If you are on the verge of losing your home to foreclosure there are some options you can take if you act now. It may seem rather gloomy if you are facing the possibility of having the bank foreclose on your home, but it may not be too late. A foreclosure loan could be the [...]
Archive for January, 2008
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It’s Time to Stop Foreclosure and Refinance
Posted by davidguide on January 6th, 2008
Foreclosure and bankruptcy are two of the most traumatic events you may face in life. This unfortunate situation can change your life if you find yourself behind on payments and unable to get ahead. This article will look at some immediate steps you can take to stop foreclosure and refinance your home. You must first [...]
Leasebacks, Land Contracts, and Foreclosure Victims
Posted by davidguide on January 6th, 2008
Private investors can assist homeowners in foreclosure in many unique ways that banks simply can not help with. While many are simply looking for great deals on distressed or foreclosed property, attempting to quickly buy low and sell high, others are willing to allow the previous foreclosure victims to live in the house after the [...]
The Danger of Being Turned Down for a Foreclosure Loss Mitigation Repayment Plan
Posted by davidguide on January 6th, 2008
Possibly the most recommended way to avoid a foreclosure is for the homeowners to work out an arrangement with their lender to get their payments back on track. Almost every news story, article, and foreclosure blog tell foreclosure victims to call their bank as soon as they miss a payment and try to put together [...]
Help for Victims of Foreclosure – The Mortgage Forgiveness Debt Relief Act of 2007 (HR 3648)
Posted by davidguide on January 6th, 2008
The “Sub Prime Mortgage Crisis” has claimed many victims. Subprime adjustable-rate mortgages represented just 7% of all loans, but made up 43% of loans entering the foreclosure process in the third quarter. High powered investors who bought into Structured Investment Vehicles (SIVs) that were backed by high interest mortgage loans could be forced to take [...]
Stop Foreclosure By Using A New Government Program
Posted by davidguide on January 6th, 2008
If your adjustable rate has pushed your mortgage payment to unaffordable levels, you may have some relief. In response to the crisis of people facing default on their home mortgages because their adjustable rate mortgages are no longer affordable, the Federal Housing Administration is coming out with the FHA Secure Refinance Program. The new FHA [...]
Foreclosure – Wait For The Government Or Solve Your Problem Yourself?
Posted by davidguide on January 6th, 2008
As many as 2.5 million families will lose their homes in 2007 due to foreclosure. The White House and congress are working toward legislation that would enable homeowners facing foreclosure to refinance their mortgages. However, if you think you may be in danger of losing your home, should you wait for relief to crawl through [...]
Loan Modification – Learn How To Effectively Save Your Home From Foreclosure
Posted by davidguide on January 6th, 2008
A loan modification is an agreement that is negotiated with your current lender that changes the terms of your current loan. Lenders are willing to negotiate when borrowers are facing financial difficulties and can’t obtain other financing alternatives. You must show the lender why it would be in the lender’s best interest to agree to [...]
How One Woman Took on a Big Lender
Posted by davidguide on January 6th, 2008
625-624= High Interest Rates Here is a story about Liz and Hernando Bodia. They became victims of the system and were paying interest rates that can be branded like a highway robbery. Hernando owned a home and in 1998 became totally disabled. He had about $20,000 in equity in the home and had an un-blemished [...]
Fearing Foreclosure – Walking Away May Cost You More Than You May Know
Posted by davidguide on January 6th, 2008
Many people that are facing foreclosures are frustrated and upset about the current situation. Even though this may be the case many believe that walking away from their homes and letting them go into foreclosure is the answer; however this is not the proper way to handle this situation I would encourage people to deal [...]
