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"BEYOND PROMISES TO RESULTS"
Are You or Someone You Know
Like most people, you never thought you would be in this
situation.. you are not alone.
There are many reasons why people fall into foreclosure:
Job loss / unexpected unemployment
Sudden illness or medical emergency
Death in the family
Divorce / loss of second income
Excessive debt obligations
Job demotion or promotion denials
Inability to pay adjustable
interest rate that increases
Unexpected major home maintenance expense
Now is the time to do something
about it! Don't give up and let the bank take your home, ruin your credit, and damage your future plans! I can provide the guidance you need but here are 9 ideas to get you on the right track.
9 Ways to Fight Foreclosure:
Reinstatement - Pay all Arrears* to bring loan current. Unless you get a
windfall of cash, this can be difficult because most people would’ve paid as scheduled if the funds were available.
Forbearance - Lender must approve to
suspend or reduce payments for a brief period but homeowner must resume the full payment at the end of the forbearance period,
plus pay an additional amount to get current on the missed payments.
Refinance - New loan with reduction in
monthly payments. May be difficult to
get approved if payments have been late/missed
Loan Modification - Lender must
approve to modify original loan terms for homeowner.
Sell Property – Homeowner can use
equity to pay Lender or pay difference (shortage) out of pocket
Rent the property – Homeowner must
pay loan current prior to leasing to a tenant
Short sale - Homeowner can apply for
Short Sale approval in hopes that the bank will allow them to sell the house for less than the mortgage balance.
Deed in lieu of foreclosure - “Friendly
foreclosure”. Homeowner offers deed to
bank with less hassle.
Bankruptcy - Bankruptcies are handled by attorneys which makes them costly. Filing bankruptcy can temporarily delay foreclosure but rarely prevents it.
(Hint – All bankruptcy lawyers will advise filing bankruptcy...)
*Arrers – Missed Payments + penalties
There is still hope while facing foreclosure, but don't take on the bank alone! Get a professional in your corner that can guide you through this stressful and complicated process! Complete the form below if you would like a free confidential, no-cost consultation to discuss your available options.
CLICK HERE if you would like more info on Avoiding Foreclosure and a free e-book on