FIGHTING FORECLOSURE

Your Four Options

 

If you're upside down on your home or investment property you've really only got four options.

 

This book is not designed to promote any one particular option over another, only to help you understand them and access resources to exercise them safely and usually for FREE.

 

I've helped a lot of people escape foreclosure and I'm going to do my best to help you as well.

 

Your options are:

 

1. Do nothing and let the bank foreclose. Many people get mad at the bank and exercise this option, not knowing that the bank makes money on the whole deal regardless. That's right, makes money!

 

2.  Somehow get the bank to agree to lose money by modifying your loan.  There's suggested Government guidelines they may consider. See HAMP above.

 

3.  Do a short sale. Have an experienced short sale Realtor sell your home at today's market value or less and let them negotiate to pay all the sales costs, eat the loss and release you from any future liability or deficiency judgments, thus avoiding a foreclosure on your credit report. Did I mention for FREE? This is a better plan than getting mad at the bank.

 

4. See if your lender will allow a deed-in-lieu of foreclosure. With a deed-in-lieu, you could voluntarily transfer ownership of the property to the servicer, provided the title is free and clear of mortgages, liens, unpaid HOA fees or other encumbrances.

 

Whether you're current on your payments or months behind, I'll tell you exactly what to do next if you want your bank to seriously consider accepting tens or even hundreds of thousands of dollars less than is owed them and agree to pay all of the costs and fees associated with the sale of your home through a real estate short sale.