-prevent-foreclosure/feed 0 Good Ways to Prevent Foreclosure http://www.prevent-foreclosures.net/avoid-foreclosure/good-ways-to-prevent-foreclosure http://www.prevent-foreclosures.net/avoid-foreclosure/good-ways-to-prevent-foreclosure#comments Mon, 08 Nov 2010 20:57:44 +0000 admin http://www.prevent-foreclosures.net/?p=1810 Good Ways to Prevent Foreclosure is a post from: Prevent Foreclosures

]]> Question: Need help on a good way to prevent foreclosure?

I have a friend who has lived in her current home for over four years and was sold a Power Option loan, but was told it was an Interest Only loan. They are pretty much backwards on their mortgage and in major credit card/ car loan debt. I just found out that they will be losing their home to foreclosure at the end of the month, and they will file bankruptcy.

Is there a way we can help to keep their home from foreclosing? Any help, or tips is wonderful!

Answer: Bankruptcy should be a last resort. There are many ways to stall foreclosures or even have them thrown out. For example... Simply filing the intent of filing bankruptcy will stall the foreclosure for at least 30-60 days if not more. There are many other things that can be done as well... too many to list here. Check out some books on how to prevent foreclosure.

Foreclosure Survival Guide,The: Keep Your House or Walk Away With Money in Your Pocket Foreclosure Survival Guide,The: Keep Your House or Walk Away With Money in Your Pocket
List Price: $24.99
Sale Price: $14.99
You save: $10.00 (40%)
 

Description

This book is for homeowners who are in jeopardy of losing their houses through foreclosure because they can't pay the mortgage. A thorough, easy to understand, compassionate look at your options, with an emphasis on using bankruptcy to keep the house, if you’re worried about foreclosure...
The Easy Guide to Stop Foreclosures: Must Read Information to Prevent or Stop a Home Foreclosure The Easy Guide to Stop Foreclosures: Must Read Information to Prevent or Stop a Home Foreclosure
List Price: $4.63
 

Description

Even if you aren’t facing foreclosure yet, are you suffering from financial difficulties that may result in it? If so, now is the time to familiarize yourself with the process. Foreclosure can be scary for homeowners, but you can protect yourself by knowing what will happen, what you can do, and your rights...
How To Prevent Foreclosure How To Prevent Foreclosure
List Price: $8.97
 

Description

Americans are in a bad place. Debt is at an all time high. People are borrowing more money, not because of over-consumption, but because they're caught in a bind. It appears that families are incurring debt in order to maintain consumption rather than a lack of spending control...
You Can Prevent Foreclosure You Can Prevent Foreclosure
List Price: $4.99
 

Description

You Can Prevent Foreclosure – How to Protect Your Home and Credit Score!If you are unsure about what foreclosure is and what impact it can have on your life, you need to read this book. If you think that going through a foreclosure is easy, think again...
BUYING REAL ESTATE FORECLOSURES 3/E BUYING REAL ESTATE FORECLOSURES 3/E
List Price: $22.95
Sale Price: $5.74
You save: $17.21 (75%)
 

Description

The latest, most up-to-date information on one of the hottest real estate investment opportunities Savvy real estate investors are ready to take advantage of rising foreclosure rates, but need expert guidance to navigate this profitable market sector...


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]]> http://www.prevent-foreclosures.net/avoid-foreclosure/good-ways-to-prevent-foreclosure/feed 0 How to Prevent Foreclosure http://www.prevent-foreclosures.net/help-with-foreclosure/how-to-prevent-foreclosure-2 http://www.prevent-foreclosures.net/help-with-foreclosure/how-to-prevent-foreclosure-2#comments Wed, 20 Oct 2010 21:27:29 +0000 admin http://www.prevent-foreclosures.net/?p=1702 How to Prevent Foreclosure is a post from: Prevent Foreclosures

]]> Question: Need to know how to prevent foreclosure?

I bought my house from an individual who agreed to hold the note I obtained both the title and the deed to the property. The original owner died a year ago and I have since made out the payments to the "Estate of.."

I lost my income and am diligently looking for work but as of tomorrow I will owe 3 months on my mortgage and the nephew [executor] has said he is going to foreclose.

What are my rights and options? Can I protect myself via bankruptcy? Can I sell? Need help on how to prevent foreclosure fast!

Answer: Contact the people below, they offer Free consultation on any foreclosure related issues. You can ask them about how to prevent foreclosure. They will go over the options you have. They have helped many save their homes.

Facing Foreclosure

Some of the important things that you could do to prevent foreclosure are: –

Know about ‘Loss Mitigation Process’ - ‘Loss mitigation Process’ was initiated by the government of America to help people get out of a Foreclosure situation. This clause has many options, such as -

Loan modification - Under this, the terms of the loan mortgage could be modified for the ease of homeowner and help him get out of foreclosure.

VA loan modification or refunding - Under this option, homeowners loan is bought by the VA (Veterans Affairs).

Short Payoff – this is another option where the lender may chose to buy the property from the borrower so that the latter is able to get out the foreclosure situation.

Deed-in-lieu – in this, those homeowners who need to sell their house in a foreclosure situation (and their property has been on the sale for 90 days), get a repayment plan. This is valid for those who are past due for two or more months in their payments.

How to Prevent Foreclosure is a post from: Prevent Foreclosures

]]> http://www.prevent-foreclosures.net/help-with-foreclosure/how-to-prevent-foreclosure-2/feed 0 How Filing Chapter 13 Bankruptcy Can Save Your Home http://www.prevent-foreclosures.net/avoid-foreclosure/bankruptcy/how-filing-chapter-13-bankruptcy-can-save-your-home http://www.prevent-foreclosures.net/avoid-foreclosure/bankruptcy/how-filing-chapter-13-bankruptcy-can-save-your-home#comments Wed, 02 Sep 2009 21:23:13 +0000 admin http://www.prevent-foreclosures.net/?p=321 How Filing Chapter 13 Bankruptcy Can Save Your Home is a post from: Prevent Foreclosures

]]> Although it is not an attractive option to think about, filing for Chapter 13 bankruptcy can actually help you save your home and avoid foreclosure. Unlike filing Chapter 7 bankruptcy, with Chapter 13, you can set up a repayment plan that will allow you to pay missed mortgage payments over a long period of time such as three to five years. As soon as you file for bankruptcy protection, the lender has to stop the foreclosure process immediately until the bankruptcy case is heard in court. When the case is heard, you will work out a repayment plan that is acceptable for to the lender and you. Therefore, the lender will stop the foreclosure effort and you can keep staying in your home.

Avoid paying unsecured debts

The repayment plan will outline what you have to pay and when. If you have unsecured debts, you may end up paying very little towards them or pay nothing at all. That means, you will have money left to pay your missed mortgage payments.

Contest the foreclosure

Sometimes, you can contest the legality of the foreclosure on your home in the bankruptcy court. You can also contest any claims for costs and fees that are added to missed mortgage payments. A lot of the time, these costs are significantly reduced or eliminated when contested.

Get rid of other liens on your home

If you have a second mortgage lien or third mortgage liens on your home, you can usually get rid of them by filing bankruptcy. Most liens that are wholly unsecured can usually be dismissed.

Bear in mind, though, that filing for bankruptcy protection has lots of consequences so you should think carefully about your situation to make sure that it is what you want to do and what you need to do. If you need help or advice from a lawyer, you can use the service below to find one. The service is free and confidential.

Need a Lawyer? LegalMatch allows you to present your case, and respond only to lawyers who want to help you. It's Free & Confidential.

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]]> http://www.prevent-foreclosures.net/avoid-foreclosure/bankruptcy/how-filing-chapter-13-bankruptcy-can-save-your-home/feed 0 Foreclosure Nation: Mortgaging the American Dream http://www.prevent-foreclosures.net/foreclosure-process/foreclosure-laws/foreclosure-nation-mortgaging-the-american-dream http://www.prevent-foreclosures.net/foreclosure-process/foreclosure-laws/foreclosure-nation-mortgaging-the-american-dream#comments Tue, 25 Aug 2009 19:47:11 +0000 admin http://www.prevent-foreclosures.net/?p=263 Foreclosure Nation: Mortgaging the American Dream is a post from: Prevent Foreclosures

]]> Foreclosure Nation: Mortgaging the American Dream

Foreclosure Nation: Mortgaging the American Dream is an informative book that is very detailed. If you want a better understanding of the current foreclosure crisis, this is definitely a book to consider. If you want help understanding how the mortgage and foreclosure processes work in general, this is also a great book. Olefson has laid it all out in the most understandable format.

The family residence is the backbone of the American economy, the most valuable and enduring asset for those who have achieved a financial foothold. Yet today record numbers of households confront foreclosure. In the next year it is estimated that over two million Americans will lose their homes and almost two billion dollars of wealth will disappear in the process. How did the traditional "American Dream" morph into a nightmare for so many?

Real estate attorney and educator Shari B. Olefson, a recognized expert in the current mortgage crisis and its effects on homeowners, explains how America slipped to the edge of this dangerous stagnation-recession precipice. In plain language that is easily understandable to the average person, she clarifies legal and financial terminology and describes how our country's mortgage system really works. Utilizing real-life lender and borrower interviews, she exposes its intrinsic flaws and often discriminatory practices, from the mortgage application process to the securitization of bundled mortgages by large investment firms. She also provides evidence to show the government's and Wall Street's roles in both causing and solving the problem.

Above all, Olefson offers expert tips, tools, and resources to help you:

  • Choose a mortgage professional and understand what's motivating him or her
  • Decide what mortgage product fits best and when to refinance
  • Get the best fees, interest rate, and service
  • Create your own solutions for navigating the credit crunch
  • Know what to do when you can't afford your mortgage
  • Protect your home if you are at risk of foreclosure
  • Understand how to proceed if you are already in foreclosure
  • Capitalize on emerging opportunities and avoid the scams and mortgage fraud
  • Prepare for coming changes

Foreclosure Nation demystifies the real estate bubble and the subprime mortgage crises that followed. With bold, clear visuals like inventory, absorption, and price trend graphs, Olefson pinpoints exactly when and why experts are predicting a recovery. She also cites statistics that strongly suggest the number of foreclosures will surge in the fall of 2008 and again in 2009, with increased reverberations felt throughout the US and global economies. Foreclosure Nation will prove indispensable to explaining what is happening and guiding readers through.

Whether you are planning on buying your first home, struggling to meet your current mortgage payments, facing foreclosure, or wondering how your investments will be affected, this comprehensive book will assuage the fear of the unknown, empowering you to make wise choices and protect your most valuable assets.

About the Author
Shari B. Olefson, JD, LLM (Fort Lauderdale, FL), is a partner and the head of her office's real estate department at a national law firm.

Buy Foreclosure Nation: Mortgaging the American Dream

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]]> http://www.prevent-foreclosures.net/foreclosure-process/foreclosure-laws/foreclosure-nation-mortgaging-the-american-dream/feed 0 Can you stop foreclosure with filing bankruptcy? http://www.prevent-foreclosures.net/avoid-foreclosure/bankruptcy/can-you-stop-foreclosure-with-filing-bankruptcy http://www.prevent-foreclosures.net/avoid-foreclosure/bankruptcy/can-you-stop-foreclosure-with-filing-bankruptcy#comments Sat, 08 Aug 2009 19:11:56 +0000 admin http://www.prevent-foreclosures.net/?p=194 Can you stop foreclosure with filing bankruptcy? is a post from: Prevent Foreclosures

]]> 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 by filing bankruptcy

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]]> http://www.prevent-foreclosures.net/avoid-foreclosure/bankruptcy/can-you-stop-foreclosure-with-filing-bankruptcy/feed 0 Stop Foreclosure Now http://www.prevent-foreclosures.net/avoid-foreclosure/stop-foreclosure-now http://www.prevent-foreclosures.net/avoid-foreclosure/stop-foreclosure-now#comments Wed, 29 Jul 2009 16:35:41 +0000 admin http://www.prevent-foreclosures.net/?p=101 Stop Foreclosure Now is a post from: Prevent Foreclosures

]]> Stop Foreclosure Now: The Complete Guide to Saving Your Home and Your CreditAlthough, 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

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]]> http://www.prevent-foreclosures.net/avoid-foreclosure/stop-foreclosure-now/feed 0 Can Loan Modification Prevent Foreclosure? http://www.prevent-foreclosures.net/avoid-foreclosure/loan-modification/can-loan-modification-prevent-foreclosure http://www.prevent-foreclosures.net/avoid-foreclosure/loan-modification/can-loan-modification-prevent-foreclosure#comments Mon, 27 Jul 2009 21:44:44 +0000 admin http://www.prevent-foreclosures.net/?p=126 Can Loan Modification Prevent Foreclosure? is a post from: Prevent Foreclosures

]]> There are many ways to prevent foreclosure and loan modification is one way that has helped many homeowners. If you have a mortgage problem and  you are wondering if a home loan modification is the right option for you, then you can get a free, no obligation consultation to find out what exactly a loan modification is, how it can help you and if it is something that is right for your situation.

What is Loan Modification?

Loan modification allows homeowners and lenders to change the terms of a loan in order to help the borrower stay in the home and avoid foreclosure. It is important to note that a loan modification is not a new mortgage. A loan modification is the renegotiation of an existing loan.

With a loan modification, it's possible that a homeowner's:

  • interest rate may be decreased
  • interest rate may be changed from an adjustable to a fixed rate
  • time the borrower has to pay the loan back can be lengthened
  • loan principal may be decreased
  • late fees may be waived
  • second mortgage could be waived or wiped off of the books

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

Worried about Foreclosure? Save your home. You can do it. Click here to find out how.

Can loan modification prevent foreclosure

Can loan modification prevent foreclosure

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