Stop
Foreclosure
Free Foreclosure Video
Stay in your Home
and Save your Credit
Using
Foreclosure Solutions
Our
objective is to provide homeowners with solutions that they may not be aware of: options
and choices for debt relief, foreclosure prevention and saving
their
home.
The goal is to
work out an
agreement
between the homeowner and the lender that will stop mortgage
foreclosure
proceedings permanently. This allows the homeowner to stay in their
home and protects their credit history.
If
you are only a
payment or two behind and your lender has not hired an attorney to
begin mortgage foreclosure proceedings you may be able to negotiate an
agreement
yourself. Time is not on your side right now. If you don't
have
something worked out within 1-2 weeks, you should get in touch with
a HUD-approved councelling agency
that can use formal business and legal
protocols to your advantage.
We
will assist you in taking the steps and give you options on how to stop
foreclosure. We
will make an offer on the property when the only option left to stop
foreclosure before the trustee sale is to sell. Various
purchase options will be
explained to see which one will have a win-win outcome
including
lease-options, short sale foreclosure, owner financing and
other purchase plans. Other
Resources
Arizona
Revised Statutes 46-241.01 - Short-term crisis
services.
For
help or advice
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Selling
Foreclosed Property in Troubled Times
Sadly,
bank foreclsoures are a way of life these days. It seems everyone and
the
Grandfather have been through mortgage foreclosure procedures, are
going through it, are facing it or
are affected by it in some way. And the reasons home owner require foreclosure help is as varied as the number in trouble
including:
- Declining real
estate values
- Increasing
interest rates because of an adjustable rate mortgage
- Loss of income
due to the loss of a job
- Medical bills
that have driven them into financial ruin
- Problems
associated with unexpected events
There
are also that many books, courses and gurus out there with ways to get
out of debt. And that many again of those who want to take you by the
hand and lead you out. Some really are helpful, and some really do help
but how will you know?
Are
they wolves in sheep's clothing ready to take advange of anyone who
does not take the time to learn as much as they can about the process
of foreclosure in thier state, province or country? Or are they really
who they say they are?
Your
first defense, of course, is to learn as much as possible about the
foreclosure process and
get as much foreclosure info on what
it means to you and your family. And discover every
option available to you.
Every
situation is different and for every problem there is a solution. Some
of them are not easy, some are just too painful to think about and
that's where a lot of homeowners in distress go wrong...getting deeper
into trouble. Right now, this minute you have to:
- Get over the shame
of having a foreclosed home
- Get over the guilt
for allowing this to happen
- Get over the fear
of what might happen next.
You
really can't 'bury your head in the sand'. The problem is there and it
isn't going to go away, especially if you pretend it isn't even there!
You absolutely cannot become paralyzed and unable to take the actions
that need to be taken.
You
must take control of the situation. If you can't or won't or just plain
don't want to then absolutely find someone who
gives foreclosure help...immediately.
Did you see that word...help.
Do not let anyone take over completely
because there will never be anyone else who cares as much about you
losing your home as you do!
There
are real estate investors out there (including us) who assist
homeowners that find themselves behind on their mortgage payments. We
do it because we are good at it, enjoy helping people and we know the
ins and outs of all kinds of real estate problems, the
solutions and
the options that may be available to you....some of which can prevent
foreclosure proceedings altogether if caught before the
foreclosure notices are sent out.
Here
are just a few of the options available to you. Please keep in mind
that before you decide to do something on your own that you must to
your research and learn as much as you can so that you don't become a
victim of another sort.
Every
lender has different policies and not all loans qualify for every
solution.
Partial Claim
Your
lender may be able to help you get a one time
payment from
the FHA- Insurance fund to bring your mortgage current. You would have
to pay it back but it is interest free.
LOAN MODIFICATION
Your
lender may agree to refinance or modify the term(s) of your mortgage to
lower the interest rate and/or extend the term of the loan resulting in
lower payments more info
VA LOAN
REFUNDING / VA Foreclosure Help
The
VA buys your loan from the lender giving them the flexibility to
consider options your previous lender wasn't able to consider.
REPAYMENT PLAN
If
you can prove that you can continue paying off your mortgage
and
are only a few months behind then your lender may approve a repayment
plan where you pay a little more each month until you're
caught
up.
FORBEARANCE
If
you can show that your situation is not your fault and is only
temporary your lender may reduce or suspend your payments for a short
time putting the missed payments on the back of the mortgage.
Short Sale
Foreclosure
If
the only way to avoid foreclosure is to sell the foreclosed
property
then the lender may be able to accommodate us with a short
payoff. (more info)
DEED-IN-LIEU OF
FORECLOSURE
If
you just can't make any more payments and cannot find a buyer for your
property the lender may accept your property instead of
foreclosing. There can be no other leins or mortgages on the property
and your lender may put the transaction on your credit report which is
just as bad as being foreclosed on.
Private Contracts
Zero Down Payment
with Owner Carry-back
We
have hands-on
experience with almost every situation that can be
imagined.
Call us
for a Free Consultation
623-487-5448
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New Bankruptcy
Law
Makes it Harder to Stop Foreclosure
By
Herbert Addison
On
October 17, 2005 President Bush's sweeping bankruptcy reform law goes
into effect forever changing the rules of debt collection in this
natiion. Consumer advocates and the public appear to be completely
unaware of the total and complete victory of the creditors under the
new legislation. This article opens the door to the Trogan Horse so
that consumers can prepare themselves for the worse.
The
most important aspect of the bankruptcy code was
the œautomatic stay provision. This allowed
consumers to file for bankruptcy at anytime during the creditor's
collection process putting an immediate stop to all contact and
collection activities from the creditor. The new law requires that a
debtor receive credit counseling from an approved non-profit credit
counseling agency for 180 days prior to filing Chapter 7 or Chapter 13
bankruptcy.
While
this may sound benevolent, a much closer look at the practical effect
of this provision reveals the crafty peeling of the debtor's rights.
The 180 day requirement is to provide the credit counseling agency the
opportunity to work out payment plans with creditors. However, during
this same period of time the creditor is not restrained from collection
efforts. For example, Margaret is a homeowner in Jacksonville, Florida
and is six months behind on her mortgage. As a rule, credit counseling
agencies only work with credit card companies and have little or no
training with dealing with mortgage companies.
After
receiving foreclosure papers, Margaret goes to see her attorney to file
for bankruptcy and is told that she must first seek credit counseling
before filing for bankruptcy protection. Meanwhile, the foreclosure
proceeds on schedule and a sale date is set 120 days later. However,
Margaret still has not completed her 180 day requirement. What will
happen to Margaret's home? That's right! The home will be sold and she
cannot stop the sale by filing bankruptcy.
This is
the most sweeping shift in debt collection in the past 50 years.
Margaret's only hope will be to work out a repayment plan or a loan
restructure with her mortgage company. This is a process called loss
mitigation and is explained in great detail to consumers in our new
book, How to Save Your Home, ISBN#09753754-0-7, $19.95, SYH University,
LLC, 2005 which is sold at Amazon.com.
Loss
Mitigation works because lenders lose an average of $28,000 to $50,000
per foreclosure nationwide. It is a myth that the lender wants your
home and makes a profit off of foreclosure. A lender has to pay
attorney fees, court and collection costs, maintain fire insurance,
hire a real estate professional, repair structural and other damage to
the home, and pay property taxes. The homeowner can work out an
agreement with the lender in over 90% of cases. Our company has
provided housing counseling service to thousands of homeowners and loss
mitigation absolutely works.
In
conclusion, it is up to the consumer to educate and prepare themselves
for worse case scenarios. How to Save Your Home is an excellent
training tool and will teach homeowners how to protect themselves under
the new bankruptcy law. Most Americans do not have health or disability
insurance and are vulnerable to job layoffs because of a stagnant
economy. Who amongst us is immune to heart attacks, business failure,
strokes, law suits, tax liens or other challenges that life sometimes
presents. One pay check is literally what separates many families from
home security and despair and the new bankruptcy law will severly
punish those who slip behind on their mortgage payments.
---------------------------------------------------------------------------------
Herbert
Addison, JD, CHC is a Certified Housing Counselor and a member of the
Virginia Association of Housing Counselors. Mr. Addison is co-author of
the new book, How to Save Your Home, and has helped thousands of
families to save their homes from foreclosure sales.
Article
Source: http://EzineArticles.com/?expert=Herbert_Addison
For
help or advice
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Page
Foreclosures: Did
You Know....
- The Mortgage Foreclosure Sale
CLOCK starts ticking when the Bank records a "Notice
of Default.
- You
only have between 30 and 120 days from the first filing of the "Notice
of Default" until your foreclosure home can be sold at Public Auction
(varies by
state).
- A
Notice of Foreclosure is on the borrower's credit rating for years
- You
immediately have difficulty in getting a mortgage refinance or equity
line of credit
- Some
Banks may hold you responsible for their loss "deficiency judgment" and
file a judgment against you
- You can
lose all your home equity
- If the
bank loses money they usually send you a 1099 which may be TAXABLE
income. (Check with the IRS tax rules or your CPA for more info
- The
best
time to take action is when you realize you're heading for
trouble, not when you are knee deep in it.
For
help or advice
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