Feb 28 2009
Foreclosures affect people in many different ways. There are tax implications, deficiency judgments, emotional distress, credit issues, legal fees, and even the chance of divorce or severe depression. This is why I encourage everyone to fight to prevent foreclosure from ever occurring. The best defense is a good offense. Learn how to get on the offensive at www.ForeclosureDefenseSecrets.com.
Feb 22 2009
Part of President Obama’s proposed stimulus package specifically addresses three ways in which he intends on greatly reducing the number of foreclosures facing the nation today. For people currently behind on their mortgages, the interest will be reduced so that the total payments made to the bank each year do not exceed 30 percent of their annual income. For homeowners who are currently upside-down on their mortgage and owe a lot more than the house is currently worth, the President is suggesting incentives for the banks to reduce the principal amount and modify the terms of the loan around this new lower principal. The third part of the plan would allow bankruptcy judges to modify mortgages, but only mortgages closed before the law is enacted are eligible.
However, what no one seems to be mentioning is that there is no moratorium on foreclosures and that all of these new programs will only work if the banks take the initiative to implement them. The banks truly do want to rework these loans and keep good borrowers in the properties. They are not in the business of real estate; they are in the business of lending. However, the banks are so overwhelmed that by the time they get around to working with the borrower, a foreclosure judgment has already been entered.
In order to truly benefit from President Obama’s stimulus package, you will need to know how to stall the foreclosure proceeding long enough to work something out with the bank. Learn how to stall your foreclosure for as long as you need at www.ForeclosureDefenseSecrets.com.
Feb 15 2009
Here is another example of how knowing how to use the judicial system to your advantage is crucial in keeping your house and modifying your loan. Learn how to use judicial discretion to beat the bank and save your home. Discover more at www.ForeclosureDefenseSecrets.com.
Feb 08 2009
This is only one of hundreds of tips that you can use to stop the bank from foreclosing your home. Learn more at www.ForeclosureDefenseSecrets.com.
Feb 01 2009
If you are faced with the reality that you will be unable to make anymore payments under the obligations of your current mortgage, do not think that you need to move out of your home anytime soon. Aside from the numerous ways that you are able to fight a foreclosure through the legal system, even if the bank is able to foreclose your property with no impediments whatsoever, it can be over a year before the bank forces you to vacate the property. There is no reason to leave any sooner. Of course, with the knowledge gained by reading Foreclosure Defense Secrets, you can stall the foreclosure and live in your house payment free for up to five years. Learn more at www.ForeclosureDefenseSecrets.com.