ForeClosure
“Things You Can do to avoid ForeClosure”
1. Start a Money Making Opportunity and pay your Mortgage. This is a win situation as it saves your house and creates a income stream for your future. Need Some Ideas ?
2. CALL YOUR LENDER AS SOON AS YOU REALIZE THAT YOU HAVE A FINANCIAL HARDSHIP. Don’t wait , call your lender and tell them about your situation as soon as you know you have a problem. Why ? They have options to help borrowers through Difficult Financial times. They do not want your house. Ask for the solutions available for your specific situation. Be careful in what you say and what you will negotiate. If you are unsure in what to answer, don’t say anything.
3. Avoid Foreclosure Prevention companies. You can do it your self without risking more.
4. Find your original loan documents Does it say they have the right to sell your loan ? find the promissory note and the deed of trust. The Lender must be in possession of the original note to make a claim on the debt. Many notes are sold, many more several times. Subprime lenders dont have the physical note, and or legal right to sell your note. Many home homeowners have used this tactic to delay foreclosure.
5. Your lender may offer you options during the foreclosure process, so open all mail, and answer your calls from them. 6. Call Hud for the latest laws and counseling available (800) 569-4287 or TTY (800) 877-8339.
7. Prioritize your spending
8. Use your assets. sell things on eBay.
9. Beware of unscrupulous lenders wanting to save your house. You may still loose it to them, and or owe them in the process.
10. Take the advantage of knowing what your lenders policies are. Visit their web site, contact BBB and see what complaints have been registered.
11. Prepare a financial statement for your other creditors to get them your back.
12. Demand from your lender the original note and proof of legal sale consented by you.
13. You can attempt a Loan Modification.
14. Short Sale – This is where you sell the house for less than its worth, All houses are in that category now, if you did no know it. This stops the foreclosure process… and has been used as a delay tactic.
15. Bankruptcy. in most states allows you to keep your home, so by discharging your debt, you may be able to aford to keep your home. Many other options , these should get you thinking, please advise a specialist knowledgeable in your states laws, and take advantage of the many free counseling services, legal services, and internet resources.
Some Helpful Links are These are paid links, and contain information I have reviewed and found there detail may be of value to you.
If you dis-agree, you can cancel and get a full refund. so try it, knowledge is power….
(Written By Attorney Includes prewritten Motions) Edit this entry.
Saving Your House from Foreclosure
(How to stay in your house for years !)
(Includes pre-written forms he used to help people)
