Nov 28 2008
Forgotten, But Not Gone
Watching the news, reading the paper, listening to the radio, and even surfing the internet, I am shocked by the lack of coverage that the mortgage foreclosure crisis is currently receiving. The housing market continues to decline, unemployment numbers continue to go up, and banks continue to foreclose. Has everyone forgotten that this crisis still exists?
Perhaps the word “moratorium” has given everyone amnesia. With all the talk of banks putting foreclosures on a temporary hold, it seems like the masses have assumed this problem to be behind us. What everyone is forgetting is that this hold will be lifted on almost all foreclosure actions in January or February of 2009.
If your goal is to keep your home for four more weeks, maybe your problems are behind you. However, if you would rather keep your home indefinitely, or at least long enough to modify the terms of the loan or complete a short sale, you still need to fight the foreclosure in a court of law. All the loss mitigation in the world will not protect you from a foreclosure judgment unless you delay the impending legal action against you.
It is important to remember that this problem is not going away. The only way to save yourself from foreclosure is to educate yourself and choose to take matters into your own hands. Learn how to save yourself at www.ForeclosureDefenseSecrets.com.
