Comments on: How to Avoid Foreclosure

on 9/24/2008 not true in my case. Home Eq is manipulative and unwielding. I was told by Home Eq that I could not get assistance until I was at least a month delinquent on my mortgage. They are advocating irresponsibility. I also tried HOPE and they told me to look over my budget and live leaner. I can't live 'lean' while my mortgage interest keeps rising every 6 months, I'm $40K in debt on my house (housing market crash) and I can't find a job in my current city (economy) since I'm being laid off in less than a month. I would love to refinance what I actually owe on the house, unfortunately I can't refinance for more than the value. This is really a disaster

on 8/11/2008 I had a foreclosure horror story years ago. The best thing you can do is contact some professionals. HUD may have some help, or you can contact a professional business like I did. Saved my A**! http://tinyurl.com/5e6ovm

on 5/7/2008 Non-traditional remedies are needed to help the homeowners with non-traditional mortgages and financial problems who dominate the foreclosure statistics.
Project Hope 2008 Alliance is a cooperative effort between counselors, investors, and lenders to help homeowners who may not be able to pay their mortgages or are currently delinquent
http://www.projecthope2008.org/index.html

on 5/7/2008 Non-traditional remedies are needed to help the homeowners with non-traditional mortgages and financial problems who dominate the foreclosure statistics.
Project Hope 2008 Alliance is a cooperative effort between counselors, investors, and lenders to help homeowners who may not be able to pay their mortgages or are currently delinquent.
http://www.projecthope2008.org/index.html

on 9/16/2007 President George Bush has recently signed into effect a new government insured mortgage program called "FHA Secure" which is designed to save people's homes from foreclosure!

This new loan program is primarily aimed at homeowners with ARM's (Adjustable Rate Mortgages) who made their mortgage payments on time until their loan adjusted which raised their interest rates/payments causing them to be late or get behind on their mortgage payments.

This loan program will allow the homeowner to refinance their current mortgage and "roll" in any late payments, penalties, new closing costs, etc... and receive a low 30 yr fixed rate (6-7%) mortgage.

If you would like more information on qualifying for this special loan please feel free to contact me directly.

Cole Thimsen
First National Mortgage Sources
Direct 612-963-2570
E-mail cthimsen@fnlender.com / www.FhaSecureSource.com

on 7/26/2007 If you live in Michigan (metro Detroit area) and are concerned because you can't make payments on your mortgage, give me a call. I am a realtor who works with customers helping them get the properties sold, do bank short sales and other options available to them. Email me at mswain@kw.com.

on 8/13/2006 As soon as you think you might face foreclosure, make the difficult decisions right away. Slash your spending on everything but the absolute necessities. No Starbucks, cigarettes, eating out, etc. Apply immediately for a second job (if you don't have one already). It may take some time to find one, and you'll regret days spent doing nothing later on. Demand immediate repayment from anyone who owes you money. Borrow money from your in-laws, even though you hate the idea of it. Get an advance from your employer. Trade in your fancy car for a more sensible one. These lifestyle changes may be difficult - even more difficult than trying to negotiate something with your lender - but they will yield real results, and will make any negotiations even easier because you will have more credibility.

on 8/8/2006 There are more ways to avoid foreclosure than just working with the bank. Banks are in the money business and they want to get as much of your money as they can. Repayment plans (often called a forbearance) are a great option, as long as you have steady income streams and can commit to making significantly higher monthly payments than before.
Before you commit to a repayment plan, be absolutely certain that you can follow through with your commitment. Otherwise, you'll end up sending the bank a lot of money and still end up in foreclosure a couple of months later. You have to look at your financial situation and decide whether it's best to stretch yourself financially for the next year or so, or if it's best to sell the house, get out from under the debt and make a fresh start.

Just remember, you do have options. We all go through challenges. You can come out ahead as long as you take charge of the situation.

on 1/4/2006 Literally 99% of people in foreclosure will be turned down for new financing, but will not be notified until it's almost too late to save the home! If approved for financing you are likely to be pressured into interest rates and loan fees up to ten times higher than quoted at the last minute at the closing table under duress. Do not waste precious time and money applying and waiting! Short sales are OK if you want someone to take advantage of your hard work over the years. Losing your home to a foreclosure can be stopped, but time is of the essence.

on 11/22/2005 Another option to avoid foreclosure is to do a "Short Sale". This is where the mortgage company will allow you to sell your property for less than fair market value. This prevents the word FORECLOSURE from being on your credit, the mortgage company is paid and happy, the new buyer is happy, and you can start over...and you're much happier. I am a Realtor in Tulsa, OK and I can help with these. I will talk to you, find out what the situation is, talk to the mortgage company, find out what their position and bottom line is, then I'll list your home on the MLS so that all the Realtors in the area will be helping to sell your home quickly for you. If you live in the Tulsa, Oklahoma area and would like to explore this option, please call me at 918 857-8791 or email me at tracysecondine@tulsarealtors.com

on 11/22/2005 When you can't make your payments, it's natural to be depressed and want to avoid the situation. Taking some sort of action - a few phone calls, for example, will help get you started. You'll think more clearly and you might find a good solution.