How to Stop Foreclosure From Happening to You!

The purpose behind this report is to help you decide which option is best for you when it comes to preventing the foreclosure process. The way to do this is through information. You cannot have too much information when it comes to the foreclosure process. The more you know, the better informed you are of your choices FORECLOSURES IN TEMPE AZ. You do not have to walk into the foreclosure process blindfolded – there are preventative measures that you can take.

It is important that you know the options that are available to you. The options that you choose will depend on whether you want to keep your home or sell your home. This report can give you some of the information regarding these choices. Before making a choice, however, you should talk with a loss mitigation specialist who is familiar with the foreclosure process and who can analyze your case. After you read over this report, you should call or contact 1st Foreclosure Prevention so that you can get a free foreclosure evaluation that can weigh your options against your unique set of circumstances. All foreclosures are different and all come with a unique set of circumstances. The main reason why people go into foreclosure is due to a loss of income. This can occur because of a loss of a job, an illness or even a divorce. During troubled times, it can be tempting to just try to ignore the situation rather than seek help. But sooner or later, you have to face the fact that you may lose your home, which is when you will act. At 1st Foreclosure Prevention, we give you choices that you can make that can occur throughout the foreclosure process.

Time is not your friend when it comes to foreclosure. The minute your mortgage payment is more than 15 days late, you are assessed with a late charge. The calls begin after the loan is more than 30 days past due and do not stop. Lenders today do not want to foreclose, but have no choice if you are not responding to them. They will most likely send you one letter before they file a Lis Pendens or a Notice of Default in the court of the county where your property is located. Then, everyone will know that you are going into foreclosure as this is public information. If you have already been through this process and received a notice, you are probably inundated with calls and mail from those who say that they want to “help.”

Who do you trust? Bankruptcy lawyers will urge you to file bankruptcy, which should never, ever be the first option when it comes to stopping foreclosure and, in many cases, will not save your home. Some companies that say they are loss mitigation companies will urge you towards a loan modification that they receive a fee for up front. At 1st Foreclosure Prevention, we do not push you towards any option that may not be right for you. We take a careful look at your particular situation and then come up with a solution to suit your needs. There are two solutions that we look at – keeping your home through a variety of different methods, and selling your home in a variety of different ways. Choosing one of these solutions that is right for you depends on your circumstances.

There are three ways that you can stop foreclosure and still keep your home. They include reinstating your loan, refinancing your loan or declaring bankruptcy. These choices may or may not work for you. Let’s take a look at them and see how they stack up against one another:

Reinstating your loan can consist of more choices. You may want to borrow money from a third party and get your loan up to date. You can talk to your lender on how much you need to borrow in order to stop the foreclosure process and get your loan current. Many times, the lender will waive some of the late fees if you promise to catch up on your mortgage.


Leave a Reply

Your email address will not be published. Required fields are marked *