Save The Family Home

Foreclosure!Are you in sHOCK?The majority of Americans are in shock because of their situation with their mortgage, the excessive surprise interest hike on their credit cards and a myriad of expenses. Shock is a system designed by a "74" year old credit expert, author and speaker that has seen how banks, credit card companies and others take advantage of you.It is ludicrous to think that someone would charge $3,000 - $5,000 to modify a loan when in fact with the information that we extract with our proprietary questions to your lender,it will cause them to do the calculations to modify your mortgage at a price and with a reduction of principal that you can afford. This is a service that lenders do for FREE.

In most cases, your bank DOES NOT want to take your house back,You CAN get your house back yourself WITHOUT resorting to an expensive foreclosure prevention service orloan consolidation. The fact of the matter is that the process to stop bank foreclosure is not that complicated.

Foreclosure is a very simple problem with a very simple solution. The people who stop bank foreclosure are the ones who are able to find the solution and then take action accordingly.

Once you know the solution, you can literally stop bank foreclosure in days or even hours. In some cases, all it takes is 2 sheets of paper and a phone call.

Banks lose money too when a typical subprime foreclosure going through. Lenders stand to loss $30,000 to $50,000 when they have to foreclosure a property according to Duke Olrich, founder, president and chief executive officer of DRI Management Systems in Newport Beach, Calif.

Therefore, banks are willing to help you in stopping foreclosure constructively, they are on your side, believe it or not. They are devising a survey for potential foreclosure households to fill and try to figure out how is it possible to help you.

You're probably either behind on your mortgage payment, or worried that very soon you will be.Unfortunately, in America today, your situation is VERY common. In fact, it's all too common. Foreclosures in the United States are currently at an all time high, and are predicted to get even worse.The key to stopping foreclosure is to act NOW. The sooner you take actions, the more options you'll have available to you.If you lay down for the bank and allow yourself to submit to the foreclose, not only will you be forced out of your own house, but in the span of just a few months, it could cost you your life savings, your retirement funds, your credit, and other family assets, not to mention your dignity.The only way to avoid losing EVERYTHING and avoid the pain and suffering that you and your family will endure during the foreclosure process, is to educate yourself by learning the tricks that the mortgage companies don’t want you to know.

Although sometimes it doesn't seem to be the case, the majority of lenders prefer not to go all the way with the foreclosure process and the reason is simple: Lenders are in the lending money business and not the landlord business. They would much rather see you bring the loan current and stop the foreclosure sale. So with that in mind, now is not the time to panic. There are several ways to get help with your situation and many options for you to consider.Contact your lender. Telephone first and then follow up with letters. This will ensure that you have written proof and a timeline of your communication.

You might want to approach a Loan Modification - A revision of the terms of the loan. Usually, the revision consists of an interest rate reduction. Other revisions can include fixing a rate that was originally variable, changing the length of time in which the loan is to be repaid, or reducing the principal balance (not done very frequently). How the lender determines the terms of the modification depends on a number of factors, most notably the borrower's financial profile and ability to repay the loan.This is most likely the most favorable to a borrower in these economic times since no one really knows for sure how long it will take for things to get better.

While you are wating for the modification to be worked out, you would probably want to stop the foreclosure proccess with a Forbearance - An agreement in which the borrower promises to stay current on the mortgage going forward, and agrees to a repayment plan for delinquent payments and accrued fees. Primarily used for borrowers with only a temporary disruption of income and wants to get the loan caught up again.This will stop the proccess long enough for you to get the forebearance in place.

A foreclosure is the most damaging event your credit status can encounter, worse than bankruptcy. A foreclosure on your credit record will negatively impact your ability to borrow money for many years. Obviously you want to avoid this at all costs,in addition to the fact that you most likely have many personal reasons for wanting to keep you home.

The foreclosure process as applied to residential mortgage loans is a bank or other secured creditor selling or repossessing a parcel of real property (immovable property) after the owner has failed to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust". Commonly, the violation of the mortgage is a default in payment of a promissory note, secured by a lien on the property. When the process is complete, the lender can sell the property and keep the proceeds to pay off its mortgage and any legal costs, and it is typically said that "the lender has foreclosed its mortgage or lien". If the promissory note was made with a recourse clause then if the sale does not bring enough to pay the existing balance of principal and fees the mortgagee can file a claim for a deficiency judgement.

Obviously,this proccess is a lot more complicated than the average home owner can understand given the fact that the proccess has been developed over the years by members of the legal profession.Fortunately for the majority of the home owners in trouble, there is a publication called "Foreclosure Defense Secrets" that will give tou all the ammunition you will need to go up against the lenders and feel confident in your success.Simply go to the following web site to get all the information you need to make an informed decision.