A professional foreclosure consultant is one who represents you in any or all of the following ways:

Stopping or at least postponing your foreclosure sale;

Exercising your rights for reinstatement (if applicable in your state);

Obtaining a reinstatement extension from your lender;

Obtaining a waiver of any clause in your deed of trust or mortgage that accelerates the seizure and/or sale of your home;

Obtaining a loan for you to bring the mortgage loan current;

Assist you in ameliorating any impairment or damage to your credit rating;

Completely stop the foreclosure process.

When you stand to lose your home to foreclosure, the time starts to fly by you like a jet. It seems that you just can’t catch up and you need assistance. Many times, the pending feelings of doom associated with a scheduled foreclosure keep the homeowner so upset that they cannot seem to function optimally. A professional, seasoned foreclosure consultant can step in and return the situation to normal for you – or at least make sure that you are represented as best you can be and make sure that whatever transpires is the best for you that is possible.

With the extreme number of foreclosures happening in the country today, laws are being revised to try and accommodate borrowers so that they are able to bring their loans current and rectify the foreclosure situations. Your lender’s loss mitigation department has representatives that deal with these issues on a daily basis – and they are in place to assure the least possible loss for the lending organization. They are not necessarily there to help you. If they feel that the lending company will lose less by foreclosing than to work with you, then foreclosure it will be. That is, unless you obtain expert representation to take charge of the situation and help you to become able to save your home by avoiding foreclosure.

If you are in danger of being foreclosed against, especially if you have already received a Notice of Default and/or a Notice of Sale, then please visit us at Stop Foreclosure Help Today and learn more about how a professional foreclosure consulting expert can be greatly beneficial to you and your family. We understand how difficult times are and we know just how much your home means to you.

Igor Mosyak
http://www.articlesbase.com/real-estate-articles/importance-of-having-a-professional-foreclosure-consultant-to-represent-your-interests-672674.html

Yes times are tough: people are upside down on their mortgages or even going through the foreclosure process, the banking industry is in turmoil, retail stores are closing at a record pace, jobs are being lost.  It is certainly difficult to imagine that all of these events are happening all at the same time, but things happen that are beyond our control.  Everywhere You turn people are crying for help, and pointing fingers everywhere except for where they should be pointed.  Here is a novel idea, though: take a good long look in the mirror and see who is truly to blame for you own person situation: you!

For years, people have been worried about keeping up with the “Jonses”: their neighbors, family, friends, emulating what they see on entertainment tv programs.  They go out and purchase cars and houses that consume most of their take-home pay just to say that they drive this car or that car, or so they can say that they live in this zip code or that city.  They struggle to live paycheck-to-paycheck using almost every last cent to pay for the luxuries that they thought would bring them status, but only drive them deeper into debt.  Did they not think that one day this would all catch up to them?

For years the national savings rate was at historically low levels under 1%.  A majority of the country wasn’t concerned with saving, just outspending and upstaging the next person.  Savings accounts?  Emergency funds?  Retirement savings?  Most reports concluded all of those things were virtually non-existent.  What happened once the ARMs started adjusting upward?  Foreclosures increased.  Defaults increased.  Banks, which are not in the business of selling real estate are seeing their risky lending practices come back and bite them in the rear.  Then the layoffs come, and there is no savings account, no emergency fund.  What do people do?  What else, blame everyone possible without taking personal responsibility for their own actions and decisions.

It’s really quite simple:

• House in foreclosure? Blame the bank for giving you a mortgage that you swore you could afford
• Car being repossessed? Again, blame the bank
• Job loss with no money in the bank?  Blame the employer for making a rational business decision
• Credit cards maxed out? Blame the bank yet again for giving you a line of credit that you couldn’t use responsibly or society for making it so easy to spend.
• Credit rating in the toilet?  Blame everyone else for expecting you to pay your bills on time and the credit agencies for calculating credit scores the way they do

Sometimes, people need a good slap in the face to wake them up to the fact that they are responsible for each of these situations.  It’s not the banks who extended the line of credit.  It’s not society (totally) for making you feel that you needed to keep up with those who actually have the means to afford their lifestyles.  It’s not the former employer that had to let you go in order for the business to survive.  Ultimately you are responsible for where you are right now.  You decided to buy rather than rent even though you knew you couldn’t afford it.  It was you who purchased a luxury car versus the affordable sedan even though the payments, insurance, and fuel costs would be stretching your budget.  You are the one who made the decision to spend your bonus and/or raise rather than fund your retirement account, savings account, or emergency fund.  It is al on you for living above your means, and you have no one but the person looking back at you in the mirror for where you are at this very minute.

Obviously this is not the same for everyone, but for the great many people who brought their current money woes upon themselves, this presents an excellent opportunity to learn something about yourselves and about money.  Look back to see how you got to this point.  See what you could have done differently, perhaps sought out a financial advisor, or read a book on money management.  Sit down and make a plan, outline your priorities, just do something to come out of this situation a more informed, more responsible consumer.

Eric J. Nisall
http://www.articlesbase.com/personal-finance-articles/stop-whining-and-take-responsibility-for-your-situation-674317.html

There would be less home foreclosures if people would work harder to stop a foreclosure before it even starts.  The problem is that lenders up until now were unwilling to help people to have their loans modified to better suit their new economic status and refinancing wasn’t always an option due to the decline in real estate value. 

So, how do you stop a foreclosure before it starts now?  The first thing you need to do is talk to your lender if you are having trouble making your payments.  The first time your mortgage is due and you are struggling to pay the entire amount is when you need to be on the phone discussing your alternate payment options.  If you have never been late before, your lender may not believe you are hitting an economic crisis, so you may need to provide proof, but you have many options now that you might not have at a later date, so as soon as you wind up struggling to make your mortgage payment, you need to act so that you can stop a foreclosure before it happens.

• If your crisis is a short term thing, see if you can make part of your monthly payment for a couple of months and stretch out the remaining balance over a period of time.  This will help protect your credit rating and ensure that your lender knows exactly what your plan is and how you plan to repay your back amount owed.
• Another thing you can do is see if your lender will let you skip a couple of monthly payments now and put them on the end of your loan, or re-amortize your mortgage.  This option is only for short term financial crises and you may still be required to pay something toward your mortgage in the mean time.
• Look into refinancing if you have some equity in your home, so that you can have a lower monthly payment that you won’t be struggling to pay each month.
• If you’re looking at a long term financial crisis, such as a layoff and want to stop the possibility of a foreclosure, you should consider a loan modification, which can change the terms of your loan, or stretch the term of the loan out a little more so that you can afford to keep your home and make your payments on time, even without your job.

These are the ways to stop foreclosure, by attacking the problem before it begins and making sure to stay in contact with your lender at all times so they are aware of your efforts to ensure that you are not faced with a foreclosure in your future.  Lenders want to help if you will let them and even though sometimes your customer service representatives may not be able to help you, a supervisor probably can either help you or can refer you to someone who works with your lender who can help you to stop foreclosure.  

To lower your rate, remove your late payments and stop foreclosure, contact a professional today. You can <a href=”http://www.pacethyself.com”>Stop a Foreclosure</a> on your home. 

Jane Anthony
http://www.articlesbase.com/mortgage-articles/save-your-home-by-stopping-foreclosure-741109.html

There would be less home foreclosures if people would work harder to stop a foreclosure before it even starts.  The problem is that lenders up until now were unwilling to help people to have their loans modified to better suit their new economic status and refinancing wasn’t always an option due to the decline in real estate value. 

So, how do you stop a foreclosure before it starts now?  The first thing you need to do is talk to your lender if you are having trouble making your payments.  The first time your mortgage is due and you are struggling to pay the entire amount is when you need to be on the phone discussing your alternate payment options.  If you have never been late before, your lender may not believe you are hitting an economic crisis, so you may need to provide proof, but you have many options now that you might not have at a later date, so as soon as you wind up struggling to make your mortgage payment, you need to act so that you can stop a foreclosure before it happens.

• If your crisis is a short term thing, see if you can make part of your monthly payment for a couple of months and stretch out the remaining balance over a period of time.  This will help protect your credit rating and ensure that your lender knows exactly what your plan is and how you plan to repay your back amount owed.
• Another thing you can do is see if your lender will let you skip a couple of monthly payments now and put them on the end of your loan, or re-amortize your mortgage.  This option is only for short term financial crises and you may still be required to pay something toward your mortgage in the mean time.
• Look into refinancing if you have some equity in your home, so that you can have a lower monthly payment that you won’t be struggling to pay each month.
• If you’re looking at a long term financial crisis, such as a layoff and want to stop the possibility of a foreclosure, you should consider a loan modification, which can change the terms of your loan, or stretch the term of the loan out a little more so that you can afford to keep your home and make your payments on time, even without your job.

These are the ways to stop foreclosure, by attacking the problem before it begins and making sure to stay in contact with your lender at all times so they are aware of your efforts to ensure that you are not faced with a foreclosure in your future.  Lenders want to help if you will let them and even though sometimes your customer service representatives may not be able to help you, a supervisor probably can either help you or can refer you to someone who works with your lender who can help you to stop foreclosure.  

To lower your rate, remove your late payments and stop foreclosure, contact a professional today. You can <a href=”http://www.pacethyself.com”>Stop a Foreclosure</a> on your home. 

Jane Anthony
http://www.articlesbase.com/mortgage-articles/save-your-home-by-stopping-foreclosure-741109.html

Being able to stop foreclosure sale when your mortgage company refuses to work with you can be a challenge at best, a nightmare at worst. But there are still ways to save your home from foreclosure even if your mortgage company will not work with you.

You even have options if your mortgage company will not work with you to stop foreclosure sale. Check to see if your state has a right to cure period and a right to redeem period. A right to cure means that you pay all of the money necessary to get your loan current. This includes all fees. In my county, I had to file right to cure papers at least 15 calendar days before the sale date. All I had to do was fill out a piece of paper and send it in to the public trustee in my county. The county then got the cure figures from the mortgage company. By law, the mortgage company has to provide cure figures.

A right to redeem means that you can still get your home back even after it has been sold at a foreclosure sale. While this is not a way to stop foreclosure sale, it is still a way to save your home. The trick with this is that you have to come up with all of the money that you owe your mortgage company plus any fees. This is not just getting your loan current, it is paying off your loan in full. The other thing to keep in mind is that not every state has a redemption period. Do not count on this as an option. Be sure to do your research so you know what the rules are for your state.

Another thing that you can do is enlist an advocate to help you stop foreclosure sale. Try getting a HUD approved counselor to help you work with your mortgage company. HUD counselors are trained to help with housing issues and may be able to come up with options or ideas that you have not thought of. Another good advocate that you can get is a lawyer. They can help you understand what your legal rights are when your mortgage company will not work with you.

Jill Borash
http://www.articlesbase.com/real-estate-articles/stop-foreclosure-sale-when-your-mortgage-company-will-not-work-with-you-717703.html

Stop Foreclosure helps the borrowers who cannot make loan payments and hence helps them save their home from foreclosure. If any homeowner has a fear of loosing his/her home, he/she has a wide choice to help him save his home from foreclosure. Whatever may be the situation of the borrower the financial institutions offer great help to them and hence stops foreclosure on their home. However to benefit from the stop foreclosure with loan modifications the borrowers should take assistance from a number of mortgage institutions that are willing to help him to get a loan modification done with the approval of the lender and help him save his home on stop foreclosure. All the borrower needs is to do a bit of documentation process and provide the details accurately to the mortgage company. The mortgage company further evaluates the information provided by the borrower and then provides a number of options for loan modification to the eligible borrower. The borrower is eligible for stop foreclosure with loan modifications if he has a valid reason to miss his loan payment. This may happen if he looses his job or may fall ill, or due to an increase in genuine expenses or simply fall short of funds to make loan payments. The mortgage company helps the borrower to modify his loan and assist him to save home by stop home foreclosure. If the borrower fails to make loan payment for the first time, the investor or the bank charges you a 30-day late fee. For this the investor or the bank sends a prior notice as a reminder for non-payment. The bank also discusses forbearance plan with the borrower to work on the missed loan payment and to bring you again on path. This special plan helps the borrower to reduce his payments or delay payments to help the borrower to repay the loan. The investor or the bank may also help by refinancing the loan and helps make the payment more reasonable. For this the borrower should confirm that he will anyhow handle the modification made on payments. But if you are unsuccessful to initiate your bank or investor and further avoid payments you may be charged late charges for 6 months , then 9 months and so on…till this period you loose your credit ratings and may even loose to gain from the forbearance plan or refinance assistance provided by the bank helping you avoid home foreclosure. If the borrower can not make payments for 90 days, the bank or investor charges you with an NOD (Notice of Default) which states that the borrower has 30 days to make his loan current for which the borrower may approach the court or be prepared for foreclosure. The court orders an auction for your home to sell it within seven days. If there is no buyer for the home on auction, the bank or the lender takesover the ownership and starts with legal formalities like name transfer public notice etc… Other way round, if the borrower pays all the charges like legal fee, late fee, foreclosure fee he might be saved. A foreclosure leads to a tremendous drop in his credit ratings and may not be further eligible to borrow loans for at least four years. Luckily there are other simple ways by which a borrower can stop loan foreclosure without a big deal: a) Refinance b) Forbearance Plan c) Partial Claim d) Pre-foreclosure e) Deed-in Lieu of foreclosure f) Real estates short sales Refinance is the help offered by the bank that enables the borrower to easily pay off the loan for he should be qualified to make the payments. Forbearance Plan helps to ease or suspend payments till the payments are current again. A partial claim plan allows the borrower to make advance payment to the lender by a Promissory Note. HUD helps to grant a partial claim. A pre-foreclosure helps to sell the homeowners home with less effort and thus avoid foreclosure. Deed-in Lieu helps the borrower to stop foreclosure by selling back the property to the lender or the bank itself. Hence avoids foreclosure but at the cost of the borrowers home. Thus the borrower under a financial burden who can not make the payments to the bank or the investor can stop foreclosure by opting a number of ways mentioned above and thus saves his home with Stop Foreclosure with Loan Modifications.

jamiehanson
http://www.articlesbase.com/finance-articles/stop-foreclosure-with-a-loan-modification-741844.html

If you are waiting for government help to stop foreclosure, you will need to wait until President Elect Obama and the new congress is seated before you have any financial difficulty.  That’s because the existing program, Hope for Homeowners (H4H) is great for the government but not so good for anybody else.  When the initial plan was unveiled by the Federal Housing Administration (FHA) the anticipation was that it would help to save over 400,000 homeowners from foreclosure.  H4H went live on October 1st, 2008 and in the first two months relatively few homeowners have taken advantage of it. There will be many articles touting it as a great thing that will help many people.  To me, it is a fairly stupid idea.

H4H requires lenders to take a serious haircut and for borrowers to give up their equity.  At first look, it seems like a good idea.  Under further investigation I think it falls apart.  Let’s take a look at how the FHA describes this will work.  For purposes of discussion, we will presume that you paid $250,000 for the house with a 10% down payment.  The example information below is taken directly from the FHA website.                                                                                          

These are examples of how the unique equity and appreciation sharing elements of this program work.  Keep in mind that these are only examples, and your actual experience will depend on many things, including how much your home increases or decreases in value1

Let’s say your home has an appraised value at the time you receive your FHA mortgage of $200,000.

And your mortgage is 90% of this, or $180,000.

This means the initial equity is the difference between 1 and 2, or $20,000.

                               

In this example, you and the FHA share this $20,000 when you sell your home or refinance your loan, because the program requires you as the homeowner to share the “equity” created when the lender walks away from $45,000 of debt.

Here’s how that $20,000 would be split:

If you sell or refinance:

During Year 1     FHA receives 100%, or   $20,000 you receive 0%, or           $0

During Year 2     FHA receives 90%, or      $18,000 you receive 10%, or        $2,000

During Year 3     FHA receives 80%, or      $16,000 you receive 20%, or        $4,000

During Year 4     FHA receives 70%, or      $14,000 you receive 30%, or        $6,000

During Year 5     FHA receives 60%, or      $12,000 you receive 40%, or        $8,000

After Year 5        FHA receives 50%, or      $10,000 you receive 50%, or       $10,000

So, if you sell or refinance right after receiving the new loan, the FHA keeps the equity that was created, and you don’t receive any of it.  On the other hand, let’s assume you stay in this loan and don’t sell or refinance for ten years.  At that point, you’re entitled to half of the equity – in this example, that’s $10,000 – and the FHA is entitled to the other half2.

In addition to this equity sharing, you will have to share any future home price appreciation with the FHA.  This means that, if your home has gone up in value between the time you receive your FHA mortgage and the time of your home sale (or other disposition); you will share the amount of this increase with the FHA (less closing costs and a portion of any improvements you have made).  This is a 50/50 split that does not change over time. 

For example, if:

1.            The value of your home when you take out this loan is……………………$200,000

2.            After some years, you decide to sell.  Now the home is worth…………………$250,000

3.            That means the appreciation is the difference between 1 and 2, or………………$50,000

In this example, you would keep half of this, or $25,000.  The FHA would also receive half, which is also $25,000.

Naturally, if the value goes down, there will be no equity to split and therefore no issue. Fortunately, given enough time, home values always improve, so you will see some proceeds from equity growth at the time you sell or refinance.  Did I mention that you also cannot go get a second mortgage except for making home improvements?  That’s right!  A second mortgage would cut into the equity, of which the government is entitled to half, unless you’re making improvements and thereby increasing the amount of equity that the government gets.  Even if you are currently in trouble, would you consider using this type of government help to stop foreclosure?  Or would you look for some sort of assistance that is not so intrusive?

Now I know what you’re thinking, what if I don’t sell my house?  I’ll just stay in it until a mortgage is paid off.  Maybe even pay it off early and enjoy the house in my retirement.  This way I’ll never pay the government anything.  Not so fast!  Take a close look at the information above and you will see which you must pay the government their half of the equity when you refinance, sell “or other disposition” of the property.  Your estate could potentially have to pay the government half of the equity when they inherit. This could force them to sell or refinance the house.  Is that what you want?

Today banks are in the mood to negotiate and modify loans in order to avoid foreclosure in the first place.  This could be a far better option for you than expecting any government help to stop foreclosure.  I’m afraid that help from the lender is the best you’re going to do, at least until the new President is seated.

Mark Elkins
http://www.articlesbase.com/mortgage-articles/no-real-government-help-to-stop-foreclosure-701113.html

Owning a home is very important to anyone. Being able to go to a place you own gives you a great feeling. The problem with this is that it is not accessible to most people, and because of this they search for help in lots of different places to achieve their goals.

The most common institutions that lend money for people looking to buy a home are banks. These are not the only ones that do this, because there are various other institutions that provide people with mortgage loans. When you solicit a mortgage loan to buy a home, you have the chance to become a home owner, but you have to repay all the money you borrowed, plus the interest.

Monthly payments may seem easy to handle at first, but the period of time for which the mortgage has been contracted is usually at least 20 years. In that time there are a lot of things that can happen, unpleasant situations when you aren’t able to make your monthly payments. At this time you might be facing foreclosure, you can be left without a home and with a bad credit.

When foreclosure is at your doorstep, you have to do everything in your power to stop it. You need to find all the help you can get to stop foreclosure proceedings, because once the wheels are in motion, you might not be able to stop them until it’s too late.

Foreclosure help can be offered from many outside sources, and you need to check each one of them in order to make the best choice. Foreclosure help usually consists of advice on how to stop foreclosure from ruining your probably already financially damaged life.

The best place to start searching for foreclosure help is the internet. Here there are lots of websites that can provide very good advice that can get you out of a situation like this. You are not the only one that faces such a problem, and you might find a lot of help in what other people did in order to avoid total damage from situations similar to the one you are in.

Probably the most important advice you will find over the internet on how to stop foreclosure is to ask your mortgage lender on solutions to a temporary problem. This is probably one of the best things you can start with and probably the most efficient.

Banks and other financial institutions that offer mortgage loans are not in the real estate business. Selling homes is not the cheapest things they can do because everything costs money, so it is in their best interest to help you in order to stop foreclosure proceedings.

Their expenses can go through the roof with legal proceedings for eviction, no more interest is gained on their loans, they also have to maintain the property in order to be sold, not to mention the selling process, which in some cases can take years to complete.

This is why they are the first place you should go to in order to obtain foreclosure help. The internet can provide lots of useful tips on how you can approach the situation so you can make the most of it. One website that can provide such advice is foreclosure-help-radio.com.

Jhoana Cooper
http://www.articlesbase.com/mortgage-articles/solicit-help-in-order-to-stop-foreclosure-700874.html

Hi,

Just reaching out to my fellow Americans…and want to know your thoughts on any innovative ideas and solutions to ’solve the foreclosure crisis’ =)

People need to be smart and not buy more house than they can afford, and banks need to not let people buy houses out of their reach. Its too late to do much about the current situation just ride it out. Bailouts, while easing the blow, only prolong the problem.

It sure would. I am always surprised to see the percentage of non Americans on Yahoo answers seeking knowledge in categories that can help you be successful in life. Americans are more worried about their beer movie or boyfriend than learning something of value.
I think Americans need to wake up or we will be living in grass huts.