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Stop Foreclosure Blog
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My blog shares the best ways to stop your foreclosure fast and save your credit so you can quickly bounce back. I also interview foreclosure, short sale, and bankruptcy experts who answer reader questions and provide sound advice.
Recent Posts Tagged With 'foreclosure'
10 Questions on the Sinking Housing Market
In recent years the real estate market has been in a nose dive. The average U.S. home price doubled between January 2000 and April 2006, according to the First American Loan Performance index. Since then, the average home price has fallen 30%. If y...
1 in 4 Homeowners Are Underwater
The number of U.S. homeowners who owe more on their mortgages than what their homes are worth has ballooned to 23%, threatening the chances of a near term correction to the housing market. According to First American CoreLogic, a real-estate informat...
Obama’s Home Loan Relief Plan
In March 2009, President Obama introduced a plan to use government money in order rescue families that are having trouble to paying their mortgages. Essentially a mortgage bail out. Called “Making Home Affordable,” the program is expe...
Philadelphia foreclosure-diversion program
The City of Philadelphia has experienced some success from its pilot Foreclosure-Diversion program, and many other cities are beginning to take notice and considering implementing this program in an effort stop rampart foreclosures that are destroyin...
How Not To Invest In Real Estate: My Story of Financial Ruin (Part 1 of 3)
I actually think my story will be herald as the dumbest real estate investment of all time. But I’ll let you be the judge....
Stop Foreclosure in Texas - Take an Active Approach to Foreclosure
One of 10 homeowners in Texas faces the risk of a mortgage risk default or an imminent foreclosure, according to Mortgage Bankers Association of America. A foreclosure can be a dreadful, devastating and stressful thing to happen. With the law being o...
Stop Foreclosures in Michigan - Will You Let a Foreclosure Destroy You?
Save The Dream is the proud initiative the Michigan State Housing Department Authority and it is one of those states that takes active interest in trying to sort of the financial problems homeowners might face due to sudden events that set them back ...
Stop Foreclosures in California — Don’t Let Your House Slip From Your Hands
When homeowners face foreclosure due to myriad reasons like loss of job, disability/injury, ill health, unexpected expenses, marriage or even relocation, they inevitably have to battle the reality of a foreclosure. It is necessary for you to be aware...
Stop Foreclosures in Florida — Helpful Points to Help You Get Started
Florida has one of the highest rates of foreclosure in the country. If you are currently living and looking to stop foreclosure in Florida, it is then critical for you to know the process you need to undergo. The foreclosure process followed in Flori...
How Much Time Do You Have Before Being Evicted After the Foreclosure Sheriff Sale?
If you are a homeowner facing foreclosure, then naturally you are concerned about losing your home. You are also worried about being evicted after the sheriff sale. Chances are that you have been threatened by your lender and other experts, telling y...
6 Ways To Sell Your House Fast To Stop Foreclosure
For some homeowners facing foreclosure, selling is the way to go. The reasons are varied and each homeowner must decide which route is best for their financial situation. If the sale is handled in a timely manner and produces enough revenue, then t...
Bankruptcy Vs Foreclosure: Which Is Better?
Decision making is something you just can’t avoid no matter what kind of situation you are in. Tough decisions are even harder to make. Sometimes, as a homeowner, you might be in a dilemma as to what to choose among bankruptcy and foreclosure of pr...
How Foreclosures or a Short-sale Can Rip Your Credit Rating To Shreds
Irreparable damage is done to your credit rating when you experience a foreclosure or some of the other related possibilities– not as bad as foreclosure or bankruptcy, but are damaging nevertheless. However, most of the agencies and people of less ...
6 Incredibly Accessible Options to Avoid Foreclosure
The prospect of losing your home could be quite an overwhelming and sad situation for any homeowner, but is now increasingly common with many homeowners who are unable to pay the mortgage payments. The reasons for not being able to make the payments ...
3 No-Brainers To Save Your Home From Imminent Foreclosure
Foreclosure, at best, is something every homeowner wants to avoid. It also happens to be an extreme solution to a problem that could have been solved in a much better manner if you could act on it swiftly, armed with necessary and sufficient informat...
10 Fatal Mistakes Home Owners Make
A home isn’t just bricks and mortar for many people. It is an extension of their dreams, a mark of achievement and a matter of pride. Still, some homeowners do mistakes; fatal mistakes that can cause their homes to be taken away from them. I, for...
Lender Workout Solutions - Deed-In-Lieu of Foreclosure
This solution differs from the other workout solutions because in this solution you do not retain the property. In other words, you will have to move out of the home. This solution is similar to the results of a foreclosure, but instead of the lend...
Lender Workout Solutions - Loan Modification
You can also contact your bank and request a loan modification. This is where the lender adds the delinquent amount to your loan balance and adds additional time on your loan. The bank will consider your total delinquency amount to include attorney ...
Lender Workout Solutions - Repayment Plan
Like a regular Forbearance Agreement, this agreement allows you to re-pay your delinquent amount over time. You will be required to provide your recent financial information and an explanation for your delinquency. However, in this work-out solution ...
Lender Workout Solutions - Forebearance Agreement
A Forbearance Agreement or Repayment Plan with your bank is the most common solution for avoiding foreclosure. This solution requires that you contact your bank and ask for a Forbearance Agreement. Just because you ask for a Forbearance agreement doe...
Lender Workout Solutions (Blog Series)
Over the coming days I will go over some lender workout solutions. A “Workout” solution is a one that allows you to workout a solution with your bank. There are two types of workout solutions: The first type of solution is where you keep your ho...
Cost Cutting Tips To Prevent Foreclosure
Put Some Money Away for a Rainy Day Whenever it is possible, put money away in the event “life” happens. The experts say we should have an emergency fund, at least 6 months of income saved, that you could utilize, in order to avert financial disa...
Foreclosure Self Assessment
Before you charge ahead into stopping your foreclosure, be sure you take an objective look at your particular situation. Avoiding foreclosure (or at least saving your credit) largely depends on your income and whether or not your circumstances are ...
How To Avoid Foreclosure Scams
Be careful to avoid foreclosure rescue scams. Companies that promise to rescue you from foreclosure may solicit you. Some of these companies are legitimate, but some will try to trick you into signing your home over to someone else or other disadva...
How Your Lender Views Foreclosure
Your lender does not want to foreclose on your loan. By foreclosing the lender accumulates the following expenses: Loss of Mortgage payments while you live in the home Legal Expenses (estimated at $10,000 a month) Loss between the mortgage amount...
The Process of Foreclosure
Usually after 3 months of non-payment, your lender will issue you a Notice of Default, likely taped to your front door or delivered by mail. If you do not bring the loan current within the time specified in the letter, then the lender will begin the ...
