|Real Estate Information|
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
As a homeowner facing foreclosure there are various options available. We will briefly examine some of the most popular options.
Reinstate the loan – Ideally you would like to be able to pay the loan payments that you are behind on and bring the loan current. These costs would include whatever owed on the missed payments, and any additional late charges or attorney fees. This is the most efficient way when preventing foreclosure proceedings.
Get forbearance – When a lender forecloses on a property it is expensive for them. They would rather work out some sort of arrangement than proceed with the foreclosure. Talk to your lender and see if they are willing to work out a plan that outlines a way to get current on your mortgage. This agreement will vary depending on the situation and the lender. Some things they may be able to help with are a temporary reduction or suspension of your payments. If you have a FHA VA or other government loans you may qualify for even more options.
File for Bankruptcy - Some attorneys may advise a homeowner to file for bankruptcy. This is a legal way to avoid the foreclosure process. However the process may still continue and you will be stuck with bad credit for 7 years. You should consult your attorney about the option of bankruptcy.
Sell your home – The problem with selling the home is that if you list it with and agent, and it still is not sold the lenders does not care, you are still on the foreclosure clock. The best way to go about selling the home in this situation is to contact a real estate agent that is familiar with foreclosure investing. They may be able to put you in contact with investors that will be happy to but your home. Preventing foreclosure proceedings can be as easy as getting in contact with a foreclosure investor.
Deed in lieu if foreclosure – This is when you would voluntarily give the house back to the lender. The lender is not obligated to accept it. You should discuss with the lender how they will report it back to the proper agencies. Should the lender choose to refuse the deed they are required to file a Notice of non acceptance with the county recorder.
Nothing – We mention this because many homeowners will ignore the lender and do nothing. Don’t fall into this trap. You have options when in foreclosure, you just need to talk to someone and find out what the best options for your situation are. Visit www.foreclosure-helper.com for a free no obligation consultation of your situation. One of our experienced foreclosure specialists will contact you with a personalized situation analysis.
“Penny Wise and Pound Foolish”
This saying came to mind when reading my Icop newsletter. JLwas discussing things that Chuck and I talk about all the time. A couple of weeks ago while listening to Jim Edwards’ audio newsletter he ranted about the “psycho freebie seekers” love that name. Jim rants almost as well as Dennis Miller.
The Angry and Sometimes Grumpy Children of the 1950s
A bunch of us in our late 40s and early 50s got together the other night, and after the evening was over I started thinking that many of us born in the 1950s are in a crisis stage. People cant understand why we are so angry and grumpy sometimes. This article discusses some of the issues we have with society today and might enlighten others the younger set as to why we seem so disillusioned, and out of sorts at times.
The Art of Writing a Check
Although it may seem very obvious, many people do not know how to write checks. With the birth of a generation that regularly uses ATM check cards, online bill payment systems, and credit cards more often than checks, check writing may risk extinction due to ignorance.
The 3 Keys To Business Victories
No matter what business you are in there is a high chance of failure. Why Because most people dont do the research and keep the right focus needed to succeed.
How To Realistically Set Your Fees - Part 1
We all know there are 52 weeks in a year and 40 working hours in a week. Therefore, we can bill 2080 hours per year, right. Wrong. Too often this is the trap that many new service businesses fall into.
When Renting Is Better Than Buying
If possible, it is ALWAYS better to buy than to rent. Right Perhaps Not.
Mortgage Prepayment Penalties - Just Say No
One of the most common terms found in a new home loan is a prepayment penalty. This type of penalty says that if the borrower pays off the loan early, commonly during the first five years of the loan, then the borrower will be responsible for paying an additional amount of money, typically about six months interest on 80% of the mortgage balance. Sub-prime market loans will typically carry prepayment penalties more than standard mortgage loans.
How To Realistically Set Your Fees - Part 4
Effect Of Bad Debts
The Real Estate Bubble Fallacy
There has been a lot of talk lately about the "Real Estate Bubble", and a lot of folks are asking the question: "When it is going to burst"
How To Determine The Price Of Your Home
Why is it that some homes sit on the market for a year while others sell like hot cakesFrustrated sellers will blame a bad market, while a good real estate professional will tell you that many times, a slow sale is often attributed to the listing price.
Moving On: Powerful Tips For Selling Your Home
Maybe youre moving to a larger home to accommodate a growing family, relocating for a new career opportunity, or purchasing a townhouse for retirement.Whatever the reason for the move, youll need to take the necessary steps to sell your home for the best possible price, within a reasonable amount of time.Where do you begin
Small Business Tax Deductions for Year End 2004
As a small business owner, its wise to familiarize yourself with some key deductions that may reduce your tax bill for 2004.
The Future Of Banking - Bank Online
Chances are your bank is a virtual place. Since the invention of the Internet you can see your balances anywhere, at any time. Most banks think globally and have acted this way by creating secure portals to manage their account holder’s information stored in their databases. This information stored usually shows account balances, previous transactions, current balances, interest paid and electronic scans of their checks. Anywhere you can get to a computer, your bank account is right in your hands, usually in real-time.
The Power Of Viral Marketing
You certainly know by now that the term "viral marketing" is not just another dot-com cliché. Quite the contrary, it describes the incredible, unmatched power of the Web to promote your business by marrying email to the traditional concept of "word-of-mouth."
Dont Sign That Lease Yet
Youre being transferred to a new city in another state for a position that you start in exactly two weeks. You fly to your new hometown to select an apartment. You have exactly two days to make a decision and sign a lease, so when, after much searching, you find a vacancy in a relatively decent property, youre anxious to sign when the lease is placed in front of you. Resist the urge. As mentioned in previously in our report "Avoiding Tenants Tribulations," wearing rose-colored glasses can easily fool you into believing that your best interests as a tenant will be protected. Your desire to find a home and wind up what can be an exhaustive search process can push you into signing on the dotted line before youve read and understand all of the fine print of your lease.
How To Make Easy Money on the Internet -- But This Time Its Actually TRUE!
Own Your Niche by Building a Niche Community
In 1997, David Steele was making the transition from a professional therapist to relationship coach. Part of his strategy was to become a center of influence and THE Relationship Coach for his community.
Yahoo!/Overture Site Match: A License To Steal
Unless youve been living in a cave somewhere, Im sure youve heard by now, Overture now offers the Yahoo! Search Inclusion under its own branded name--Site Match.
What is Vastu Shastra
Vastu is the oldest and most complete system of architecture in the world. The reason for its recent interest in the U.S. is that Americans are demanding a better quality of life. There’s a greater awareness now that our physical environment does affect the quality of our life. The effect of our environment can make us feel peaceful or stressful. There is a great deal of stress and pressure on people these days. The pace of life is so fast. Modern architecture only addresses function, comfort and aesthetics. The aim of Vastu is to create a peaceful, healing environment that supports growth and protects from non-life supporting influences, pollution and geopathic stress.
Investing: The Art Of Making Your Money Work For You
There is a lot to know about investing. It all depends on what type of investing you are interested in as well. There are many different types of investment options out there. So what is investing, specifically
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