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The Critical Role of Training - Carol Verret
There is always an excuse for not providing employees with training opportunities. Very few people articulate these excuses to either their customers or their staff, but the net effect is still the same. When the economy was good and employees...
10 Sizzling Ways To Ignite Your Profits - Rudy Cline
1. Create a memorable logo and slogan to brand your business on the internet. When they see your slogan or logo it will remind them of your business. 2. Multiply your marketing all over the internet by creating free bonuses for other business'...
Increase Traffic, Get More Visitors with Automatic Surfing - Internet 4 Profit Business Partners
Many internet businesses have the idea that their businesses will roar just by launching a well-designed website. Unfortunately, this is not true. There are many ways to promote a business, including direct e-mail marketing, advertising, traffic...
The Only 5 Things You Can Sell - Palyn Peterson
So, you want to start an internet store do you? What is it you are going to sell? This really is the first thing to tackle, because without any products your store will fail, guaranteed. All jokes aside, let me share some insight on this broad...
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How Homeowner Can Save Their Home From Foreclosure
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Written By:
Bobby Johnson
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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 delinquence 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 - continued below ...
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continued ...
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.
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” http://foreclosurmanual.ieasysite.com/. For information on hiring Bobby to speak for your company, corporation, church or event, call 770-210-8797 or e-mailing bjohn54928@aol.com
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| _Additional Resources ... |
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CREATING YOUR FIRST INVESTMENT CLUB - Thomas A Hilton Jr
An investment club is a group of people who meet at least once a month to increase their investment knowledge. They agree to contribute a predetermined amount of money which they then pool together to invest, typically, in the stock market. ...
How to Create a Multi-Functional Newsletter to Promote Your Freelance Business and Secure More Work - Brian Konradt
A marketing strategy is worthless if all it does is promote your freelance business and plea to prospects to hire you. Such is the case with many print and e-mail business newsletters. Few freelancers understand how to use a business newsletter to...
Investing as a sport? - David Leonhardt
I said last week that money doesn't generally buy happiness, but the lack of it can buy absolute misery. This, by the way, is not just my personal observation. It is the conclusion of some of the most respected happiness researchers (Yes, there is...
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