08.16.08
Posted in Foreclosures at 11:33 pm by Administrator
1. Do NOT ignore the lender.
Most Lenders DO appreciate your communication with them if you are
having problems keeping up with your monthly payment especially when
your problems stem from bonafide reasons like the loss of a job or
health issues. Banks really do want to help you out since they want your
payment not your house. If you can’t deal with talking with creditors there
are also professional foreclosure negotiators available for you to use.
2. Do NOT stop making your monthly mortgage payments.
Let’s say you miss a payment and the second months payment is due.
If you have the money for a payment during the middle of the second
month don’t refrain from sending a payment in because you owe two
payments total. Send in the one payment because if the lender sees
you are showing an effort to pay then foreclosure proceedings will be
delayed. If you can keep in contact with the lender then you can
delay until you can get on track.
3. Do NOT spend your mortgage payment on other bills.
You may be getting frequent calls from other creditors for credit
card payments or other ‘non-essential’ bills but when it really comes
down to it you need to decide if you want to save your credit
cards or your house. Spreading out your payments on several bills may
hurt you in the long run because of accruing multiple monthly payments
on your mortgage.
4. Do NOT fail to have a Home Equity Line of Credit in place !
Before you start having any payment problems at all make sure you set up
an equity line of credit. If you need a bunch of cash to stave off
foreclosure with a huge payment then this will be something that may save you!
5. Do NOT fail to accrue savings for an emergency!
Most people have a problem with putting money away for savings but if
you put a little away with each paycheck then over time that savings may
come in handy when you need it most to save your house.
This technique requires a lot of discipline but has long term benefits!
Permalink
Posted in Foreclosure Survival Handbook, Foreclosures, Latest News at 1:21 pm by Administrator
The number of US foreclosure filings have skyrocketed lately
due to the impact of the dramatic decline of the housing market.
The combination of dropping home values, weak housing sales, tougher mortgage lending criteria and a slowing U.S. economy has left homeowners that are strapped for cash with few options to avoid foreclosure. Many can’t find buyers or owe more than their home is worth and can’t refinance into an affordable loan.
With the number of foreclosure notices hitting a record 272,000 homes that equates to one in every 464 households that received a notice. Such is the backlash of the recent mortgage crisis. 77,000 properties were repossessed
by lenders. Don’t let this happen to you. How can a situation like this be
prevented?
You need to determine if foreclosure is inevitable or if there is a way to avert
that much feared direction. To really find out what you’re faced with we have a Handbook that can help determine that.
With our Foreclosure Survival Handbook we discuss ways to stave off foreclosure, some things to consider when deciding if you should file for foreclosure, and how to
regroup if foreclosure is inevitable.
On this blog we are going to provide whatever resources we can to help you navigate through the mess you might be in.
http://www.pangearecommends.com/foreclosure/
Last month President Bush signed into law housing legislation that would allow homeowners to trade their mortgages in for a more affordable loan only if the lender agrees to take a loss on the initial loan. This is one way to prevent foreclosure and hopefully with this program becoming successful the number of foreclosures could stabilize as early as the beginning of next year.
Permalink
08.15.08
Posted in Foreclosure Survival Handbook, Foreclosures at 10:46 pm by Administrator
“Discover in the next 20 Minutes the Tactics Necessary to Stop, Stave Off or Extinguish Altogether a Foreclosure Situation before You Lose More Than Your Home.”
1) Assess Your Situation
In Part 1, we will take a complete assessment of your current situation so that you know what you are capable of negotiating for a total win-win situation.
2) Action Steps and Plan
In Part 2, we will discuss the order of things that need to happen and who to contact right away. You may have options at your disposal that could allow you to continue living in your home.
http://www.pangearecommends.com/foreclosure/
Permalink
08.13.08
Posted in Latest News at 6:41 am by Administrator
We here at the Pangea Book Shop want to recommend to you
the Best of the Best Info available online !
Whether its the Best Mortgage strategies, Real Estate Info, Parenting Information
or even how to keep your house uncluttered !!
We offer the best information for whatever you need.
Just check our category list!
Permalink
