SAVING A HOME FROM FORECLOSURE

We are living in unprecedented times- a recession that has changed the face of the American economy and the dream of financial security that was in the fabric of our country since its foundation.

In the frightening days since the collapse of Bear Stearns and the unraveling of the mortgage industry, we have seen real estate values plummet, investment accounts shrink and plans for early retirement vanish.   And many families are hearing the footsteps of the local marshall approach as their houses are being taken to foreclosure auction.


How do you stop what seems to be an inevitable catastrophe?  I have spoken to hundreds of home owners whose loans are in distress. The overwhelming majority mention that they have tried for a loan modification- and they are still waiting for an answer- often six months to a year later.  To see the actual performance of this program , go to our web site:
http://www.wehelphomesellers.info/Loan_Mod_stats2.html .

If your attempt at a modification fails- or there is simply not enough time to wait for the bank's answer- and your payments are unmanageable, you face several possible paths of actions:

• Do nothing : this will bring the inevitable foreclosure and all the nasty things that come in its wake. 
• Attempt to sell the home to a cash buyer (if there is equity in the property) and use the proceeds to buy a new home or scale down to an affordable rental.
• Consider a "short sale" - see our web site for a complete explanation http://www.wehelphomesellers.info/Short_Sale_FAQs3.html 
• Consult an attorney about protecting your home within the bounds of a bankruptcy filing.  

Whatever your situation, seek capable professional help, determine a course of action and stick to it.
Please feel free to consult me -either by e-mail or phone -if I can be of assistance.
Meir