Answer The Phone To Stop Bank Foreclosure

You must act quickly if you intend to stop bank foreclosure. The unfortunate situation of losing your home and facing the probability of bank foreclosure can be overwhelming. However, you must not waste time crying now - take action to stop bank foreclosure or it will be too late. This article will examine some fast action tips for stopping bank foreclosure and saving your home today!

Don’t worry if the phone is ringing and the bank or debt collectors are calling you to get a payment. The fact that they are calling you is actually a good thing. You may be able to work out a deal that will stop bank foreclosure and keep you in the home for a while. You might ask if they are willing to allow you to make interest only payments on the home. This will not help you gain on the equity in your home, but it will make the payments more affordable.

You might be able to get a foreclosure home loan and stop bank foreclosure in some cases. These foreclosure loans are made by many private investor groups who look for, and buy foreclosure properties and then lease them out or resell them back to the original owner at a reduced payment plan. It can work for some people and is well worth looking into if you can not reach a settlement with your bank.

Trying to stop bank foreclosure is not that difficult if you are willing to try and work out an agreement with your lender. If you simply cannot make the payments and you can not afford a smaller payment plan then you may need to consider some other more drastic options for all of your bills.

If you need more foreclosure help then quickly head over to http://foreclosure-help-now.com/ where you will find helpful foreclosure tips, advice and resources including information on foreclosure plans, negotiating and more Stop Bank Foreclosure.

John V
http://urlfreeze.com/JCV/ForeclosureServices/

John C. Vincent/CEO/The Opt-In Marketing System
http://CreditSurvivor.blogspot.com
http://Filing4Bankruptcy.blogspot.com
http://JohnCVincentsMoneyBlog.blogspot.com

It Is Possible To Stop Foreclosure Quick

You are not the bad guy. When creditors are calling you they want to help you and most understand that you are struggling to make ends meet. You might be able to stop foreclosure quick and make a deal to pay interest only payments for a few years. It may not be the best way to go, but it will stop foreclosure quick. This article will look at some possible ways to stop foreclosure quick.

You should first check the value of your home to see how much equity you have built up. If there is some value in the home then you will most likely want to try and save your home from foreclosure. If the home is worth staying in then make a call to the lender and stop the foreclosure quick.

You Need To Stop Foreclosure Quick

You must act quickly and make the phone call to the lender or bank. If you explain that you are having trouble making the payment, but if you want to avoid foreclosure they will usually try to work with you. Maybe you are out of work for a period of time. If you can show them you are willing to try and make it that will buy you some time and stop foreclosure quick.

If you are in an area of nicer homes and you know the value is there then you should make every attempt to save your home from foreclosure. You should contact some realtors and see what the values of other homes are in your neighborhood. If the value is of reasonable value you should call to stop foreclosure on the home soon.

If you have a nice home then another method that could possibly be used to stop foreclosure quick is to find someone who is looking for a nicer or larger home inn exchange for their home. You may be able to swap into a lesser payment and stop foreclosure quick!

If you want to stop foreclosure quick you can do it, but it may take some creativity and a little hard work to get it done.

If you need more foreclosure help then quickly head over to http://foreclosure-help-now.com/ where you will find helpful foreclosure tips, advice and resources including information on foreclosure plans, negotiating and more Stop Foreclosure Quick.

John V
http://urlfreeze.com/JCV/ForeclosureServices/

John C. Vincent/CEO/The Opt-In Marketing System
http://CreditSurvivor.blogspot.com
http://Filing4Bankruptcy.blogspot.com
http://JohnCVincentsMoneyBlog.blogspot.com

Buying a Home After Foreclosure

Many people fear that buying a home after foreclosure is impossible. Fortunately, that is not true. You can live your dream of homeownership a second time. Read on to learn more.

Foreclosures happen. They can be a terrible event in anyone’s life, but they will not eliminate your chances of getting another loan. If you are interested in buying a home after foreclosure, it is possible. You simply need to follow these basic rules:

Give It Some Time

Most lenders recommend that homebuyers wait at least two years after a foreclosure before applying for another home loan. This two year period gives you an opportunity to get your finances in order and rebuild your credit. If you don’t want to wait two years before buying a home after foreclosure, you may be able to find a lender who is willing to make an exception to this rule. However, you will probably need a significant down payment and a fairly good credit score.

Rebuild Your Credit

A home foreclosure can have a negative impact on your credit rating. If you are thinking about buying a home after foreclosure, the first thing you will want to do is begin rebuilding your credit. Start by paying all of your monthly bills and loan installments on time. This will show lenders that you are responsible with your bills. If you are in a position to do so, you may also want to get a low interest credit card and make a few charges. Just make sure that you pay the debts off before the interest kicks in, or make regular payments on the balance.

For a list of Recommended Bad Credit Mortgage Lenders Online, visit http://www.abcloanguide.com/, an informational website about various types of loans.

John V
http://urlfreeze.com/JCV/ForeclosureServices/

John C. Vincent/CEO/The Opt-In Marketing System
http://CreditSurvivor.blogspot.com
http://Filing4Bankruptcy.blogspot.com
http://JohnCVincentsMoneyBlog.blogspot.com

A Few Fallacies and Facts About Foreclosure

There are many misunderstandings concerning the issue of foreclosure. Unfortunately these misconceptions have lead many homeowners to take all the wrong actions in trying to stop the foreclosure process which ultimately causes them to lose their homes. Below are a few of the myths that seem to persist regarding bank foreclosures.

• The bank wants your house so they can resell it.

o Nothing could be further from the truth. The bank almost never wants your house; they want the money you owe along with interest. Typically banks usually hate going through the foreclosure process and will bend over backwards to work with homeowners in avoiding a foreclosure.

• The bank will not accept my payments. I am all out of options.

o The bank wants you to bring your payments current. Period. Remember they are in the money business. The interest on your loan is their life blood. All is not lost however. If this is not practical for you then a mortgage negotiation professional can set up a plan for you to pay just a portion of the arrears, set a plan to pay future current payments and catch up on the remaining arrears over time.

• The foreclosure notice was delivered today; I have to start packing

o Depending on your state of residence you may have a very long foreclosure process. This may give you several months, if not longer to move. Remember that you have to find a new place to live because eventually you will be physically removed.

• I am in foreclosure; no bank will refinance me out of this predicament.

o This depends on the amount of equity in the home and its Loan To Value ratio. If that ratio is right there are specialty lenders who will pay off your current lender and hold the note.

• I will just file bankruptcy and save the house.

o For starters this isn't as easy as it once was. Bankruptcy laws are getting tighter and deliberately more difficult. A chapter 7 bankruptcy will stop the home foreclosure on a temporarily. The caveat is you need to do something else to keep the house in the long run if you are facing foreclosure.

• The bank has our house so we can wash our hands of the whole affair.

o This assumption has come back to haunt many people. If there is a deficiency you may still owe the difference plus any interest even though you no longer own the home.

• I pulled off a minor miracle and got all the money I owe the bank to bring me current, but I am afraid it's too late to stop the foreclosure process.

o Wrong. In most states if you have all of the money you owe the bank they have to take it and stop the foreclosure. It is the law, and besides the bank doesn't really want the house back in the first place.

• My house is gone and I can never buy it back.

o There may be hope. Some states have “redemption” rights where they can keep the house if they can pay the bank off in full, principal and arrears, within a limited time period.

• They get to keep all my stuff once they take the house.

o The rule of thumb here is if you can carry it away it is yours. You keep your personal property, but permanent attachments to the house should stay. Do not turn it into an issue by taking everything from floor to ceiling. That will just insure trouble.

• The bank started this process. They cannot expect me to pay legal fees.

o They do and you will if you want to keep the house. The amount will vary depending on what is contained in your mortgage agreement.

• There's nobody to help me stop my home foreclosure.

o In this you have more help at your fingertips than you might imagine. Many methods and many professionals can help you avoid foreclosure.

These are a few of the rumors out there involving foreclosure. The best advice is to contact a foreclosure prevention specialist and allow them to handle the process.

Chuck Lunsford is the website manager for SaveMeFromForeclosure.com, a leading resource on how to stop foreclosure on your home. SaveMeFromForeclosure.com specializes in helping people in North America avoid the foreclosure process. Visit us for more information on how SaveMeFromForeclosure.com, can help you, or call 1-888-472-8380.

John V
http://urlfreeze.com/JCV/ForeclosureServices/

John C. Vincent/CEO/The Opt-In Marketing System
http://CreditSurvivor.blogspot.com
http://Filing4Bankruptcy.blogspot.com
http://JohnCVincentsMoneyBlog.blogspot.com

Practical And Impractical Options To Stop Foreclosure

For the homeowner who has missed a few mortgage payments the foreclosure process can start very quickly. During this stressful time it is critical you promptly take action to stop the foreclosure process and try to save or sell your home. Keep in mind that no one will help unless you ask. So, if you want to stop a foreclosure, you need to take responsibility and get the process moving as soon as possible.

Do Nothing

Exercise this option and eventually the sheriff shows up and escorts you to the sidewalk along with all your personal belongings.

Leave In The Middle Of The Night

You can run but you cannot hide. Decades before the "Information Age" a person may have been able to move across country and start over. Today more than ever before the practicality of heading for parts unknown is simply impractical. Aside from the difficulty in disappearing you may be breaking several laws as well.

Ask Family and/or Friends For Help

A small percentage of homeowners may be able to find help this way, yet their pride and embarrassment for getting into this situation in the first place prevents them from reaching out. Another consideration is the people you ask may not have the extra financial resources to help.

Negotiating With The Bank or Lender Yourself

Your lender is willing to stop the foreclosure process. That is a fact. All lenders hate foreclosing. Mortgage lenders typically lose money when they foreclose, since most foreclosed homes are worth less than the value of the mortgage. Plus, the foreclosure process is expensive to manage and is stressful for everyone. The problems facing most homeowners in handling the negotiation themselves is a lack of understanding regarding their rights and responsibilities, effective negotiating skills, and the amount of time involved. You are likely already consumed with scraping together funds wherever you can in the hopes of bringing your mortgage payments up to date. Where will you find the time to work with the bank or lender? This option is doable, but it is like swimming against the current. Eventually the pressure is going wear you down and just make the situation worse.

Hiring a Foreclosure Prevention Service

If you do decide to hire a firm, since negotiating with the lender to find the best solution is complicated and time consuming, practice due diligence and shop around. Depending on your situation and who your mortgage lender is, the subtleties of negotiations are critical to a successful outcome. You need someone who is experienced at foreclosure negotiation. The company that will help you stop foreclosure should present you in a way that convinces your lender that you are a responsible person and that you are capable of developing a plan and getting back on track.

The company you hire typically negotiates with the lender to repackage the loan so that the borrower can become current again. It will help save your credit, keep you in your home or sell your home, and appease your lender. This process has to happen pretty quickly, and could involve one or more of the following:

Loan modification - If you can currently make your regular payment, but you can't catch up with the past-due amount, the lender folds any past-due amounts, including interest and escrow, into the unpaid principal balance. This new amount will be re-amortized over a new period of time.

Payment forbearance - Here you are allowed to pay the overdue amount, plus penalties and interest, over a specified period of time.

Deed in lieu of foreclosure - This is where you are unable to pay for the house and you voluntarily give the house back to the lender. Be warned that you still have to pay back any difference between what you owe and what the house resold for. Not every lender will always accept this arrangement.

Sell your house - Some people exercise this option if they do not want to keep the home. Most homeowners want to keep their home and often choose this option if all else fails and they want to save their credit.

File for bankruptcy - This should only be used as a last resort because of the negative impact on your credit (up to ten years in some states). Keep in mind also filing for bankruptcy is much more difficult these days due to new laws recently passed.

In the end, there are a variety of considerations when you try to avoid foreclosure, so educate yourself and plan for the best resolution to the foreclosure process.

SaveMeFromForeclosures.com is a leader in the foreclosure prevention industry. We offer solid information, consultation, and strategies to assist the homeowner in avoiding foreclosure. We offer tailor-made options and suggestions based on your unique situation. Get onboard today with right company to help you with stopping foreclosure. Visit our website or call us at 1-888-472-8380 for a no-obligation consultation.

John V
http://urlfreeze.com/JCV/ForeclosureServices/

John C. Vincent/CEO/The Opt-In Marketing System
http://CreditSurvivor.blogspot.com
http://Filing4Bankruptcy.blogspot.com
http://JohnCVincentsMoneyBlog.blogspot.com

Foreclosure Dangers!

Anyone can lose their home to foreclosure, even you!

The loss of a job; divorce, illness or some other “trigger event” could start the ball rolling. According to the American Banker’s Association, most people have less than 3 month’s worth of cash in reserve.

You may not realize that foreclosure can be the first step in the destruction of your family’s financial future.

The foreclosure of your house can lead to the bank seizing anything you own; property, cars, stocks, your kid’s college savings! Even the IRS can get involved, perhaps garnishing your salary. Could you imagine that?

Get ready. There is a foreclosure Tsunami coming!

If you purchased your house or refinanced in the last 4 years, you are vulnerable. The National Association of Mortgage Banker’s (NAMB) records show that more mortgages go into foreclosure 3-5 years after issue than at any other time.

A recent report by the Federal Reserve Board showed that historically, interest rate rises of 3% or more, started a housing market slump. Their increase last month brought the total rate increase since last year to 3 percent.

Also, you may have been among the 40% of mortgagors that took an adjustable mortgage recently. Those “teaser” rates of 5% or less are set to explode your mortgage payments by 25-33% or higher when they adjust. In 2006, over $300 Billion dollars worth of mortgages will adjust with $1 Trillion more in 2007, according to Freddie Mac, the secondary mortgage lender.

The last piece of this looming disaster is the tiny amount of equity the average homeowner has in his property, less than 25%, according to NAMB.

What if you were laid off and fell behind on your bills 2-3 months, including the $180,000 mortgage on the house you bought for zero down a couple of years ago, worth $200,000 today?

How hard would you fight to keep your home with prices falling and similar properties renting for less than your ballooning mortgage payment?

You might be very tempted to send the keys to the bank and walk away.

DON'T!

You must not let the bank take your house under any circumstances!

Banks generally send out Notices of Default or foreclosure notices when you miss 3 payments. This starts the countdown to the sale of your home on the courthouse steps.

In some states, this is a matter of weeks, in others it may take months. In the interim, you watch helplessly as the unpaid mortgage payments, bank’s fees, late fees, legal fees, inspection fees, etc. blow up your indebtedness like a hot air balloon.

By the time of the auction, the balance of your mortgage could have expanded by $20-$30,000 or more. The softening housing market and the flood of foreclosures means your home would probably sell at a discount at the auction.

If the proceeds of the sale do not cover the bloated total you owe the bank, you are in trouble.

In most states, the bank can get a “deficiency judgment” against you for the balance. They can seize anything you own, as we noted before.

If the bank cannot recoup their deficiency from you, or your state will not allow a deficiency judgment, they will write the deficiency off on their taxes.

The IRS now comes into the picture. They consider money you owed and did not pay, your mortgage deficiency; to be income to you!

They will add it to your annual income and expect you to pay taxes on the total amount, in cash with your next return.

If you cannot pay, the IRS can come after everything you own, including your paycheck.

Don’t let your family’s financial future be destroyed. If you are facing foreclosure, seek professional help as quickly as possible.

Bill Young. Bill is a former bank loan officer. He is currently a personal financial consultant and offers assistance to those facing foreclosure. For more information, visit his website at http://savemyhomellc.com/


John V
http://urlfreeze.com/JCV/ForeclosureServices/

John C. Vincent/CEO/The Opt-In Magic System
http://CreditSurvivor.blogspot.com
http://Filing4Bankruptcy.blogspot.com
http://JohnCVincentsMoneyBlog.blogspot.com

The Reality Of Foreclosure And What Lies Ahead

There are many bumpy roads that we have to travel on, in this life we live in. We are faced with struggles of every kind and sometimes the end of the road seems far away. Foreclosure can seem like the end to some, or it can be the beginning to others. It's all in how we view things that happen to us. No one likes to feel like they lost the fight, but sometimes there is no fight left in us, and we let the chips fall as they may. For someone facing a foreclosure, it can feel like the whole world is falling apart, but trust me, when it's all over, life still goes on. This article will talk about foreclosure and how it can effect you.

You may have worked hard and saved up much, to get the dream home you always wanted, only to find that you are losing it. Foreclosure is a reality that many people have to face at some time in their life. Life can change over night, and it seems that in an instant, your dreams can come crashing down. There are many financial reasons that can cause the lifestyle we live, to change. Maybe the job you thought was secure, just ended, or maybe the stock you counted on didn't come through, or maybe you or your spouse have become medically ill or disabled and can no longer work. Foreclosure is a result of not being able to make the monthly mortgage payments. When the bank does not receive their monthly mortgage payments and they have lapsed for a few months, they have the option of foreclosure.

Unfortunately, there are millions of homes each year that go into foreclosure. No one buys a home with the intent of losing it, but things happen and so do foreclosures. You can find a foreclosure in a foreclosure listing classified under manufactured homes, government and federal agencies, real estate, and bank foreclosures. There are literally millions of these homes listed and they can be found in every state and probably about every city as well. You can actually buy a foreclosure home if you are looking to buy a new home. Someone's loss can actually be your gain in many cases.

There are many agencies that have listings for a foreclosure and you may have to pay to get the list, but it will be worth it if you can buy a home for less that it's value. That's right, you can actually purchase some foreclosure homes for less than their appraised value.

If you need more Forclosure Help then quickly head over to http://foreclosure-help-now.com/

where you will find helpful foreclosure tips, advice and resources including information on foreclosure plans, negotiating and more Foreclosure information.

John V
http://urlfreeze.com/JCV/ForeclosureServices/

John C. Vincent/CEO/The Opt-In Magic System
http://CreditSurvivor.blogspot.com
http://Filing4Bankruptcy.blogspot.com
http://JohnCVincentsMoneyBlog.blogspot.com