If you own a property that you rent to tenants, or if you are a tenant whose landlord is facing eviction, dont let the foreclosure process pass by without you protecting your rights. There is a way for tenants to avoid eviction and for landlords to still collect rent. They key for the tenant is to immediately work out a payment plan with the landlord to where they will pay a discounted rent to the landlord for any period during the lease where the landlord is unable to make the mortgage payments. The key for the landlord is to accept the discounted payments and use the legal system in order to delay the foreclosure for as long as it takes to either modify the loan, or enter into a stipulated reinstatement plan with the bank. Learn how to make the best out of a difficult situation and save your home from being taken from you. Visit www.ForeclosureDefenseSecrets.com for more information.
While this report is not entirely accurate, some of the information is very true and very helpful. It is not true that you only need to find $35 of mistakes to get your foreclosure suit dismissed and the attorney that expresses that in the clip is known for making false promises and does not have a good reputation among his fellow attorneys. You should also not expect to get your home for free.
However, it is true that you can delay the foreclosure process for as long as you need in order to get a loan modification, short sale, reinstatement, or stipulation agreement completed and keep yourself out of foreclosure for good. It is also true that you dont need to hire an attorney to accomplish this feat. You can do it yourself at almost no cost!
Whose fault is it?There is a lot of blame to go around.After all, there is no one person or entity that could cause such an economic crisis, no matter how hard they might try.As the attorney hired by the banks to execute the foreclosures, I have had the opportunity to interact with all of the possible culprits.
Is it the bank’s fault?Well, there are two banks to speak of in most foreclosure situations; there is the bank that did the lending and the bank that purchased the Note and Mortgage and is now initiating the foreclosure.The bank that purchased the Note and Mortgage as an investment is a victim.They do not want to foreclose.They thought that they would be collecting mortgage payments and that the loan was a good loan.They clearly thought wrong.
Is it the lending bank’s fault?The bank that originally lent the money did so because the borrower met certain qualifications.The bank reviewed the loan application that was filled out by the borrower or the mortgage broker and lent the money based on that application, however they failed to verify any of that information by requesting proof of employment history, credit scores, or income statements.They thought the loan applications were filled out honestly.They clearly thought wrong.
Is it the borrower’s fault?The borrower was looking at a real estate market that was skyrocketing.They figured that they could purchase a house now and sell it later for way more than they paid because real estate is the safest investment and the real estate market would continue to rise.They thought that any loan they would receive today would easily be paid bank with the equity they could pull from their ever-increasing value of their house.They clearly thought wrong.
Who is to blame for the mortgage foreclosure crisis?Everyone.We all thought we were making correct decisions and we were all wrong.No one stopped to take the time to educate themselves before taking these unnecessary risks.The true cause of the massive amount of foreclosures facing the nation today is ignorance.Suffice it to say, our best weapon against foreclosure is education.Educate yourself at www.ForeclosureDefenseSecrets.com.
Sure the President is attempting to reduce the amount of foreclosures, but in reality, none of these plans will have any affect on the falling property values and the foreclosure epidemic as a whole. Most people will not qualify for loan modification. Of those that do, most will be unable to pay their modified rate because the value of their home will still be way lower than the principal amount owed to the bank. Those that choose to file bankruptcy will take the chance that the bankruptcy court judge may reduce the principal owed to the bank, but most judges will choose not to do so and the borrower will be ruining their credit for at least 7 years from filing for bankruptcy. The only way to truly protect yourself from foreclosure is to learn how to use the judicial system and the foreclosure process to your advantage. Learn how to save your home at www.ForeclosureDefenseSecrets.com.