Nation Foreclosure – Page 4 – Foreclosure homes up for bid

Tips

homes in foreclosure

Post author By adminnfc
Post date August 11, 2011

The foreclosure crisis that we are currently witnessing is one of the greatest economic tragedies that we have seen in America in modern times. Millions of people are getting kicked out of their homes, and the U.S. government and mortgage lenders are providing little to no real help. It is a real shame to see so many American families get dumped out on to the street because of the greed of a few. And unfortunately, foreclosures in the United States continue to set new records. The number of foreclosures set another all-time record for the second consecutive month in May. In addition, the number of newly initiated foreclosures rose 18.6 percent to 370,856 during the first quarter of 2010. What that means is that the foreclosure crisis is getting even worse. Tens of millions of Americans desperately need foreclosure help, but pretty much nobody seems interested in helping them. Foreclosure horror stories are multiplying as large numbers of American families are struggling to pay mortgages that they didn t understand and couldn t afford in the first place. Unless someone steps forward to help the tens of millions of Americans that are in danger of foreclosure, the tragedy is going to end up being unspeakable.

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Tips

homes foreclosure

Post author By adminnfc
Post date August 10, 2011

Prioritize your spending. Keeping your home should be one of your top priorities. Be sure to avoid unnecessary purchases.

Consider selling your home without foreclosure. Sometimes, servicers will delay foreclosure proceedings if you have put your home on the market. If your home is less valuable than the amount of your loan, your servicer may allow you to sell your home at a loss, and forgive the rest of the loan (you could, however, owe income tax if you choose to go this route and should consult your tax advisor).

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Tips

home foreclosures

Post author By adminnfc
Post date August 9, 2011

Be wary of potential scams. There always are people willing to take advantage of desperate individuals to make an easy profit. Never sign a legal document without reading it and being sure that you understand it. If you do not understand something, it is wise to seek trusted professional advice from an attorney or a HUD-approved counselor. (See

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Tips

home foreclosure process

Post author By adminnfc
Post date August 8, 2011

Know your mortgage. Review your loan documents to determine your rights and obligations under your mortgage. If you can

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home foreclosure help

Post author By adminnfc
Post date August 7, 2011

* Before you talk with your servicer, write down the specific problems you are having with your loan. What caused you to have difficulty in keeping up with your payments? Is the problem permanent or temporary? What solution would you like to reach?
* During the foreclosure prevention process, be sure to document all discussions you have with your servicer (e.g., write down the date, the name of the individual you spoke with, and the outcome of your call). Additionally, be sure to follow-up all telephone requests with a letter to your servicer. Finally, be sure to meet all deadlines provided to you during the process.

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Tips

home foreclosure

Post author By adminnfc
Post date August 6, 2011

Communicate with your loan servicer. For some, the temptation may be to ignore communications from your loan servicer. Instead, be sure to talk with your servicer and let him or her know that you are having trouble making payments. A recent survey indicated that more than 50 percent of borrowers facing foreclosure do not discuss payment or modification options with their servicer. Some servicers will work with borrowers to help them avoid foreclosure by making their payments more affordable. If you ignore the problem, it will almost certainly make it worse. When discussing your loan with your servicer, be sure to do the following:

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Tips

help with foreclosure

Post author By adminnfc
Post date August 5, 2011

The prospect of losing your home to foreclosure certainly would be a terrifying experience. In the event you are having trouble keeping up with your mortgage payments, here are several suggestions to help avoid foreclosure.