Another fiscal quarter, another jump in foreclosures. With the Federal Government attempting to manage the foreclosure crisis, the banks are trying to get as many foreclosure judgments entered as soon as possible. In the coming months, there will be a push for more mediation, higher filing fees, and loan principal reduction through the court. The lenders want to avoid these issues so they are pushing the foreclosures through the system as fast as they are allowed by law. Don’t believe the lender when they tell you they are working on a modification and will notify you shortly. Don’t think that the foreclosure process will be stopped at all before a judgment is entered against you. Loan modifications will only become a possibility after you stall the legal process and make a little noise so that the lender pays attention. Don’t let yourself get pushed through the system and miss out on the bailout that is coming for any homeowners behind on their mortgage payments. You need to fight the foreclosure and stall the legal process for as long as it takes to get a better deal. Learn how to fight the process at www.ForeclosureDefenseSecrets.com.
Part of President Obama’s Foreclosure Defense Plan was signed into law this week. It establishes protections for renters living in foreclosed homes. One of the often overlooked problems in the foreclosure crisis has been the eviction of renters in good standing, through no fault of their own, from properties in foreclosure. To address the problem of these tenants being forced out of their homes with little or no notice, this legislation will require that in the event of foreclosure, existing leases for renters are honored, except in the case of month-to-month leases or owner occupants foreclosing in which cases a minimum of 90 days notice will be required. Parallel protections are put in place for Section 8 tenants.
While this part of the bill does not protect the borrower, it is a good sign of things to come for a couple of reasons. First, the signing of one part of the bill makes it more likely that other sections will be signed into law. This could include a nationwide moratorium on foreclosure sales, or even a lowering of principal balances to readjust for the lower real estate market. The other benefit from the President protecting renters is that you can keep your tenants in place and continue to collect rent even while facing foreclosure. This means more income for a longer time, providing you can stall the foreclosure long enough to take advantage. Don’t miss out on the benefits of President Obama’s plan. Protect your home from foreclosure and learn how to stall the process for as long as you need to. Get more information at www.ForeclosureDefenseSecrets.com .
When the foreclosure crisis began, it was due to adjustable rate mortgages jumping up and people not being able to afford the new rate. Now, just about everyone is affected by the foreclosure crisis and many homeowners with fixed rate mortgages are now in foreclosure as well. While the popular sentiment may be to hide your head in the sand and walk away from a bad deal, it is important to understand all of the repercussions to having a foreclosure judgment against you and a deficiency judgment pending. The better option is to fight. By using the eBook available at www.ForeclosureDefenseSecrets.com you can delay the foreclosure for as long as you need in order to get a loan modification from the bank or sell your property yourself. Find out more by visiting www.ForeclosureDefenseSecrets.com.