RECOVER FROM LOSS
  
 
    "Don't ask for a light load, but rather  ask for a strong back."
                                                          Anonymous

STOP FORECLOSURE TIPS



"Happiness resides not in possessions and not in gold; the feeling of happiness dwells in the soul."
                                                                                             Democritus

                           

                                             

                                     


                                                           


                                                                   FACING FORECLOSURE OR BANKRUPTCY?

Job loss may result in loss of credit (bankruptcy or foreclosure) and ultimately, you need to be aware of your rights and available alternatives to foreclosure and loss of your home.  Job loss frequently creates financial hardship that leads to bankruptcy.  "Bankrupt" is no longer synonymous with "deadbeat" or "irresponsible".  In the current economic climate bankruptcy has become a valuable and necessary  tool 



                         "HOPE IS LIKE A BIRD THAT SENSES THE DAWN AND CAREFULLY
                                                  STARTS TO SING WHILE IT IS STILL DARK"
                                                                                   Anonymous

THIS PROGRAM WILL CHANGE YOUR LIFE.               
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FACING FORECLOSURE?? 

 

YOU OWE IT TO YOURSELF TO CHECK THIS OUT

 

 

  

STOP FORECLOSURE TIPS 

 

As job losses continue to rise, foreclosures climb.  If you find yourself in this unfortunate situation, do not throw up your hands, shrink back and give up.  Do not meekly allow foreclosure proceedings to take your home and mar your credit.  There are alternatives and you can stop foreclosure.   This is the time to take action and explore the available options to avoid foreclosure and save your home and credit.

 

First, you must do some research to learn about the foreclosure process in your state.  The process is different in each state.  In some areas, the process moves quickly.  The sooner you arm yourself with information and take action, the greater your chance to avoid foreclosure.

 

Depending on the loan and your individual circumstances, you may qualify for a loan modification.  Contact your lender and find out if you meet the criteria.  Under President Obama’s plan to keep American homeowners out of foreclosure, this may be an excellent option.   

 

Another course of action may be a deed in lieu of foreclosure.  This option does not allow the homeowner to remain in the house.  A deed in lieu of foreclosure conveys the property to the lender and avoids the costs, time and effort involved with foreclosure.  Of course, this requires acceptance by the lender.  This will stop foreclosure.

 

If the loss of income is a temporary situation, the lender may agree to a Forbearance Agreement.  The borrower agrees to keep the mortgage payments current going forward.  It also provides for repayment of the delinquent payments and accrued fees.  This option would only be beneficial to borrowers in a specific short term situation.

 

Another possibility is a short-sale.  This requires the approval of the lender and allows the borrower to accept a contract on the property for less than the balance owed on the mortgage.  Lenders now consider this a serious option and will stop foreclosure.

 

The last resort is bankruptcy.  Bankruptcy will stop the foreclosure proceedings and allow time to try to work out a plan to keep the home.  For some borrowers, this is the right option, but it is a complicated process and requires the advice and assistance of an attorney that specializes in bankruptcy law.  It is important to note that bankruptcy adversely affects your credit score and remains in your credit history for several years.

 

Overall, the best option in this negative situation is a refinance or a mortgage modification.  It is extremely important that you contact the lender at the first sign of a problem making the mortgage payment.  Believe it or not, the banks do not want to own your home.  It is advantageous to the lender to work with borrowers and avoid foreclosure.

 

 

                                            
MORTGAGE MODIFICATION

This is an option that has helped many homeowners during this difficult economy.

LEARN MORE ABOUT MORTGAGE MODIFICATIONS HERE!



FORECLOSURES CONTINUE TO RISE

According to the Mortgage Bankers Association, the number of foreclosures will continue to rise.  This Association has predicted that 1 out of every 200 homes will be foreclosures and every three months "250,000 new families enter into foreclosure".  If you find yourself unable to pay the mortgage, you must take action.   This is not the time to procrastinate and hope for the best.

  


FORECLOSURE

CHECK THIS OUT!

There is a new web site that offers FREE assistance and 'width' is a duplicate attribute name. Line 1, position 36. information 'width' is a duplicate attribute name. Line 1, position 36. to borrowers that may qualify for assistance. 

Can you do anything about an impending foreclosure?  Maybe - you may qualify for special forebearance (a repayment plan based on your financial situation), mortgage modification or a partial claim.  First, do not avoid calls from the lender.  Next, do some research on foreclosure.   

    
    
    











                         
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"Man is not made for defeat.  A man can be destroyed, but not defeated."
                                               Ernest Hemingway
                

                     
                         
                                              
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