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Preventing Foreclosure Proceedings and Understanding Your Options
Every year over 8 million homeowners are seeking help preventing foreclosure proceedings. This is a stunning 30 year high. Experts project that by 2006, 12 million homeowners will be teetering on the brink of foreclosure. Many homeowners are not aware that they can prevent foreclosure and save their house. Did you know that you can stop the proceedings up to an hour before the auction takes place?
As a homeowner facing foreclosure there are various options available. We will briefly examine some of the most popular options.
Reinstate the loan - Ideally you would like to be able to pay the loan payments that you are behind on and bring the loan current. These costs would include whatever owed on the missed payments, and any additional late charges or attorney fees. This is the most efficient way when preventing foreclosure proceedings.
Get forbearance - When a lender forecloses on a property it is expensive for them. They would rather work out some sort of arrangement than proceed with the foreclosure. Talk to your lender and see if they are willing to work out a plan that outlines a way to get current on your mortgage. This agreement will vary depending on the situation and the lender. Some things they may be able to help with are a temporary reduction or suspension of your payments. If you have a FHA VA or other government loans you may qualify for even more options.
File for Bankruptcy - Some attorneys may advise a homeowner to file for bankruptcy. This is a legal way to avoid the foreclosure process. However the process may still continue and you will be stuck with bad credit for 7 years. You should consult your attorney about the option of bankruptcy.
Sell your home - The problem with selling the home is that if you list it with and agent, and it still is not sold the lender does not care, you are still on the foreclosure clock. The best way to go about selling the home in this situation is to contact a real estate agent that is familiar with foreclosure investing. They may be able to put you in contact with investors that will be happy to buy your home. Preventing foreclosure proceedings can be as easy as getting in contact with a foreclosure investor.
Deed in lieu if foreclosure - This is when you would voluntarily give the house back to the lender. The lender is not obligated to accept it. You should discuss with the lender how they will report it back to the proper agencies. Should the lender choose to refuse the deed they are required to file a Notice of non acceptance with the county recorder.
Nothing - We mention this because many homeowners will ignore the lender and do nothing. Don't fall into this trap. You have options when in foreclosure, you just need to talk to someone and find out what the best options for your situation are. Visit www.foreclosure-helper.com for a free no obligation consultation of your situation. One of our experienced foreclosure specialists will contact you with a personalized situation analysis.
Mark Lambie is the owner and operator of http://www.foreclosure-helper.com a website dedicated to helping homeowners facing foreclosure. We provide a wealth of information on the whole foreclosure process.
MORE RESOURCES updated Mon. July / 22 / 2019
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Mortgage rates have fallen so much lately that millions of homeowners might benefit by refinancing — even if they bought a home in 2018. Here's why, plus tips ...
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Debt Consolidation with Mortgage Refinancing: How to Pay Off Debt with a Refinanced Mortgage - Zing! Blog by Quicken Loans
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More than 8 million homeowners are leaving big money on the table by not refinancing CNBC
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Mortgage rates may be rising but there's still room to refinance your home loan. Use these six ways to get the best deal on your first mortgage refinance.
Should you refinance your mortgage now? Clark.com - Clark Howard
Money expert Clark Howard has a simple rule for when to refinance your mortgage. See if it applies to you and how you can hit a "grand slam" if you do it.
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This is how ridiculously low mortgage rates are now. A historical perspective - The Mortgage Reports
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Refinance rates were mixed today. See what that means for you if you're in the market for a mortgage.
Refinance mortgage rate slides for Friday Bankrate.com
Refinance rates were mixed, but one key rate slid lower. See what that means for your chances of scoring a killer refi rate.
Weekly mortgage rates fall further, but only refinance applications rise CNBC
Mortgage application volume was 40% higher than a year ago, largely because lower rates are strengthening the refinance market.
Mortgage rates today, July 19, 2019, plus lock recommendations The Mortgage Reports
Average mortgage rates barely moved yesterday, as we predicted. What small move there was, turned out to be friendly. And the small fall took rates very close ...
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Multiple closely watched refinance rates sunk lower today. Average rates nationwide for 30-year fixed and 15-year fixed refinances both declined. Meanwhile ...
It's Your House, Only Cheaper — Why Homeowners Should Refinance Now to Save Big - PaperCity Magazine
It's Your House, Only Cheaper — Why Homeowners Should Refinance Now to Save Big PaperCity Magazine
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Mortgage rates today, July 15, 2019, plus lock recommendations The Mortgage Reports
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Fed interest rate cuts to usher in new era for home buyers The Mortgage Reports
Home prices are high but there's hope for home buyers. Falling rates should make homeownership more affordable as the Fed seeks to cut rates in 2019.
U.S Mortgage Rates – Rates Rise for Just the 3rd Time in 13-Weeks Yahoo Finance
Mortgage rates were on the rise once more, though they could come under pressure should tension in the Middle East rise further…
Over 8 million homeowners are leaving big money on the table by not refinancing The Coloradoan
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Mortgage rates today, July 11, 2019, plus lock recommendations The Mortgage Reports
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Mortgage rates sink to a 31-month low after Federal Reserve expresses uncertainty about the economy - The Washington Post
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Mortgage rates hit their lowest levels since November 2016 on the heels of the Federal Reserve meeting last week. According to the latest data released ...
Your Mortgage: What's up with all this refi talk? Shawnee Mission Post
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Refinance rates ease for Wednesday Bankrate.com
Several closely watched refinance rates dropped today. If you're shopping for a mortgage, see how your payments might be affected.
Guild Mortgage Will Consider Airbnb Income on Refinance Applications Mortgageorb
Guild Mortgage recently launched a new mortgage option in partnership with Airbnb that considers short-term rental income from Airbnb as an acceptable ...
Time to Refinance Your Mortgage? Inside INdiana Business
Amazingly, mortgage rates are once again at historical low levels. Last year the average rate on a 30-year mortgage was 4.54 percent. Now rates have dropped ...
More than 8 million borrowers can now benefit from refinancing their mortgage HousingWire
Last week, Freddie Mac's fixed mortgage rate fell to its lowest level in three years, bumping the pool of refinance candidates up significantly. At the end of June, ...
Mortgage rates today, July 12, 2019, plus lock recommendations The Mortgage Reports
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Mortgage rates were back on the slide following the previous week's 1st rise in 7-weeks. In the week ending 27th June, 30-year fixed rates fell by 11 basis points ...
Mortgage rates today, July 16, 2019, plus lock recommendations The Mortgage Reports
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Mortgage rates increase for Wednesday Bankrate.com
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U.S Mortgage Rates – FED Chair Powell Pins Mortgage Rates Back Yahoo Finance
Mortgage rates held steady as FED Chair Powell offset the effects of the previous week's NFP numbers on Treasury yields…
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Mortgage rates go up for Monday Bankrate.com
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Benchmark mortgage rate falls for Tuesday Bankrate.com
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Is it really possible that we'll see 2% mortgage rates in the next year or so? No doubt some folks laughed when we suggested earlier this year that mortgage ...
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Mortgage rates move up for Tuesday Bankrate.com
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Student loan refinancing isn't a scam. To help you decide whether refinancing is a good option for you, we're addressing four common misconceptions.
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Mortgage discounts | United Federation of Teachers United Federation of Teachers
The following discounts are paid advertising. The appearance of these ads does not imply any endorsement by or connection with the United Federation of ...
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Mortgage rates fall for Tuesday Bankrate.com
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Mortgage Rates Keep Dropping – Market Update Zing! Blog by Quicken Loans
Some data around home sales disappointed, but mortgage rates continue to fall. All that and more on the way in Market Update!
Refinancing Jumps in Government-Backed Mortgages, Bucking Market Bloomberg
A surge in government-guaranteed mortgage refinancings is underway, bucking the decline in the broader market since early June.
Mortgage rates today, June 24, 2019, plus lock recommendations | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
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Mortgage rates today, June 26, 2019, plus lock recommendations | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
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The power of mortgage insurance — and which state's buyers use it most | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
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Mortgage insurance often gets a bad rap. But according to new data, it actually helped more than 1 million Americans either purchase a home or refinance their ...
As mortgage rates plunge, should you refinance? Fox Business
Nearly 6 million people can now cut their mortgage payments with refinancing.
Mortgage rates today, June 25, 2019, plus lock recommendations The Mortgage Reports
Average mortgage rates held steady yesterday. A modest fall had looked more likely first thing. Still, their being unchanged was a real win for borrowers.
Mortgage rates haven’t been this low since 2016 — here’s how to decide whether to refinance your home loan - MarketWatch
Mortgage rates haven’t been this low since 2016 — here’s how to decide whether to refinance your home loan MarketWatch
More people are pursuing refinances as mortgage rates have dropped.
As rates drop, mortgage refinancing surges but home purchase loans remain tepid USA TODAY
Homeowners scramble to refinance mortgages as rates hit the lowest level in 17 months. But mortgage applications for home purchase rose just 0.5%.
Stocks Fall Despite Strong Economic Data – Market Update Zing! Blog by Quicken Loans
Retail sales and industrial production showed some really strong results in June. Despite this, stocks fell quite a bit. Find out what happened.
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The Government National Mortgage Association (Ginnie Mae) is the agency, housed under the Department of Housing and Urban Development, that converts ...
Mortgage rates are falling—here's how to tell if you could save money by refinancing CNBC
As mortgage interest rates drop, homeowners could save hundreds per month by refinancing. However, it's not a smart financial decision for everyone.
Re-Air: Tips for First-Time Homebuyers The Motley Fool
Buying a home is huge, and there's not exactly a test run you can get comfortable with before you put a down payment on your first. What there is, though, ...
5 Signs It's Time To Refinance Your Mortgage Forbes
You've probably heard that refinancing your mortgage can save you money. While that's true in many cases, refinancing needs be done at the right time in order ...
Nearly 6 million people can now cut their mortgage payments with refinancing Bankrate.com
The recent drop in rates means that 5.9 million people can potentially save money by refinancing their existing home loans and securing a lower rate -- two ...
When Mortgage Refinancing Makes Sense Seeking Alpha
There are many misconceptions about what happens with refinancing a mortgage and the effect on interest payments. The important factors are rate, time and ...
These are the best (and worst) reasons to refinance your mortgage Bankrate.com
Whether you've owned your home for a short time or you've had your mortgage a bit longer, a mortgage refinance involves careful consideration. After all, you'll ...
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Home equity is up and rates are down. But homeowners refuse to tap into equity for major financial goals like a college education or home improvements. Is that ...
Housing in the Low Mortgage Rate Environment The MReport
As the rest of the economy slows, housing may be a bright spot, according to a new report from Fannie Mae.
Mortgage refinancing spree becomes a race against the clock Bankrate.com
Some 2.43 million homeowners can reduce their mortgage interest rate by refinancing, according to a recent mortgage report by Black Knight, a mortgage data ...
Refinance Your Mortgage Quickly: Prequalify in Just 3 Minutes Credible News
Let us do the heavy lifting for you. Compare rates from multiple lenders with no impact to your credit score. Refinance your mortgage with peace of mind.
Lend America exec to be sentenced in fraud case Newsday
A Long Island man who pleaded guilty to felony charges in the collapse of a $1-billion-a-year mortgage lender is scheduled to be sentenced in federal court ...
If You Ever Want To Retire, Here's The Best Way To Refinance Your Mortgage Forbes
The usual reasons to refinance are to reduce the monthly payment or to raise cash. The third option, which is under-appreciated, is to shorten the period of ...
Mortgage refinance boom goes bust as rates shift higher CNBC
A turnaround in interest rates turned borrowers back on their heels last week, deflating a quick boom in refinance demand.
More, Hirt, and Henn of Mission Capital Advisors arrange
$15.2 million first mortgage refinance for The Box Factory - New York Real Estate Journal Online
More, Hirt, and Henn of Mission Capital Advisors arrange
$15.2 million first mortgage refinance for The Box Factory New York Real Estate Journal Online
Brooklyn, NY Mission Capital Advisors' debt and equity finance group has arranged $15.2 million of first-mortgage financing for The Box Factory, redeveloped ...
Mortgage Rates Drop Again -- Homeowners Can Save Hundreds Per Month By Refinancing Forbes
Mortgage rates are continuing their downward spiral. According to Freddie Mac, the average rate on a 30-year fixed-rate loan has dropped to just 3.82%—down ...
4 irresistible perks of a VA mortgage refinance Bankrate.com
Interest rates are near historic lows, and one particular VA loan refinance option that is easy to qualify for can enable homeowners to save thousands on their ...
What to consider before determining whether to refinance your mortgage Washington Post
REAL ESTATE MATTERS | For a home-run refinance, try to find a deal that helps you do these four things: lower your interest rate, shorten your loan term, lower ...
Freddie Mac CHOICERenovation construction / renovation loan: 2019 guidelines The Mortgage Reports
The CHOICERenovation (sometimes written “Choice Renovation”) mortgage from Freddie Mac gives borrowers a new option to buy and fix-up homes without ...
Refinance mortgage rate moves higher for Wednesday Bankrate.com
Refinance rates were mixed, but one key rate were higher. See what that means for you if you're in the market for a mortgage.
Refinance mortgage rate moves higher for Friday Bankrate.com
Refinance rates were mixed, but one key rate were higher. If you haven't locked a refi yet, see how your future mortgage payments could be affected.
Mortgage refinance checklist: what you need to refinance your home The Mortgage Reports
This handy mortgage refinance checklist tells you what you need to do before refinancing. Get your paperwork in order and know your refinance goals to speed ...
Cash-out mortgage refinancing: Here’s where homeowners are using it most Bankrate.com
Homeowners who snagged a low-interest mortgage in recent years generally avoid refinancing the loan because interest rates are higher now. When they need ...
Refi Closings for Millennials Taking Longer National Mortgage Professional Magazine
A combination of lower rates and more Millennial homebuyers has resulted in a refinance closing rate that took six days longer from April to May, according to ...
Document, Non-QM, MI Products; Vendor News; Rates Steady Mortgage News Daily
There are more stars in the universe than words ever uttered by all the humans who ever lived. (That's a good line for tonight's Happy Hour.) Money, on the other ...
Mortgage applications surge on refinances as rates hit 21-month low USA TODAY
As mortgage rates fell to the lowest level since September 2017, mortgage applications surged 26.8% last week, led by an increase in refinancing.