08.16.08
Don’t let the high number of foreclosure filings affect you!
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.
