What can I do about a foreclosure?

Is there any alternative to chapter 13 bankruptcy?

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Posted January 11th, 2010 in Bankruptcy Q and A. Tagged: .

4 comments:

  1. oncameratalent:

    Here is a pretty good website about avoiding foreclosure. It has info about foreclosure lending scams, foreclosure timeline, some step-by-step things you can do to stop foreclosure, and some advice on how to delay the eviction process after a foreclosure sale:

    http://how2avoidforeclosure.blogspot.com

    _____________________

    January 11th, 2010 at 11:49 pm
  2. Swaminathan P:

    only a lawyer can assist you

    January 11th, 2010 at 11:49 pm
  3. chatsplas@sbcglobal.net:

    YES> Talk with your lender. They are generally willing to work out something to avoid going all the way through foreclosure, if you’re still employed. Foreclosure costs them money up front, so they’re willing to negotiate with you. You won’t get out of what you owe them, but you may be able to get different terms.
    AND start acting financially responsible. Cut out luxuries like hair and nails and massages and carry your lunch. Stop eating out, going out, buying new shoes & clothes. By cutting back drastically you can reduce your monthly costs and start yourself back onto good credit. Remember to ask yourself whether it’s a WANT or NEED EVERY time you start to buy something. Mostly wants. You don’t need that sharp new suit those sexy new shoes, etc.

    January 11th, 2010 at 11:49 pm
  4. Tres7:

    Most mortgage companies do not want to be homeowners and they know that they are in a loose loose situation so they do want to resolve the issues. But the main concern is that they want the money that is owed to them. So trying to resolve the issue before it gets to far is the key. If you see that the payments are getting to a point that you can not make it…..start the process of negotiating with them. If you are even a month behind, more than likely the foreclosure process has started. Do not wait until the foreclosure starts. Even though you can stop a foreclosure, stopping it before it starts is the key to saving money. Once it starts the legal fees and cost start clicking away. Every minute counts.

    January 11th, 2010 at 11:49 pm

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