How To Stop Foreclosure Process | Refinance To Stop Foreclosure

Before you dive head first into defaulting on your mortgage, consider all of your options carefully and get as much help as possible from the many people and institutions available to you. First of all, the bank does not want you to foreclose and put you out on the street. This is bad business for them and they should not necessarily be looked at as the enemy. They have a vested interest in keeping you in that home, so your best bet is to continue to negotiate with them at all costs. 

Second, the government recognizes that many people in America are in danger of foreclosure and have set up programs which are constantly evolving to help you stop foreclosure process and keep your home. Take a moment to breathe deeply and think about how you can avoid this dangerous situation, save your home and move on to the next chapter of your life.

• Have you spoken with your lender about refinancing to stop foreclosure? Usually everything is negotiable and there might be a deal available to make paying off your mortgage each month more manageable.
• Have you considered taking out a loan to stop foreclosure? Many people use things like auto loans to pad their income just enough during a difficult stretch to help make their monthly mortgage till things get better.
• HAMP is a series of government programs that focus on helping people from different income levels avoid foreclosure. Inquire with your lender or contact the Government Housing Association to see if you might be eligible.
• Many homeowners simply wait too long thinking that their problems will take care of themselves. The best thing you can do for the life of your loan is to keep communicating with your lender and develop a good relationship.

Hesitate and you lose

Don’t wait any longer if you fear that you will have to foreclose. Even after the bank declares that they will move ahead with foreclosure there are often several months to avoid this outcome. During this time you can continue to try and negotiate new terms or payment options on your existing mortgage. When you refinance to stop foreclosure it doesn’t always mean simply changing the whole mortgage payment plan. If you have a good relationship with your lender they can be forgiving on missed payments and can give you time to make up on back payments. Sometimes they will allow you to extend the terms of the mortgage meaning you might pay more in the long run but will be able to continue owning the home and make your payments.

Government HAMP

The Homes Affordable Modification Program encourages lenders to renegotiate new terms on existing loans in an effort to help you stop foreclosure. The programs have been expanding in scope since 2009 and have helped countless people keep their homes. Speak with your lender to see if your current situation of hardship might allow for eligibility into one of these programs.

Visit www.real-estate-yogi.com to find out more about ways to stop foreclosure. You can call them directly to speak with an agent one on one at 1-800-987-1397. 

How To Stop Foreclosure Process, Foreclosure Stopping Guidelines

If you currently own a home and have a mortgage then you should feel proud. This is a great accomplishment. However are you aware of how quickly life can turn upside and cause you to lose your home? Perhaps you made it through the most recent housing crisis, or took advantage of the great deals that were a result and now own a home for the first time.

However, those that are facing foreclosure think back to when they first bought the home and realize that losing it was the furthest thing from their mind. They spent little time planning ahead in order to stop home foreclosure. Not only do you lose your home, but the hit to your credit can be catastrophic and crush your chances of owning a home in the future. Why do people end up dealing with the threat of foreclosure?

• Death in the family, or a sudden illness or expensive medical emergency.
• Divorce, job loss or unexpected unemployment, or the loss of a second income.
• Excessive debt obligations from things like credit cards or loans.
• The inability to pay an adjustable rate interest rate that has gone up.

Plenty Of Risks

There are many other risks which lead to foreclosure that you need to be aware of during your years of homeownership. It is likely in your lifetime that you will have to pay medical fees of some kind. This is just a matter of playing the percentages. With the job market always in flux it is very possible that you may lose your job or suffer through an unexpected reduced salary. If you decided to go with an adjustable rate mortgage than at some point the interest rates from your lender will probably go up. Will you be able to afford these new rates if you can’t negotiate to a fixed rate? With home ownership it is sound advice to expect the unexpected just to be safe. Losing your home to foreclosure can be a disaster, so you must learn how to stop foreclosure on your home if you ever face this crisis.

Don’t Make Your Lending Company The Enemy

One of the best ways to avoid foreclosure is to prevent your lender from filing a Notice of Default. Lenders are not the enemy and do not want to foreclose, but they have to protect their interests if necessary. If you speak with them at the first sign of trouble they will help advise you on how to stop home foreclosure, and whether there might be room to negotiate. Government programs under the Homes Affordable Modification Program encourage lenders to renegotiate new terms on existing mortgages, so it might be possible to create an entirely new mortgage that is more affordable for you, and prevents lending companies from losing money on the overall value of the home. Lending companies may agree to wait before taking any legal action against you. Especially if you have honored your contract perfectly thus far, mortgage lenders sometimes cooperate with your own repayment plan. This is called forbearance.

If you are facing foreclosure prompt immediate attention is needed to address the problem. Visit www.real-estate-yogi.com to get the best help to teach you how to stop losing your house to foreclosure. Call them directly at 1-800-987-1397 for a consultation.

How I Saved My Home From Foreclosure

Last year my family and I were met with some serious decisions. I had been laid off the year prior and was on unemployment. My wife was a school teacher, but her salary combined with the money I was getting through unemployment was not enough to keep up with the mortgage payments on top of utilities, food, and clothing for my children. I didn’t want to see my children dressed like characters out of “Oliver”, so I went to my mortgage lender and began explaining the hardship which we were under and how it was going to be near impossible to keep up with the payments. Their advisor introduced me to a number of options to stop foreclosure. Not all of these options are available per lender.

• Special Forbearance is a written agreement between you and your lender on a repayment plan for the money you owe. There will also be a plan to eventually reinstate the loan after it’s been delinquent for a minimum of 90 days.
• Mortgage modifications are sometimes offered by the lender as a means to change the structure of an existing loan to make it easier to pay. Often with assistance through the governments HAMP program a mortgage can change to make monthly payments lower or even the overall principal!
• Sometimes a lender will allow you to sell prior to foreclosure and pay off most of the remaining loan but not all of it. This saves you money and doesn’t necessarily hurt your credit score.
• Deed in lieu of foreclosure is a last resort. You might be able to give your property back to the mortgage company. It doesn’t save your home, but it helps your chances of getting another mortgage loan in the future.

Getting to know your debt to income ratio

There were other options laid out before me on that table that afternoon, and most of them came from the programs available through HUD. I wasn’t anywhere close to giving my house up at this point, but life had gotten hard for all of us and I knew that if my lender didn’t agree to make changes I would eventually lose my home to foreclosure. The Homes Affordable Modification Program was started in 2009 as an attempt to stabilize the housing market. The program itself encompasses a wide ranging demographic as there is a system in place designed to help families of all income levels. The main thing you absolutely have to prove is sudden and unexpected financial hardship.

A Letter of Hardship

I spent the next evening sitting down with my wife and going over out debt to income ratio. All of our utilities were added up, any medical expenses, money owed for other loans, car payments etc. Then we designed a “letter of hardship” which your lender will require in order to even consider refinancing to stop foreclosure. In this letter we went to every length to provide evidence that all we could afford was food, clothing, and shelter. With this detailed letter of our debt to income ratio we worked with our lender to stop the mortgage foreclosure.

I couldn't have done all this had I not found advice through www.real-estate-yogi.com on how to stop the foreclosure process. They worked with me step by step to save my home. Visit their website today or call them directly any time at 1-800-987-1397.

Stop Foreclosure: Get The Help You Need!!

How many of you have faced the terrifying prospect of losing your home to foreclosure? I have, too, and I want to share how I got through the fear and kept my home. There’s an absolutely amazing website called Real-estate-yogi.com that is full of ideas and insight about how to stop foreclosure fast, and it was a huge help to me when I didn’t think there was any way I could stop the foreclosure process. Read on to find out how much help I got just from this one website.

As soon as I got the Notice of Default, I remember thinking “I have to stop foreclosure now,” but I wasn’t sure how to do it. Real-estate-yogi.com gave me several suggestions about halting this process, one of which was to go talk to my lender to see if we could come to an agreement that would stop the foreclosure right then. Another was to look into HAMP to help me. HAMP means Home Affordable Modification Program and it was developed by the Obama Administration to help struggling homeowners. HAMP is a loan modification program, meaning that, if I qualified, some changes would be made to my mortgage loan that would result in a lower payment each month. Thank goodness, I did qualify, so that’s the option I chose to help me avoid foreclosure on my home.

If you need to stop a foreclosure today, you may want to consider filing for bankruptcy. I know, I know… no one in their right mind wants to take this step, but it’s the only way to stop a foreclosure process instantly. When you file for bankruptcy, an automatic stay goes into effect, preventing creditors from coming after you for what you owe them. Keep in mind that this is a stopgap action; it will not save your home in the long run unless you file for Chapter 13 bankruptcy, which doesn’t guarantee keeping your home.

I wondered if I could stop foreclosure for free, and it turns out that it is possible to do so. You can get all sorts of free advice about averting the process from Real-estat-yogi.com, from HUD, and from the FHA, and if you qualify for HAMP, you don’t have to put money down prior to getting your modified mortgage. With an FHA Streamline mortgage refinance, you may have to pay some loan-related fees, but that should be all.  Some qualifications for HAMP include having obtained your mortgage on or before January 31, 2009 and being able to prove a financial hardship.

I found Real-Estate-Yogi.com to be an informative, helpful website that provided me with excellent, current guidance which resulted in my keeping my home. If you’re facing foreclosure, don’t wait – contact this terrific website at 1-800-987-1397 and get the information you need to remain in your home.

Check-Out Programs To Stop Home Foreclosure!!

Today’s world is still filled with economic stress, from heavy debt to foreclosure concerns. If you’re asking yourself how to stop foreclosure on your home, you’re in luck. I’m sure you’re wondering how facing foreclosure could possibly lucky, but I was once in the same place, terrified of losing my house to the bank. When I was there, I was so scared of having to give up my home that I went online to find out if there was anything I could do to stop it. I came across this free consumer resource website called Real-estate-yogi.com and got more information than I thought could be out there. There are lots of options to prevent foreclosure. Let me tell you some of what I learned.

The first thing Real-estate-yogi.com suggested that I do when I was looking for answers to how to stop home foreclosure was to go talk with my lender. Generally, your lender will try to work with you if your history with the bank has been good. You can find out if your bank or credit union has its own loan modification or refinance program. If it does, ask which option will be best for your situation. Be ready to prove that you have a financial hardship (someone lost their job, medical problems, taking on the care of an elderly parent) and that you can handle a new, lower payment. Then decide if refinancing, in which the first mortgage loan is paid off and a new one with better terms is drawn up, or modifying, where the original mortgage is changed somewhat to give you a lower payment, is better for you. If for some reason your own bank cannot help you, there are other ways to stop foreclosure.

I chose to go through a new lender, one that participates in HAMP (Home Affordable Modification Program), to help me save my home. You simply find out which nearby credit unions or banks are part of this program and then fill out some paperwork. I chose loan modification to give myself an answer to “how do you stop foreclosure on your home?” I wouldn’t have known about this choice if it hadn’t been for my research on Real-estate-yogi.com. With my new credit union’s help, the interest rate on my mortgage was lowered by almost 40%, making my payment much less each month. I could afford the new amount without the worry and stress that I’d had before the modification. What a relief!

Real-Estate-Yogi.com is there for folks like you and me. They have thousands of fiscal and realty experts on board who can provide us with the answers we’re searching for. Give them a call at 1-800-987-1397 to get your free initial consultation. You’ll be glad you did.

How Can You Stop Foreclosure On Your Own!

Not long ago, we were facing foreclosure, and let me tell you, it was scary! I hated the idea of losing our beautiful home but had no idea how to stop home foreclosure. In desperation, I began surfing the Web, looking for whatever I could find on the subject. Almost by accident, I came across Real-estate-yogi.com, and I’m so glad I did! This easy-to-use website had all the answers to all of my questions, and I felt so much better after my visit.

Let me share some of the things I learned from this very helpful site.The answer to “Can you stop foreclosure?” is a resounding yes! It is possible, and it may not be all that difficult. There are two main procedures that can help stop foreclosure. One is a loan modification, and the other is a mortgage refinance loan. When a loan is modified, changes are made to it that will make it easier to afford. With a refinance, the entire original loan is paid off and a new one that has better rates or terms is drafted. The goal of both processes is to reduce the homeowner’s payment so they can keep their home. Real-estate-yogi.com was instrumental in our remaining in our house, and I’m very grateful to the folks there. Let’s look at more of how they helped us.

The first question I asked when I contacted Real-estate-yogi.com by phone was “How do you stop foreclosure?” I was terrified that the bank would take our home from us because we’d fallen quite a bit on our mortgage payments. I was told to look into President Obama’s Home Affordable Modification Program, or HAMP, as it’s called. This is a program specifically developed for homeowners like us – down on our financial luck, living hand-to-mouth – who are struggling to make their payments. Through modification of our mortgage, we lowered our payment by almost 40%! We were very happy about that, for sure!

Another option to make a foreclosure procedure stop is by applying for HARP, the Home Affordable Refinance Program, also sponsored by the federal government. In this situation, a homeowner whose mortgage is owned or serviced by Fannie Mae or Freddie Mac can be refinanced so he can handle the new payment. He will have to have gotten the mortgage on or before May 31, 2009 to qualify, and he has to be current on the loan. Anyone can apply for either HAMP or HARP with any participating lender, and there are plenty of them due to the enticing incentives the government offers financers.

www.real-estate-yogi.com helped my family out of a stress-inducing, horrible situation, and I am eternally grateful to the people there. This terrific site connected us to the expert fiscal professionals who could answer the questions we had –for free. Give them a call at 1-800-987-1397 for a no-cost consultation.

Government Grants To Stop Foreclosure- How They Can Help You?

Have you ever had to come up with ways to stop foreclosure? I have, because my husband lost his job, which caused us to fall behind on our mortgage. My first reaction upon receiving notice of foreclosure papers from the bank was to panic. My husband and I talked and then I went online to Real-estate-yogi.com. This wonderful website was there for me, providing me with many options. One of these was to talk to my banker to see if he could help me. He told me about getting a loan to stop foreclosure, but my credit has been so damaged by my late or missed payments on everything that I couldn't qualify for it.

My banker then told me about some government programs to stop foreclosure, such as HAMP (Home Affordable Modification Program). I had no idea what a loan modification was, but it turns out that a loan is modified when changes are made to it to make it more affordable. There is also HARP (Home Affordable Refinance Program), which can also lower my monthly payment by refinancing the mortgage. Refinancing a mortgage means that the first loan is paid off and a new one is formulated to be more affordable.

Did you know that there are government grants to stop foreclosure? I sure didn't  until I looked more closely at Real-estate-yogi.com. If you’re a single parent having a tough time, there’s a grant for you. If you’re unemployed, you have one, too. I was happily surprised to realize how much “free” money there is to help folks keep their homes. I immediately went to the government’s site to fill in my applications.

Thanks to www.Real-Estate-Yogi.Com, I was able to stop foreclosure proceedings and maintain ownership of my home. They helped me; they can sure help you, too. Give them a call at 1-800-987-1397 any time to talk over your real estate problem. A friendly and knowledgeable staff member is always there for you.

Let The Government Help You Prevent Foreclosure

The housing market has a profound effect on the economy. The consumer’s ability to buy homes using loans, and retain the financial ability to maintain ownership through the life of the loan is essential to a healthy economy. When people are forced into unfortunate circumstances such as foreclosure their finances can be hurt for years in much the same way bankruptcy affects a healthy consumer. Therefore over the past few years the government has recognized this problem and taken it head on by creating the Making Homes Affordable Program.

Programs designed to stop foreclosure

Government programs to stop foreclosure are expanding each year to include a broader spectrum of homeowners. Homeowners can now lower their monthly mortgage payments and get into loans that are far more stable and coincide with today’s low rates. Here are some programs to stop foreclosure the homeowner should consider when seeking help from the government.

• The Homes Affordable Modification Program (HAMP) lowers your monthly mortgage payments up to 31% of your verified monthly gross income before taxes. This typically results in a 40% drop in monthly mortgage payments.
• The Principal Reduction Alternative is designed to help homeowners whose homes values have dropped significantly to the point where what they owe is much more than the current value of their homes.
• The Second Lien Modification Program is for help with people who have a second mortgage on their home even if their first mortgage was already modified under HAMP.
• There is also the Home Affordable Refinance Program which allows the homeowner to refinance into a more affordable and stable mortgage. If you are current on your mortgage but were unable to obtain a traditional refinance because the value of your home has decline, then you might be eligible for HARP.

                

Programs for the Unemployed

In today’s housing market many people have lost value on their homes. Refinance options available through the government are designed to help balance the mortgage with the value of the home. The economy has also effected peoples jobs and many are now unemployed. The government also aims to help unemployed homeowners. Some unemployment programs provide temporary reduction or suspension of mortgage payments for a minimum of twelve months while you seek employment.

The FHA now requires that lenders extend the forbearance period of unemployed homeowners to 12 months. These changes to the Forbearance Program were announced in July of 2011 and remove the upfront hurdles making it easier for unemployed homeowners to apply and qualify. Losing your job and income is no longer a death sentence for mortgage payers it once was.

The Redemption Period

Remember that even after your house has been sold at a foreclosure sale there is a redemption period. During this time you can still reclaim your home but you will need to be able to pay the outstanding mortgage balance as well as all of the costs incurred during the foreclosure process. Stopping the foreclosure process is often just a matter of coming up with the money at the last second.

To learn more about government grants to stop foreclosure visit Real-Estate-Yogi.com or call one of their national agents toll free at 1-800-987-1397. They can help set you up with the right program to stop foreclosure.

Stopping Foreclosure on Your Primary Residence

I recently retired. But I used to work for a mortgage lending company. I helped my fair share of people buy and own their first homes. I helped make many families realize a dream. However, because of certain unenviable circumstances in their lives several of my client’s dreams became foreclosure nightmares.

During the beginning of our most recent economic depression, when a home owner came to me to discuss alternatives to foreclosure, the options were limited. I didn't want to face a foreclosure because it meant my company was going to lose a lot of money. We would have to try and resell the home at a substantially decreased value. Plus we knew we were adding to the pile of former homeowners walking around with bad credit. That’s not good for business. However, it seemed the only option was bankruptcy if another loan was unavailable.

Towards the end of my career our options as lender and borrower began to open up. I was able to help far more families save ownership of their homes and stop foreclosure. I left the business feeling much better about the future of the housing market. Here are some things every homeowner should know.

• Government programs such as HAMP stop home foreclosures regularly now. Research your financial situation and see if you might be eligible.
• It is no longer necessary to have good credit to secure a loan for enough money to get you through a tough period. Many companies now offer loans with limited, or no credit check necessary.
• Bankruptcy is always a last resort and does Stop Home Foreclosures from happening sometimes. It is a final option usually.

Government Aid and HAMP

In 2008 my lending company and others of its nature were losing money. We were also losing clients because there were less and less people to offer our mortgages too. HAMP was created the following year, and since this time we have renegotiated certain mortgages that were in danger of falling to foreclosure. HAMP has grown in scope to include varying degrees of financial hardship. The main thing to keep in mind is that it too is typically a last resort. Eligibility is only given to homeowners who have fallen into unfortunate financial situations.

Auto Refinancing

Many people use a second mortgage, or another loan to help pay off a mortgage. However, what about the homeowners who have low credit scores and can’t secure another loan? Auto refinance loans are a great way to stop foreclosure if all you need is a little extra money to keep you afloat. If you feel your situation is temporary and money will be there in the long run, seek an auto loan. You need not worry about bad credit scores.

Bankruptcy

Bankruptcy, particularly chapter 7 and chapter 13 have long been associated with stopping foreclosures. They are typically a last resort and can remove you from the immediate threat of debts. However, there are immense risks associated, and great care should always be taken before choosing bankruptcy. Hire a bankruptcy lawyer to help.

A website I often visit for advice regarding problems with real estate debt is Real-Estate-Yogi.com. They can get you up to speed on ways to stop foreclosure and loans to help pay off existing mortgages. Call 1-800-987-1397 for a free consultation.