how can i stop foreclosure on my home with little or no money to work with,am in texas and 5 payments behind?

Posted on April 27th, 2009 by Fred

all the stop foreclosure sites want money up front but am really not sure they can really stop foreclosure

Take a look at this page for more detail on some of your options!!!!

You need to do something quickly before your options run dry.

Will my credit report say a foreclosure?

Posted on April 27th, 2009 by Fred

if I pay off my home by a sale before the Sherrif sale date for a public auction? I received a letter that gave me until Jan 2nd to pay off the mortgage or stop the foreclosure by a repayment plan or paying what I owe past due. If my house is sold before then and I pay it off, what will it reveal on my credit? A payoff? or a foreclosure?

It will say that the loan was paid. Sometimes, the bank may report that the loan was paid but foreclosure proceedings had started. That just means that other creditors will be able to see that you went into foreclosure but got the loan out of the process and paid it off.

How many times can you let a house go into foreclosure?

Posted on April 27th, 2009 by Fred

I own three houses. How many times can i let house go into foreclosue? Would the bank just stop letting me come up with payments late,and call in the loan?

You can let your house go into foreclosure as many times as you run out of money to pay the mortgage for a period of months. The bank will wait until you are usually 3-6 months behind, and then start to file the foreclosure paperwork in court. If you pay them back before the property is auctioned off, then the foreclosure process has to stop.

It is unlikely that the bank would just stop taking any payments from you at all and call in the loan. After all, your original mortgage contract states that you have to pay a set amount of every month or incur penalties and other charges if the house is foreclosed on. There's nothing in the loan documents that would allow them not to take your payments any longer.

It would also be difficult for them to prove to a court that they are entitled to anything besides your monthly payments if you can make them and pay back any amount you are behind. just because you fell behind in the past does not mean that the bank can just give up on the loan completely — as long as you made up the payments later on, they got everything they were due, plus a lot of interest charges and late fees.

In fact, if your houses are going into foreclosure or falling behind quite often, but you are able to pay back the arrears eventually, then you may be a good client from the bank's perspective. With all of the extra fees they are charging you when you miss a payment, your effective interest rate may be much higher than you think, which translates into higher profits on your loan for the lender.

Of course, that might also be a good reason to try and keep up on the payments at all times, or just let one house go if it is not affordable. Selling or giving the bank a deed in lieu of foreclosure on one property might let you off the hook on it, while allowing you to keep the other properties and make the payments a lot more consistently.

Hope that helps.

How can I stop my home foreclosure asap?

Posted on April 27th, 2009 by Fred

Home to be sold within 30 days I believe. How do I stop this process? I need help!

Bankruptcy will not stop a foreclosure, it is secured debt attached to the house. depending on your state laws and foreclosure process it can take up to a year (it does in Michigan) but in many states the redemption period is only a few weeks. Now is a good time to contact your lender, ask for a "letter of forbearance" or possibly a loan modification – if your credit has not been destroyed this may be your best option. Next I would look for a reputable investor or two and see if they can help. if none of these options work then it is time to call a realtor. Look in your local paper for the biggest ad you can find – why you ask? if they can afford to run a big ad week after week they are probably selling some houses – make sense?


Stop Foreclosure Help | Loan Modification |

Posted on April 5th, 2009 by Fred Helps You Stop Your Foreclosure Fast. Save Your Home NOW. Free Consultation and GUARANTEED Loan Modification Services. Call 480-456-4700 NOW

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Should I pay my lenders lawyer to stop foreclosure or can i find a CHEAPER lawyer to stop it?

Posted on April 5th, 2009 by Fred

Your question makes no sense.

Your lenders lawyer represents the lender, not you.

i need advice on how to stop foreclosure please?

Posted on April 5th, 2009 by Fred

I am looking for anyone who would have any advice on foreclosure matters. I was just served with a default of payment notice from an attorney concerning my home loan, the attorney has asked me to write a proposal with the due date being the 16th of this month. however i do not know what a proposal consist of and there is no one at the office all week.
i was also wondering if there is a reinstatement period after a default of payment has been issued and how long does that give me? they have not listed my house in auction or in the paper as of yet. but the bank will not speak to me.

any advice at all or personal experience please i am residing in canada and i truly wish to keep my home all the default payments can be made i just need another month or so that is why i am asking about how long the reinstatement period is after default has passed.

thank you 🙂
the lawyer is out of the office all week so i cannot ask him.

also i have made arrangements with my bank and have talked to them but when i went for my chemo for my cancer i missed 2 of my arrangements now i have to go through this lawyer not the creditor who happens to be gone all week of my deadline. my payments have always been on time for the last 5 years its just now, i got sick 🙁

I recommend that you talk to your own attorney.

right now I understand that in many parts of the world, including Canada that real estate market is not good.

The lender is better off with a performing mortgage than your house.

If you have the lender talk to your attorney, then the lender will know that you are serious.

the people at the bank are usually just minimum wage salaried people who do not care what happens one way or the other.

I recommend that you hire your own attorney who specializes in this area.

is it ever too late to stop foreclosure

Posted on April 5th, 2009 by Fred

we really don’t want to lose our home and at first had this defeated attitude now we are realizing we have more options than we thought. is it too late to act on them? the foreclosure process started in april or may and we live in ohio if that helps. we went to court about a month and a half ago or so with the option of reinstating our loan but we haven’t turned the proper paper work in yet. what would be some good steps to take from this point to save our home? thanks.

It’s only too late when your redemption period expires.

However, the closer that deadline is, the less likely you are to get good results.

You’re in a fairly long timeline state, so that is good.

However, getting these situations reversed is a LOT trickier than if you’d been able to do something before the court date.

Based on what borrowers are telling me, most homeowners who call during this time frame are being told that they need to pay off the loan in order to keep the home.

Depending on the type of loan you have, this may or may not be true.

The fact is, most servicers are doing everything they can to AVOID doing a lot of work… and files with your circumstances require much more work than a loan that’s 30-60 days late.

There are two keys here:

1- Putting together a package that looks GREAT. [Just “turning in the paperwork” is not enough to get the best results. See the case study below to see what I mean.]


2- Getting that package in front of the right person

If you send it through the normal channels, it’s likely to get ignored because of all the factors at play here.

We’ve successfully reversed sales and while I haven’t posted a case study of one yet, you can go here to get an idea of the kind of results we get:

If you’d like to get in touch, click on my contact name and send me an e-mail.

Good luck.

How to stop a foreclosure?

Posted on April 5th, 2009 by Fred

I was diagnosised with cancer in April of this year and have to undergo to different surgeries thus causing me to lose my income. Due to the excessive medical bills we are currently behind on our mortage payments and are facing a possible foreclosure. Is there anyway to keep our home and be able to get our payments back on track? We are finally getting back on track but still cannot make the back payments. We are still living on my husbands income alone. Help!!! I have no idea what to do or where to go for assistance. We have 3 children and do not want to lose our home. I have checked here locally for assistance and have come up with nothing. Any suggestions would be helpful. Thanks and God Bless!

In order for your lender to be of some help to you, the situation that cause or is causing you to be in foreclsoure has to have changed.

In order for your lender to be of help to you you need to call them and explain your situation to them. Ask if they can be of any help to you so as not to lose you home.

Ask them for a forebearance agreement. This agreement will basically call for you to make the back payments up in small monthly payments at a payment you can do in addition to your regular monthly payments.

This agreement can last from 24 months to some where around 48 months. Make the best deal you can so you can afford the two payments that you will be required to make.

It will be sort of like you now having two (2)mortgages

They might also have other programs for you to consider, so make sure you ask if there are others. If you don't get the response you want from the first person you speak with ask for a manager. Failing to reach an agreement with a manager ask for a supersvisor.

You have to remember the mortgage company does not want your house. They are in the business of lending money not managing or selling houses. They already know you and would rather keep you as a client. Keep asking for someone until they agree to make an arrangement with you.

I hope this has been of some use to you, good luck.