A big financial issue in these times of a shaky economy is how to stop foreclosure now. This has impacted many families throughout the country. I am contacted all the time with questions on how to prevent the bank from foreclosing on the family home.
A new study on the frequency of foreclosure indicates that 18% of homes in the United States will be lost in the next three years. That is 8,500,000 individual homes. It is hard to believe that you can stop foreclosure now when bombarded with such frightening news.
With such a low demand for homes prices will drop. Unfortunately, there are so many people losing their homes the demand for homes is decreasing all the time. With such a low demand for homes, prices will drop. A seller's market with no buyers to sell to is not going to work.
Our struggling economy has led to many families to try to stop foreclosure now all by themselves.
I, too, have experience with this subject. I purchased my home for $280,000. I paid my mortgage every month religiously for two years. Tragedy stuck and I lost my job and it is no longer possible to make my mortgage payments.
However, not every family is interested in trying to stop foreclosure now, myself included. I still owe $275,000 on my mortgage but my house is only worth $180,000. There is no point in trying to stop foreclosure now.
There are ways to stop foreclosure now. The first step is to delay foreclosure for as long as you can. I am not talking about making payments that are not in the realm of possibility. After all, the choice between food and a place to live is not a choice at all. Foreclosure should be avoided, even if you know you are not going to be staying in your home.
I have been in my home without paying the mortgage for the past 22 months. I am lucky enough to have the knowledge necessary to fight foreclosure. I would like to share this with you.
One of the most common things I hear from my subscribers is that they do not talk to their lenders. It is understandable; it is not exactly comfortable to have to admit that you can no longer make your mortgage payments, even though there is nothing to be ashamed of. After all, millions of Americans are in the same boat. How can you stop foreclosure now, though, if you do not keep in contact with your lender?
On the other hand, be really careful if you decide to do so, because; as it is something you need to do if you want to save your home, you should know to approach your bank, cause if you do not, you will not succeed and foreclosure will be eminent.
If and when you do decide to be in contact with your lender, you should approach your bank carefully. If you are not cautious, you will not succeed and all the hard work you put into keeping your home will be wasted.
Beware predatory counseling agencies. Most of the times you can do better contacting your lender on your own. Never forget, Foreclosure Assistance Agencies are out to make money. They are not in this business out of the goodness of their hearts. They are a business first and foremost.
If you do decide to use a Foreclosure Assistance Agency and you are not able to meet the reduced mortgage payments they offer, they will pass this information on to the lender. This just speeds up the foreclosure process.
I have no hidden agenda. I am not on anyone's payroll. I am speaking for myself only and therefore I can be completely blunt and honest. 75% of homeowners facing foreclosure are at that point because they never could afford the monthly mortgage payment in the first place and our shaky economy has just made that painfully obvious to lenders.
For more detailed information about this subject and for tips and strategies to avoid foreclosure and stay in your home for over two years without making any monthly mortgage payments, go to my Website: How-To-AvoidForeclosure.info Click Here: how-to-avoidforeclosure.info Stop Foreclosure Now Remember, you can do this without paying for Lawyers, Agencies or for any service at all. Just click the link how-to-avoidforeclosure.info To Stop Foreclosure
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