Foreclosure Defense Secrets.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 .

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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.

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