Jul 12 2009
The housing market is the first level of the economy to turn around and with prices steadying and mortgage rates low, the chances of being successful in selling your property prior to a foreclosure judgment being entered against you. You need to be able to stall the foreclosure process for long enough to locate a buyer for your house. Learn how to buy all the time you need at www.ForeclosureDefenseSecrets.com.
Jul 04 2009
In the past, getting the lender to approve a short sale was like pulling teeth, but in the current market, banks are becoming a lot more receptive to short sale offers. With mortgage rates near an all time low, more renters are attempting to be home owners and taking advantage of under-priced houses facing foreclosure. You can avoid foreclosure, save your credit, and sell your property via short sale. Find out how at www.ForeclosureDefenseSecrets.com.
Jun 27 2009
With the nation on pace for over 3,000,000 foreclosures for the second straight year, and over half of all properties sold at foreclosure auction going back to the banks, lenders are willing to modify loans now more than ever. If you are in an adjustable rate note, the lender will offer you a fixed rate. If you have a fixed rate of 8 percent, the lender will offer you 4 percent. In some cases, the lenders are even reducing the principal on loans that are more than fifty percent upside-down from their original appraised value. Your lender wants to modify your loan and keep you in your home, but they dont have enough time or manpower right now to get it all done and help you modify. This is where you need to help yourself.
The court systems are currently overrun with foreclosure filings and the rash of budget cutbacks have forced them to layoff over half of the clerks working at the courthouses. This means that any filings in defense of a foreclosure will delay the foreclosure from being entered at an exponential rate. For a foreclosure proceeding in which the borrower does not file any responsive pleadings, the judgment will be entered againts the borrower and the property is often sold at auction before any loss mitigation or loan modificatioon can be completed.
However, if you file affirmative defenses, motions for extension of time, requests to produce, and the like, you can stall your foreclosure for anywhere from 18 months to 5 years, depending on how you use the legal system and how you time your filings. This is plenty of time to work out a loan modification or short sale, or even to save up enough money that you can move into a nicer home at a lower price without ruining your credit. It might sound impossible, but it is actually quite easy if you know what you are doing. Learn the exact procedure and download the necessary forms at www.ForeclosureDefenseSecrets.com. You can save your home!
Jun 20 2009
California is one of many states instituting temporary moratoriums on the foreclosure of primary residences. While the moratorium is supposed to encourage lenders to work with homeowners on loan modifications, in reality it merely delays the inevitable and buys the homeowner three months to find a new place to live. In order to complete a loan modification, you need to first get the bank’s attention. In order to do that, you need to learn how to be a pest. After all, it’s the squeaky wheel that gets the grease. Learn how to squeak loud enough to save your home at www.ForeclosureDefenseSecrets.com.
Jun 13 2009
Jun 07 2009
When I began this blog under a year ago, the climate surrounding the mortgage foreclosure crisis in the United States was drastically different than it is today. The initial assumption was that borrowers facing foreclosure were people who got in over their heads and tried to take advantage of an under-regulated lending system by taking out loans that there was no way they could afford. The public opinion was more in favor of the banks instead of the borrowers, labeling the borrowers as uniformed investors seeking an undeserving bailout. From the time you missed your first mortgage payment until the time a foreclosure judgment was issued against you was about five months.
A few months ago, the public opinion began to shift. The government became aware that borrowers need to be protected and that the lenders need to be coerced into looking into loss mitigation solutions, such as loan modifications and principal reductions, to keep families in their homes at affordable rates, especially when the unemployment levels are so high and the economy is so low. From the time you missed your first mortgage payment until the time a foreclosure judgment was issued against you was about eight months.
Today we have a much more favorable situation. Not only have the media and the government been active in expressing the desire to protect borrowers from foreclosure, but now the courts are aiming to protect borrowers as well. With programs forcing the lenders to attempt mediation prior to getting a foreclosure judgment, judges being instructed to view foreclosure hearings in favor of the borrower, and a general sentiment by judges that there are too many foreclosures and some of the cases need to be dismissed, the courts are begging you to be active in defending yourself against foreclosure. From the time you missed your first mortgage payment until the time a foreclosure judgment was issued against you is about twelve months, if you do nothing, and up to three or for years if you actively defend yourself.
Hiring a defense attorney is expensive and not really worth the money unless you plan on filing bankruptcy. In fact, sometimes the attorney will charge you around $5,000 and hinder rather than help since you will lose the benefit of sympathy and compassion which are crucial when you are dealing with a court of equity, as is the case with foreclosure hearings. Doing nothing is absolutely unacceptable. While the thought of losing your home is scary enough to make you want to put your head in the sand, you would be doing yourself and your family a great injustice if you didn’t attempt to defend yourself and save your home. You are strong enough to beat the bank and keep your home. Learn how at www.ForeclosureDefenseSecrets.com.
May 30 2009
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.
May 25 2009
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 .
May 17 2009
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.
Apr 26 2009
Even if you are making your payments on time, you could still find yourself facing foreclosure for reasons beyond your control. When attacked by the bank, you must be able to defend yourself. Learn how to defend yourself from foreclosure at www.ForeclosureDefenseSecrets.com.