7 Free Foreclosure Tips for Homeowners
Learn what the lenders don't want you to know. Underground secrets exposed.
Proven techniques that work very effectively. Know what to say and ask for.
Some great news for borrowers based on the current economic situation. The lenders want to lessen and or avoid the rising foreclosure actions by closely working with the borrowers.
Anything less, and the borrowers will quit paying with the property being forced into a foreclosure action of which neither the borrower and or lender wants. Most homeowners are caught in a situation were due either to a change in their life, divorce, health and or employment situation.
Currently most lenders have a huge supply of foreclosed properties that are in litigation and or they have already taken back (REO), and really are really trying not to reclaim any other new properties at this time or in the near future.
Free Foreclosure Tip #1Delay Adjustable Rate Mortgage
Assuming that you are still able to continue making the original mortgage payment, to contact the lender and request an extension of two additional years for the reset of the adjustable rate. This will give the borrower additional time.
Free Foreclosure Tip #2 Forbearance Agreement
Assuming that you are still able to continue making the original mortgage payment, to contact the lender and request a reinstatement of the loan based on the borrowers improved financial situation with a forbearance agreement.
The lender is looking to make sure that the borrowers can still make the original monthly payment. Next they are looking for an amount put down against the balance due now, and the ability to makeup the remaining difference monthly for the next 6-12 months. Do not agree if you are unable.
Free Foreclosure Tip #3 Loan Modification
Assuming that you are still able to continue making the original mortgage payment, to contact the lender and request a reinstatement of the loan based on the borrowers improved financial situation with a loan modification agreement.
If the borrower can resume making the payments but does not have any extra money to pay down or monthly, the lender will consider placing it on the end and modifying the loan.
Free Foreclosure Tip #4 Rent To Own
Assuming that you are still able to continue making the original mortgage payment, but it is either a stretch and or you are not able to sell the property now for what is owed.
The borrower cannot keep up with it all, and doesn't want to lose the property to foreclosure and or give it away. They may consider moving out and finding a renter to cover their mortgage payment, and or the seller can sell later it later when the market improves.
Free Foreclosure Tip #5 Wholesale Agreement
Assuming that you are still able to continue making the original mortgage payment, but it is either a stretch and or you are not able to sell the property now for what is owed due to its condition.
It does have some equity, but is in need of lots of repairs. You can list the property. In its condition, it is not attractive to the average retail buyer.
In a situation as such, in may be best to market to a real estate investor that specializes in buying at a wholesale price, fixing it up and reselling. You will get less than you may want, but can payoff the debt and avoid a foreclosure.
Free Foreclosure Tip #6 Short Sale Payoff
Assuming that you are no longer able to continue making the original mortgage payment, and you are not able to sell the property now for what is owed due to its condition, and also a declining market value.
It has negative equity, and the borrower is up side down. The property is in need of lots of repairs, and there are liens and back taxes owed. You can list the property, but in its financial condition, it is not attractive to the average retail buyer.
In a situation as such, in may be best to market to a real estate investor that specializes in buying from the lender at a short sale payoff, fixing it up and reselling. You will get the debt paid off and avoid a foreclosure. Typically the lender will show the property as paid off for less than what is owed and will not pursue a deficiency judgment nor portray as a tax gain.
Free Foreclosure Tip #7 Deed in Lieu of Foreclosure
Assuming that you are no longer able to continue making the original mortgage payment, and you are not able to sell the property now for what is owed due to its condition, and also due to a declining market value.
The borrower cannot keep up with and doesn't want the property. It has negative equity, and the borrower is up side down. The property is in need of lots of repairs, and there are liens and back taxes owed.
In a situation as such, in may be best to talk to you lender about taking the property back as a deed in lieu of foreclosure. Typically the lender will peacefully take the deed from you in lieu of dragging out the foreclosure process. Show the property as paid off for less than what is owed and will not pursue a deficiency judgment nor portray as a tax gain.
These Free Foreclosure Tips will assist the borrowers with any pending foreclosure issues. To learn more about the Truth of Real Estate regarding foreclosures, please visit the website Thank you…
Learn what the lenders don't want you to know. Underground secrets exposed.
Proven techniques that work very effectively. Know what to say and ask for.
Some great news for borrowers based on the current economic situation. The lenders want to lessen and or avoid the rising foreclosure actions by closely working with the borrowers.
Anything less, and the borrowers will quit paying with the property being forced into a foreclosure action of which neither the borrower and or lender wants. Most homeowners are caught in a situation were due either to a change in their life, divorce, health and or employment situation.
Currently most lenders have a huge supply of foreclosed properties that are in litigation and or they have already taken back (REO), and really are really trying not to reclaim any other new properties at this time or in the near future.
Free Foreclosure Tip #1Delay Adjustable Rate Mortgage
Assuming that you are still able to continue making the original mortgage payment, to contact the lender and request an extension of two additional years for the reset of the adjustable rate. This will give the borrower additional time.
Free Foreclosure Tip #2 Forbearance Agreement
Assuming that you are still able to continue making the original mortgage payment, to contact the lender and request a reinstatement of the loan based on the borrowers improved financial situation with a forbearance agreement.
The lender is looking to make sure that the borrowers can still make the original monthly payment. Next they are looking for an amount put down against the balance due now, and the ability to makeup the remaining difference monthly for the next 6-12 months. Do not agree if you are unable.
Free Foreclosure Tip #3 Loan Modification
Assuming that you are still able to continue making the original mortgage payment, to contact the lender and request a reinstatement of the loan based on the borrowers improved financial situation with a loan modification agreement.
If the borrower can resume making the payments but does not have any extra money to pay down or monthly, the lender will consider placing it on the end and modifying the loan.
Free Foreclosure Tip #4 Rent To Own
Assuming that you are still able to continue making the original mortgage payment, but it is either a stretch and or you are not able to sell the property now for what is owed.
The borrower cannot keep up with it all, and doesn't want to lose the property to foreclosure and or give it away. They may consider moving out and finding a renter to cover their mortgage payment, and or the seller can sell later it later when the market improves.
Free Foreclosure Tip #5 Wholesale Agreement
Assuming that you are still able to continue making the original mortgage payment, but it is either a stretch and or you are not able to sell the property now for what is owed due to its condition.
It does have some equity, but is in need of lots of repairs. You can list the property. In its condition, it is not attractive to the average retail buyer.
In a situation as such, in may be best to market to a real estate investor that specializes in buying at a wholesale price, fixing it up and reselling. You will get less than you may want, but can payoff the debt and avoid a foreclosure.
Free Foreclosure Tip #6 Short Sale Payoff
Assuming that you are no longer able to continue making the original mortgage payment, and you are not able to sell the property now for what is owed due to its condition, and also a declining market value.
It has negative equity, and the borrower is up side down. The property is in need of lots of repairs, and there are liens and back taxes owed. You can list the property, but in its financial condition, it is not attractive to the average retail buyer.
In a situation as such, in may be best to market to a real estate investor that specializes in buying from the lender at a short sale payoff, fixing it up and reselling. You will get the debt paid off and avoid a foreclosure. Typically the lender will show the property as paid off for less than what is owed and will not pursue a deficiency judgment nor portray as a tax gain.
Free Foreclosure Tip #7 Deed in Lieu of Foreclosure
Assuming that you are no longer able to continue making the original mortgage payment, and you are not able to sell the property now for what is owed due to its condition, and also due to a declining market value.
The borrower cannot keep up with and doesn't want the property. It has negative equity, and the borrower is up side down. The property is in need of lots of repairs, and there are liens and back taxes owed.
In a situation as such, in may be best to talk to you lender about taking the property back as a deed in lieu of foreclosure. Typically the lender will peacefully take the deed from you in lieu of dragging out the foreclosure process. Show the property as paid off for less than what is owed and will not pursue a deficiency judgment nor portray as a tax gain.
These Free Foreclosure Tips will assist the borrowers with any pending foreclosure issues. To learn more about the Truth of Real Estate regarding foreclosures, please visit the website Thank you…
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