find mortgage and refinancing information Akron Ohio


We would like to thank the local libraries, schools, and universities for recommending students to visit us when doing research on any of our information topics.
 Please check back frequently as new topics are added and current topics are updated daily.


How Homeowner Can Save Their Home From Foreclosure

Drive around and see how many signs you see that says House for Sale. How many lease purchases do you see? How many abandon houses are on your street? Our country is up against the wall with delinquent mortgages. FHA mortgage lenders are filing claims in the millions from HUD. How do I know? I counsel homeowners every month concerning their mortgage and what they need to do to protect their property and communicate with their mortgage lender.

What is the cause of all these delinquence? There could be several reasons: Lost of a job, health issues, divorce, business failure & income reducing. Before the homeowner even tries to save his/her home, they move out or better yet file bankruptcy. If they only knew what options were available to them, they stood a better chance of saving their homes.

Some homeowners try to make an attempt to talk to their mortgage lender for a possible workout but here is the problem. They are taking to the wrong people and they do not have a plan. I know some mortgage lenders can make it very difficult to be reach and consider you for a workout. Some will tell you that all communication will be handle by their attorney. The only thing their attorney wants to know is whether or not you can reinstate the mortgage and if not, it goes to foreclosure.

Some homeowners even got to the right department to discuss a workout only to find out the lender denied their case. I am here to tell you that your home can be save from foreclosure.

There are some facts you need to know before you abandon your home or file bankruptcy.

Fact number one: Stay away from so-called investors. Why are you going to give your equity away when you can save your home yourself? Yes you can do it. Do not quit - claim your home, sale or sign any papers until you talk to your attorney.

Fact number two: If your home is FHA or VA insured, your mortgage lender must consider a workout before they can file a claim. If FHA or VA discovers you were not given the opportunity for a workout, then FHA or VA may deny the mortgage lender claim, they don't want that.

Fact number three: To be considered for a workout, you must have some money. At a minimum you must have the attorney & foreclosure fees payable to the mortgage company before the sale date. Reason: Your mortgage lender cannot put the attorney & foreclosure fees back into the loan. Their insurer will not permit it.

Note: If you don't have any money to pay attorney & foreclosure fees, get the money, have a yard sale, borrow from your 401K, life insurance cash values, mutual funds or stock holding; church and family, try getting an advance from your employer, refinance if you have enough equity.

Start getting busy!

Fact number four: The rules change if your loan is a conventional, because these loans are not FHA or VA insured and they normally do not have a loss mitigation department, you will need haft of the amount of your reinstatement to be considered for a workout.

These are investors type loans and it will take me more time to explain what it all means than I have room for in this article.

Early I mention you are probably talking to the wrong person when you contact your mortgage lender, you need to request the name & number of the representative in the loss mitigation or foreclosure department who is assign to your case. Do not talk to the collection department or you will surely lose your home.

When making the call, be aggressive until you get the right person, if you sound like a whimp and don't know what you are taking about, they will only react slow and put your case at the bottom of the pile. Note: Be tactful.

Request a loan workout package, complete and return the forms as instructed.

Secret: When completing the financial statement after all expenses are subtracted from the net, you must show at lease haft of your mortgage payment as a residual to qualify for a workout.

Secret: When giving your hardship statement, do not tell your mortgage lender that you mismanage your money, that is a sure case you will be deny.

Do not contact your lender's attorney, they work for your lender not you, they can't help you.

Tip: Give your lender all require documents. If any information is missing, it will only delay your case and their response is, why bother, if you don't care, why should I.

You have been given some value information here that will help your save your home from foreclosure. Before you move or file bankruptcy, use these strategies first and you will be surprised that you can save your home. Until your workout is approved, start saving your money.

About The Author

Bobby Johnson is a comprehensive financial planner who speaks on the topic"How to Eliminate Debt and Build Wealth" and the author of "How to Save Your Home From Foreclosure and Not Lose Your Mind" For information on hiring Bobby to speak for your company, corporation, church or event, call 770-210-8797 or e-mailing [email protected]


used office furnishings-supplies-equipment-desks-cubicles-service-counters for sale in Akron Ohio   Die cast model cars for sale in Akron Ohio  
used cars for sale in Akron Ohio   unfurnished homes for rent in Akron Ohio

Click here to
OfficeJax free ad space available here

Find used office equipment in Ohio at www.OfficeJax.Has.It

Find the best fleamarkets at www.FleaMarketWorld.Has.It


Find electric powered vehicles at www.NoGas.Drives.It

Akron City directory

Free Automatic Link Exchange

Flea Market World

Find homes for rent
in Akron Ohio

iphone-4-less below wholesale prices


Place your AD here. Click here for more details.

Click above to place your AD here

[Back to Top]

Ohio RealEstate

auction news and listings for Akron, Ohio

Akron crafts and hobby news center

best home remedies and do it yourself tips

Akron currency trading

Akron Ohio pet news

Advertising and promotions Akron, Ohio

The Akron blogging news center

Akron Ohio web site design news

Akron Mortgaging and refinancing

Web site design tips



© 2012 - 2024 All Rights Reserved
Increase pagerank with HitsSurfer

free page rank checker and seo evaluation tools 

first second ARM compare rates find the best rates current in your area lenders read reviews calculator adjustable rate loan home lenders brokers quotes florida houston gmac washington interest only 2nd software debt consolidation reverse senior equity texas maryland options lending bad credit  option one ameriquest chase first banks emc residential california miami dallas est branch marketing home company commercial yahoo online bad credit low credit no credit