Ways to Stop a Foreclosure and Stay in Your Home For Free Indefinitely Even When Nothing Else Worked

There are a number of ways you can delay foreclosure and by reading on you will learn many ways to stop a foreclosure. By doing this right you will be able to stay in your home for a very long period of time without making mortgage payments. Just make sure that you know how to deal with every situation and use the legalities behind the foreclosure process.

Obama’s Mortgage Modification Program is not really working as it should be. More than 90% of homeowners here in the U.S. are now facing possible foreclosure and are not being considered by this program because they are failing the requirements to qualify.

There are ways to stop a foreclosure and delay the procedure so you can stay in your own property for a longer period of time. This is actually easy if you have the correct information at your disposal. You can even do it by yourself without a lawyer. One thing to keep in mind is to never sign any document about it and to never leave your home behind.

A lot of people are victimized by scammer during this vulnerable period of the process. You will be surprised that a lot of homeowners get scammed by being offered a short sale or a quick fix to this problem. These won’t save your home so beware of predators taking advantage of the situation that you are in.

Here are some tips that you may use to delay the foreclosure process:

Answering the foreclosure Notice:

A hardship letter is definitely one of the most used strategies not only used to get considered for mortgage modification but to get you more time in your home or property.

Use all time that you may get:

First avoid the receiving of the foreclosure notice for as long as you can. This little tip can get you months in your house. If they can’t get you to sign the letter, they will have to use other means to proceed.

If the summon has already received, then you have approximately 20 days to reply to the foreclosure notice sent by the court. Don’t reply immediately, wait about two weeks or so before your answer the notice.

By doing this you get an additional month or so that you can use to plan ahead. Keep in mind that this notice needs to be signed and received by a member of the household to be legal. Knowing this would be a great advantage for you.

A Hearing:

After exhausting some preliminary options you can request for a hearing. Requesting a hearing in your local Circuit Court would also give you additional time. Some very informed people have used this strategy effectively to stay in their homes for up to a year.

Closing Contracts.

There are other very effective strategies to delay the foreclosure process like revising your housing contracts for errors. Most Closing Contracts contain errors and mistakes and if used properly this could stop the foreclosure process right on its tracks for even more that a year.

Knowing the ways to stop a foreclosure is just one part of it. Knowing what to do in the right situation would delay the foreclosure process for more than 3 years. These tips have been proven useful by other homeowners and you too can start using these strategies to stay in your home longer.

The Pain of Foreclosure – Ways to Help Ward Off the Humiliation of ‘Kicked Out From Your Own Home’

An increasing amount of householders dealt with property foreclosure resulting from past due mortgage repayments. Perhaps your very own property is in danger being taken away as result of foreclosure? Often the question of “How can I avoid the foreclosure process right now?” may loom ominously inside your mind. Think about the home you love so much, and worked so hard for. You must save it, but how?

Obviously, as long as you pay you mortgage installments on time, you don’t have any problem. But what happens if the economic slowdown or different unavoidable factors made you default in some of your payments?

In this event, foreclosure would have to follow at the end (if you don’t find a way to get back on track, which is exactly what I’m going to show you how to do!). What else could you do? You are in need of some good and proved methods to avoid or cease foreclosure, and here they are:

First, Use the Part Claim Option

This can be an effective way on your way to avoid foreclosure. It gives you the option to re-finance the mortgage loan by advancing some cash on behalf of the provider. These claims will not include interest payments, and will be paid only till the home is no longer owned by the lender, or up to the stage where you repaid the 1st house loan.

Second, Apply for modification of the mortgage terms (Also regarded as mortgage loan modification)

A. You can also pick the Indy-MAC Program. This also will be based around thirty eight percent of the HTI (House to Income) proportion, and lowered to only 31%. In this type of program, the interest rate is lowered to three percent and the time frame of repayment may be expanded up to forty years. This can ensure it is a lot easier for you to cope with obligations and prevent foreclosure. You need to pay one payment due before this plan is started. You could only utilize this plan in case you are still residing in your home.

B. The Freddie Mac Program (AKA The Fannie Mae Plan)is much the same technique as SMP however it is fast-tracked. The goal it to enable property owners to make their own mortgages affordable by decreasing interest levels to 3% or less, and extending the repayment time period. In order to utilize this program and prevent foreclosure you must qualify.

C. You are able to get a streamlined loan mod program (SMP) by which you will pay the provider 38% from the gross cash-flow. This is definitely one of the foreclosure remedies. In order to convert your personal mortgage to the SMP plan, you have to pay at least 3 sequential payments on time. This really is one powerful way to evade and halt foreclosure.

There are other means that are just as effective as the above for stopping foreclosure. Forbearance, for instance, is one of them. Considering the fact that different ways to stop foreclosure are offered to home owners who’re currently not capable of making payments due to job loss (possibly), demotion, or god forbid – passing away of someone in their family, you only need to pick out carefully the means that can work for you.

Now that I shown you that remedies and solutions are around – Take Action Right Now And Get Rid Of That Dread Associated With Foreclosures!

4 Ways To Stop Your Foreclosure

Going through a foreclosure in St Louis can be a very stressful and painful process especially if you have no idea what to do about it and how to stop it. But before you can understand how to stop a pending foreclosure you must understand how the foreclosure process works in Missouri.

How a Foreclosure Does It Work?

Missouri utilizes the non-judicial method of foreclosing on a property. What is a non-judicial foreclosure you ask? A non-judicial foreclosure does not involve the courts but it does require a notice as to when they are going to foreclosure. When you first signed the loan agreement for your mortgage, one of the things you signed is the deed of trust. The deed of trust gives the lender the right to foreclose on the property if a default of payments were to occur. One of the items in the deed of trust is what’s known as the power of sale clause.

The power of sale clause allows the lender to sell the property in order to satisfy the remaining debt on the property. The sale usually happens in the form of an auction. Because Missouri is a non-judicial state there are very strict rules about notice requirements and legal documents are required to contain the power of sale language in order to execute this type of foreclosure method.

Mandatory Items For The Power of Sale Notice

1. There must be a notice in the local newspaper publication at least twenty times continuously every day leading up to the day of the auction in a city of 50,000 people or more. In other parts of the state the notice must run 4 consecutive weeks no earlier than a week before the auction. Notice requirements are reference in Missouri Revised Statutes Chapter 443.320.

2. The lender must give you notice 20 days notice before the auction takes place. They must notify you of the date, time and location the auction will take place. Sale requirements are referenced in Missouri Revised Statutes, Chapter 443.227.

How To Stop The Foreclosure From Happening

Now that you have a better idea of how the foreclosure process works in Missouri and more specifically in the St Louis & St Charles area you will now have an even better understanding of how to stop it. Here are the four fastest ways you can stop your pending foreclosure.

1. Refinance. Refinancing is always in your best interest if you can qualify. Make sure you apply for the refinance before you are late on your mortgage payment. Once you are 30 days late on your house payment the damage may have already been done and your credit score may have dropped too low for you to qualify.

2. Don’t List Your House Yourself. List It With a Realtor. Too many times I see homeowners who are on the verge of losing their home try and list the property themselves. If you decide to list your house make sure you hire a professional agent. Agents will get your house sold 50% faster and often times within 90% of your asking price. Make sure you have enough equity in the house to be able to pay your agent. Remember, agents are NOT free.

3. Sell Your House Fast With An Investor. You’ve seen them all over town the “We Buy Houses” guys. Be careful with some of these people though. They advertise that they have cash and often times will make offers on a property and never close. Make sure they give you a deposit up front and set a fast closing date. If they are stalling on the closing date, then they probably don’t have cash to buy. Be careful!

We on the other hand have cash to close on your property in five days. We are experienced home buyers who will give you a CASH OFFER in 24 hours. We can close on your timeline and will often times pay the closing costs.

4. Short Sale. This has become a very popular exit strategy the last couple of years for hundreds of thousands of homeowners across the country. To keep it simple a short sale is when the bank will let the homeowner sell the property for less than what’s owed on the property. This can be a very lengthy process but nonetheless once the short sale process has started it will immediately freeze the foreclosure process. You may be wondering how to get a short sale started.

In Review:

Foreclosure Process

1. Homeowner is 120 days late on payments

2. Bank notifies homeowner of auction – 20 days before sale date

3. House is sold at auction and if property doesn’t sell…

4. Bank takes back property and will list with an REO broker

How to Stop Foreclosure

1. Refinance

2. List With Professional Broker

3. Sell To Investor

4. Short Sale