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How Can I Stop Foreclosure On My HouseMark Lambie We understand the being in foreclosure is a scary thing. You are probably wondering how can I stop foreclosure on my house. There are many options available when facing foreclosure. They may include reinstating the loan, forbearance, loan modification, mortgage refinancing, sale of the property, deed in lieu of foreclosure, or bankruptcy filing. There are also many services that will work with your to help with your situation. These companies are able to tailor a plan specific to your needs. It is most important to know that time is your worst enemy when facing foreclosure. Even if you are just one payment behind, you should do something rather than wait until you are even more behind. This may sound like common sense but many people fail to do something, and just pretend like nothing it wrong. Seeking help before you are 90 days or more behind on your payments can greatly increase your chances of success. Here are a few tips if you are facing foreclosure. First no not ignore any attempts of contact from your lender specifically letters. If you can not keep up on your payment, call or write to your lender and explain your situation. Be prepared to give financial information, and tell them that you would like to work out an arrangement until you can resume making timely payments. It is also a good idea to keep records of any contact you have with your lender. Keep in mind that any workout plan you agree to with your lender should be realistic, don’t agree to something you can’t follow through with. If the bank is not willing or able to work something out with you consider getting in touch with a loss mitigation service. They will be able to work with you and develop a plan that can save your home. They will work with you one on one and structure a plan that is best suited to your needs. Since everyone’s situation is different contact them to tell them your specific situation. Many have forms you can simply fill out and get a response within hours. For more information on loss mitigation services visit http://www.foreclosure-helper.com for a free foreclosure situation analysis
| | | | RELATED ARTICLES What on earth are Home Equity Loans Home equity loans are one of the most common types of financing for doing improvements on your house. These loans are not necessary used for home improvements but can also be used to simply obtain extra cash. It is essentially a standard loan, based on the equity you have in your house. This is as opposed to mortgage loans which are the loans used to purchase a home. Equity is the value that you have paid on your mortgage loan. Eliminate Debt Fast! How would you like to be debt free in only a few years, including zero mortgage debts! Sounds too good to be true Well check out this easy debt elimination plan from www.nodebtever.com - the plan the Banks DONT want you to know about! First off, you need to do a little groundwork. Those debts took some time to build, so getting rid of them involves a little concentration. Ten Financial Tips for Women On average, women earn 76 cents for every dollar men earn in the workplace. Because women typically spend approximately seven years out of the work force to have and raise children, their earnings are even further curtailed. With lower pay and less time spent in the work force, women are generally left with smaller retirement portfolios, lower company pension benefits and lower Social Security benefits than men. Preventing Foreclosure Proceedings and Understanding Your Options Every year over 8 million homeowners are seeking help preventing foreclosure proceedings. This is a stunning 30 year high. Experts project that by 2006, 12 million homeowners will be teetering on the brink of foreclosure. Many homeowners are not aware that the can prevent foreclosure and save their house. Did you know that you can’t stop the proceedings up to an hour before the auction takes place How to Build a Real Estate Investing Power Team As you continue to read about real estate investing, you will no doubt come across the term power team. What is this power team A power team is a group of people without whom successful real estate investing becomes very difficult, if not impossible. Included in a power team are at least one real estate agent, a mortgage broker, and a real estate lawyer, all of whom will have experience in creative real estate investing. Understanding the Importance of Mortgage Protection Life Insurance Your house is a big investment – probably one of the biggest you’re every likely to make. It is also the place that you and your loved ones call home; a shelter and haven from the outside world. That’s why it is so important to ensure that your home and family are protected in the event of your death. It’s not a topic that any of us like to dwell on, but the sad fact is that should you die and the family are no longer able to afford repayments on the house, they will lose the property and the roof from over their heads. How To Market Your Home For A Quick Sale and High Price Marketing can be one of the most frustrating things to do when you are selling your home without a realtor. Here is a quick checklist to help you: Identity Theft - Is Your Business At Risk More and more business owners are purchasing document shredders then ever before. Mortgage Consumer Bill of Rights This bill of rights was laid out by Franklin Raines, president of Fannie Mae on January 15, 2000. The Mortgage Consumer Bill of Rights is a pledge fof $2 trillion over 10 years to help consumers gain access to home ownership.It also includes an “Open Book” approach to underwriting where customers can see all of the factors that go into evaluating their creditworthiness and the process of applying for a home loan. Plaintiff Funding Plaintiff Funding is a controversial new finance area in which a plaintiff secures funding based strictly on the potential financial recovery from his or her pending legal claim.Similar to securing a mortgage against your home, a plaintiff can receive a cash advance against the potential future proceeds from a legal claim.There are no income or employment verifications and if the legal claim has no financial recovery, then the plaintiff is NOT obligated to repay the money. Home Ownership, Financial Freedom, and Benjamin Franklin 1. ON BENJAMIN FRANKLIN: Rent Late Dont Jump to Conclusions As a landlord, you are financially dependent on your tenants. When a tenant fails to turn in their rent payment on time, you have to worry about making your own mortgage, rent and utility payments. Being put in this situation is frustrating and sometimes angering, but before you take legal action, evaluate the situation. Perhaps your tenant is going through some hard times. Dont want to jump to conclusions, offend the tenant and then needlessly lose their tenancy. Its important that you understand why the rent is late. Adjustable Rate Mortgages Offer Alternatives For Home Buyers When looking for a mortgage to meet your needs, consider these key questions:Is your income expected to increase in the coming yearsHow long do you plan to live in your new homeAnd, which mortgage will provide the lowest interest rate Secondary Mortgage Market Sets the Standards and Practices for Mortgage Lending The Secondary Mortgage Market is responsible for the setting many of the rules and common practices that determines who gets a home loan. The secondary market includes Fannie Mae Federal National Mortgage Association or FNMA, Freddie Mac Federal Home Loan Corporation or FHLMC, Ginnie Mae Government National Mortgage Association or GNMA and a variety of other investment oriented institutions. Do You Have to Be Aggressive to Make Sales A few weeks ago I was onsite at a company that had hired me to train their sales team on how to stop using traditional selling and start using the Unlock The Game™ sales approach. How To Avoid Getting Scammed Listed below are some of the most popular and common scams: 7 Ways to Get to the Truth: When the Sale "Disappears" Youre close, really close, to making a sale. Yourpotential client is in the market for your product or service and youve had a couple of good meetings. Your Home – A Hidden Source Of Financing NC—Your home is more than just a place to hang your hat. In addition to being a source of pride and protection, it can be a valuable source of equity. Start A Business For Under $100 There are a multitude of magazines and websites devoted to the sprit of Entrepreneurs, who by the way provide almost seventy percent of private sector jobs.The dream of almost every employee is to fire their boss, and start a business of their own.The best part about this dream is that it can be accomplished, and most ventures can be started for less than $100. OPM - The Art Of Leveraging Equity lender, hard money lender, private investor or what ever term one uses can be a great source of funds to do real estate transactions and the question of how to find them comes up often! |
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