Your Options
Before the housing crash, the leading cause of people going into foreclosure and losing their homes was them becoming disabled. Because they couldn’t work the banks would simply take their home. Even if they had only 3 more payments left on the mortgage!
Then when the housing market crashed there was a tremendous influx of homes going to foreclosure. Now the most common cause of foreclosure is the banks taking advantage of well meaning people just trying to make a living. Right now almost 1 in 7 homes in the US is in foreclosure. That’s not even counting the commercial real estate market which is even greater!
Why Should The Bankers Keep Receiving Bonuses While You’re In The Process Of Losing Your Home? Yet you don’t have to simply give up and let cold, calculating corporations take your legacy. You don’t have to go quietly into the night. You can fight back and win!
Options For Saving Your Home Thinking About Getting A Loan Modification? Filing Bankruptcy?
Not After This You Won’t!
1) Have a Realtor Sell Your Home:
Selling your home can be a viable option for you. The current market conditions don’t make it easy though. When you speak to a Realtor, they’ll usually tell you to “short sell” your home. As you may have discovered, most homes don’t get sold. Houses simply sit on the market for months without even getting a single offer. Add to this, that the banks are very reluctant to lend money. Also, they make it very difficult for people to even get a mortgage nowadays. So the houses just sit on the market and eventually get foreclosed on.
2) Get a Loan Modification:
Getting a loan modification can be a good option. Yet what the loan modification companies don’t want you to know is that most of the time you won’t even qualify for the programs. Understand that the banks don’t want you to modify your loan. They want your home! More than 45% of people who get a loan modification end up with a monthly payment that’s GREATER than the one that they had before. Also, none of the money that you pay each month goes toward the principal of the mortgage. It all goes towards the INTEREST. So you’ll never pay your mortgage off. Finally, more than 70% of people who get a loan modification are back in foreclosure one year later…FACT.
3) Hire a Bankruptcy Attorney:
Having an attorney file bankruptcy can help you to stave off foreclosure for awhile. The attorney will tell you that they’ll stop the foreclosure process. They want all of the money up front and the average price is $2,500 minimum. Yet it only costs you about $300 to file your own bankruptcy. Then most attorneys don’t tell you up front that you’ll have to appear in court (this would frighten most people). Yet in about 3 months, you’ll have to go to court. This is to keep the bankruptcy valid and to reinstate your mortgage payment.
The attorney then reinstates your exact same mortgage payment and then adds on top of it the amount that you’re in arrears. This is called the “monthly catch up payment”. They generally structure this over a 5 year period. So generally you end up paying a higher monthly mortgage payment than you were paying in the first place.
* For example the average homeowner is $30,000 or more behind in their payments. So they divide 30,000 over 5 years, or 60 months, which works out to be $500 month. This is in addition to your monthly mortgage payment. Then they add in any additional court costs on top of that. So, while they may have stalled your foreclosure date for several months with the proceedings, you ultimately wind up with a higher monthly mortgage payment.
And finally, once the attorney files bankruptcy for you to stop the foreclosure, they can’t do it again for several years.
4) Hire a Loan Modification Attorney:
First of all, loan modification attorneys charge on average $12,000 total for their service. They don’t tell you this up front. And there’s no guarantee of you actually getting a loan modification! Remember the bank’s DON’T have to do it. So you can pay them all of that money and still not be guaranteed to keep your home. Lastly, many loan modification attorneys are now being heavily investigated by the Attorney General’s Office and the Loan Modification Task Force for charging fees and not doing any work for their clients (who would sue them?). As a result, many of their clients still lose their home.
Learn about Our PROVEN Solutions
Contact US
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foreclosurereps.weebly.com © 2011
Then when the housing market crashed there was a tremendous influx of homes going to foreclosure. Now the most common cause of foreclosure is the banks taking advantage of well meaning people just trying to make a living. Right now almost 1 in 7 homes in the US is in foreclosure. That’s not even counting the commercial real estate market which is even greater!
Why Should The Bankers Keep Receiving Bonuses While You’re In The Process Of Losing Your Home? Yet you don’t have to simply give up and let cold, calculating corporations take your legacy. You don’t have to go quietly into the night. You can fight back and win!
Options For Saving Your Home Thinking About Getting A Loan Modification? Filing Bankruptcy?
Not After This You Won’t!
1) Have a Realtor Sell Your Home:
Selling your home can be a viable option for you. The current market conditions don’t make it easy though. When you speak to a Realtor, they’ll usually tell you to “short sell” your home. As you may have discovered, most homes don’t get sold. Houses simply sit on the market for months without even getting a single offer. Add to this, that the banks are very reluctant to lend money. Also, they make it very difficult for people to even get a mortgage nowadays. So the houses just sit on the market and eventually get foreclosed on.
2) Get a Loan Modification:
Getting a loan modification can be a good option. Yet what the loan modification companies don’t want you to know is that most of the time you won’t even qualify for the programs. Understand that the banks don’t want you to modify your loan. They want your home! More than 45% of people who get a loan modification end up with a monthly payment that’s GREATER than the one that they had before. Also, none of the money that you pay each month goes toward the principal of the mortgage. It all goes towards the INTEREST. So you’ll never pay your mortgage off. Finally, more than 70% of people who get a loan modification are back in foreclosure one year later…FACT.
3) Hire a Bankruptcy Attorney:
Having an attorney file bankruptcy can help you to stave off foreclosure for awhile. The attorney will tell you that they’ll stop the foreclosure process. They want all of the money up front and the average price is $2,500 minimum. Yet it only costs you about $300 to file your own bankruptcy. Then most attorneys don’t tell you up front that you’ll have to appear in court (this would frighten most people). Yet in about 3 months, you’ll have to go to court. This is to keep the bankruptcy valid and to reinstate your mortgage payment.
The attorney then reinstates your exact same mortgage payment and then adds on top of it the amount that you’re in arrears. This is called the “monthly catch up payment”. They generally structure this over a 5 year period. So generally you end up paying a higher monthly mortgage payment than you were paying in the first place.
* For example the average homeowner is $30,000 or more behind in their payments. So they divide 30,000 over 5 years, or 60 months, which works out to be $500 month. This is in addition to your monthly mortgage payment. Then they add in any additional court costs on top of that. So, while they may have stalled your foreclosure date for several months with the proceedings, you ultimately wind up with a higher monthly mortgage payment.
And finally, once the attorney files bankruptcy for you to stop the foreclosure, they can’t do it again for several years.
4) Hire a Loan Modification Attorney:
First of all, loan modification attorneys charge on average $12,000 total for their service. They don’t tell you this up front. And there’s no guarantee of you actually getting a loan modification! Remember the bank’s DON’T have to do it. So you can pay them all of that money and still not be guaranteed to keep your home. Lastly, many loan modification attorneys are now being heavily investigated by the Attorney General’s Office and the Loan Modification Task Force for charging fees and not doing any work for their clients (who would sue them?). As a result, many of their clients still lose their home.
Learn about Our PROVEN Solutions
Contact US
disclaimer
foreclosurereps.weebly.com © 2011