Stop Mortgage Foreclosure

There are many different possible solutions for your foreclosure procedure. Part of the trick of being able to save your house from foreclosure is being open to any idea, no matter how ridiculous it sounds. With that in mind, here are some possible solutions for you:

• Get another job to help you make the mortgage payments
• Find ways to cut back on your spending (no eating out or clothes and sticking to a strict grocery budget)
• Make a list of everyone who might be able to help you and go ask them
• Find “odds and ends” types of jobs (lawn mowing, shoe shoveling, etc)
• Start a part-time business
• Sell some of your stuff

This list is just to get you started thinking about what you can do to stop your foreclosure. Sit down with a pen and paper and do your own brainstorming. Think about how you can either generate more income or about how you can cut down on expenses. Ideally, you want the cut in expenses or the increase in income to be something ongoing. That way you can be sure that you can continue to make your mortgage payments every month.

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I need some help with a ? and I can not find a confident answer to anywhere. I’m referring to when you don’t pay ur property taxes in California… Does this show up on your credit report? I’m not referring to any other type of tax lien, meaning all income taxes are current, and all mortgage payments are current. By this point, someone must have not paid their property taxes within the last year or two, and since checked their credit reports. Are property taxes even connected to your SSN?

I found this in another post here, but I’m not sure if it is true…
"This answer is based on a referenced book below. So it isn’t my opinion that I just randomly typed up.
First, property tax liens are not part of the three credit agencies reporting. Personal tax liens are, but not property tax liens. Second, the mortgage company will pay for it during the foreclosure procedure. Source: Complete Guide to Real Estate Tax Liens and Foreclosure Deeds: Learn in 7 Days

Anyone know for sure?

Any taxes that are in default are reported to the credit bureaus. If the taxes are not paid in a certain time frame, you could lose your house in a sheriff sale and you would still have to pay the "mortgage" even though you no longer own the property.

http://www.davidpannellhomes.com Call David Pannell and Barbara Newton today for help. Calling the leander will cost you. Sell your home for FREE with a Texas Realtor. We can help you sell before the lender takes for homes from you. Call Today before the take your homes.
Stopping Foreclosures
From Elizabeth Weintraub,
Your Guide to Home Buying / Selling.
FREE Newsletter. Sign Up Now!
Ways to Stop Foreclosures
Home owners who are facing foreclosure often dread dealing with the facts that got them to that place. If they think back to when they first bought that home, losing the home was probably the furthest thing from their mind. Few home owners actually plan to go into foreclosure.

Reasons For Pending Foreclosure
Apart from those who knowingly participate in mortgage fraud — with the intention of never making a single payment — most homeowners face sudden extenuating circumstances that force them to stop making timely mortgage payments. Here are a few of those reasons:

Job loss / unexpected unemployment
Sudden illness or medical emergency
Death in the family
Divorce / loss of second income
Excessive debt obligations
Job demotion or promotion denials
Inability to pay an adjustable interest rate that increases
Unexpected major home maintenance expense
Ways to Stop Foreclosure
When the lender files a Notice of Default, your options are limited. That is why it is better for you to call your lender before falling behind on your payments, because lenders are often reluctant to work out repayment schedules after foreclosure proceedings have been commenced.

You will be given a certain time period to bring the payments current, pay the costs of filing the foreclosure and stop the foreclosure. This is called reinstatement of your loan. If you cannot make up the missed payments and the lender will not work with you, here are a few other options to stop foreclosure:

Sell Your Home.
Interview real estate agents to get an opinion of market value and average DOM to sell your home. You might be tempted to hire a discount broker, but many sellers feel they need the exposure and marketing that full-service brokers offer. Compare both to determine which best meets your needs and time frame.

Consider a Short Sale.
If your home is worth less than the amount you owe, you might be a candidate for a short sale. A short sale affects credit but it’s not as bad as a foreclosure. You or your agent will need to negotiate with your lender to find out if the lender will cooperate on a short sale. This is called a pre-foreclosure redeemed.

Sign a Deed-in-Lieu of Foreclosure
This is called deeding the home back to the lender. The homeowner give the lender a properly prepared and notarized deed, and the lender forgives the mortgage, effectively canceling the foreclosure action. Lenders tell me that deeds-in-lieu of foreclosure affect credit the same as a foreclosure.
The lender might also work an arrangement where a home owner can remain in the home until finding a place to move into. Owners in default should negotiate the right to retain occupancy, arguing that if the lender followed through on the foreclosure, an owner would still enjoy the right of possession during that procedure.

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In this situation, the attorney was hired by a Homeowner’s Association (HOA) to collect on a debt for property upgrades the homeowner clearly did not need (and has proof). The evil one is the HOA President — a Realtor — who sold the homeowner their property and collected a commission, and who now hopes to put them into foreclosure and secure a commission on that sale too. This question does not ask what wrong the Realtor is doing though. It asks what the Realtor’s attorney (acting under powers from the HOA) is doing wrong when they write a letter to the homeowner’s mortgage bank to notify them that the attorney is foreclosing on the property — and the attorney is ONLY BLUFFING.

This strikes me as Deceptive Trade Practices or possibly Fraud or Malpractice. As Officers of the Court, Attorneys are held to a higher standard of ethical behavior than the average layman or non-attorney. There would be action possible to bring the attorney before a review board of the State Bar for blatantly LYING in the conduct of their business. And the State Bar could impose sanctions such as fines, reprimand, censure, or in extreme cases, taking away the attorney’s license although this infraction would probably not qualify for a penalty that stiff. And these would be ethical issues before the State Bar.

But what, if anything, on a CRIMINAL level would the attorney be guilty of?

Threatening to have someone thrown out of their home is one of the most harrowing experiences one can go through, so there should definitely be cause to sue for something like harassment and/or mental anguish, particularly when the attorney was bluffing and the entire debt was based on fraud by the Realtor to effect property upgrades that would help her sell more properties in the HOA on a quicker basis in a down market. The Realtor is in desperate need of money and is late in paying her own mortgage so she is engaging in desperate real estate practices to exploit others with her realtor’s license.

The attorney sent this foreclosure notice to the bank almost 1 month ago but has yet to file a lien on the property (County records are being monitored daily and new liens are reported within 24 hours). And versus sending a notice directly to the homeowner, the attorney only copied the homeowner on the letter the attorney sent to the bank. Therefore, the attorney may never have even sent the letter to the bank so as to avoid accountability while scaring the homeowner, contributing further to their deception and manipulation.

But might there be some other foreclosure procedure that the attorney is pursuing BEYOND the filing of a lien on the homeowner’s property which the homeowner cannot see at this time? Could the attorney argue that they ARE foreclosing on the homeowner, even without filing a lien on the property as of yet?

You are fighting an uphill battle The HOA spread the cost over all the home owners they enjoy the power without the cost I too have gone thru what you are In the end I lost I let the HOA take the stupid thing and my bank foreclosed on them It was all over the earthquake cost Any way i heard they talked of one home owner that cost them over $30,000 GOOD
I know I well never put myself in that position again
Just play with them as long as you can and cost them as much as you can They well feel very powerful for a time But move on and learn
For some reason it never affected credit score Now live in a nice S/F home Few month back ran across the main fool I dealt with Good God he looked as if he as aged 50 years in tha last 15 years
I really lot nothing would have made money except I keep paying the bank till I as forced to move out They were the ones that lost $30000 So I guess i did win over those silly SOB’s

http://www.ifilebankruptcy.com 888-288-0888 The attorneys at Koehler Law Offices understand that the bankruptcy procedure is confusing. They will help you understand the process before you make any decisions. New Albany, Indiana.

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On occasion I do home repairs on houses that have no power because homes are in foreclosure etc… What’s the quickest & safest way to repeatedly connect to a portable generator to a main panel. Would like to know proper equipment & procedures if possible.Thank you in advance.

Buy an appropriate sized extension lead about 50 foot long.

Put generator matching plug on one end and heavy duty "alligator" clips on other. (Be sure to color code them!)

Run line to main panel IN THE HOUSE, turn OFF main breaker, remove cover.

IF there is a double "vacancy" in the breaker strip connect clips there, IF not, remove a breaker and connect. (For 110/220 you need to remove a 220 double breaker or 2-110 singles. IF singles they MUST be on different "legs"! The circuits on removed breakers will NOT have power.)

Be sure to remove connections AND replace cover whenever leaving premises.

I specified the panel INSIDE the house for 2 reasons.

1. According to code, ANY "auxiliary" power connection at the "access" panel is required to have a transfer switch to prevent power being fed back into the lines leading to the premises. (THESE switches are EXPENSIVE!!)
(THIS is ALSO why you want the MAIN breaker INSIDE OFF. FOR SAFETY!!)

2. MANY times the outside panel has a seal on the cover which you do NOT want to remove. (In SOME cases, removal is illegal if done by anyone other than the power company or electrical inspector.)

That leaves your generator OUTSIDE, and your connections INSIDE where they are protected from weather.

My home is now valued very less than what I owe on my loan.. Is that a better idea to foreclose the house and if so what is the procedure and how it will affect me. Or there any other option..? Please advice. Thanks.

A home foreclosure will devastate your credit rating (as it should). You will lose a minimum of 200 points, probably more! It will also prevent you from buying a house for at least 2-3 years.

When you signed the note and agreed to the payments, you didn’t agree that you’d pay only if the property remained at the same value or increased, you said that you’d pay for it. If the property went up by $100,000 would you expect the bank to share in the profit? No? Then why do you expect the bank to share in the loss?

My advice is to keep paying as agreed. Especially if you don’t have to move and you aren’t having trouble making your payments.

good luck!

A HUD foreclosure is a different kind of government owned property. The homes offered through the HUD foreclosure procedure are offered to low and medium income families but you must qualify to receive them. The general public must already be accepted for a loan to bid on these HUD Foreclosure homes. Though anyone who meets the loan requirements can qualify for a HUD Foreclosure home, the Department of Housing and Urban Development (HUD) will give priority to prospect homeowners who intend to live in the houses they purchase.

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My mom’s house was foreclosed on and she is now looking to rent. What is the procedure for places that require a credit check? She is worried that she won’t even be able to rent something because of her obviously poor credit. Should she be worried?

She could be worried in apartment complexes, she might get past the radar in a multi family home, or where she can explain to a home owner directly. She might have more trouble when dealing with a compnay, but might still be able to get through with an extra month or 2 security deposit.

Mike Luchen
Lic. Real Estate Salesperson
RE/MAX Power Realtors
http://www.WestchesterApartments.net

http://foreclosureprocesstoday.com

Overview of the foreclosure process. Easily learn how the foreclosure process works so that you can take action as soon as possible to stop home foreclosure. Watch the video to learn helpful foreclosure information. Visit our site for more practical articles on the foreclosure process now. Download our free e-book Insider Strategies to Prevent Foreclosure.

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