WABROKER

Posts Tagged ‘stop foreclosure help’

This article is from my apprenticeship/training course for   short sale negotiators and real estate agents.

In less than 1500 words it gives complete step by step instructions on how to get free Stop Foreclosure Help by doing it yourself.

It is a bit technical but this subject is very complex and I have tried to reduce it to its simplest terms so anyone with an 8th grade education can understand and use it.

It is being made public here for the first time. I hope you find it useful.

As with all these posts please feel free to comment or ask questions at any time.

Do It Yourself Stop Foreclosure Help

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If you have recently lost your income or your mortgage payments have increased, you may already be receiving foreclosure notices from your lender. If you cannot afford to make your mortgage payments, most of the alternatives to foreclosure still require that you give up your residence.

Many foreclosure alternatives will be less damaging to your credit score than a foreclosure. A higher credit score will allow you purchase property in the future.

Instead of arguing with your lender over missed payments and suffering while the bank harasses you about foreclosure, give them what they want. If your property is heading toward foreclosure anyway, give your house back to the bank before they take it from you.

When you voluntarily sign over the deed to your lender, the agreement is called a deed in lieu of foreclosure. A deed in lieu of foreclosure can be beneficial to both you and your lender.

Your lender might agree to a deed in lieu of foreclosure because it can be very expensive for them to complete the foreclosure process. When you voluntarily sign over the deed to your lender, they do not have to spend the time and money to legally remove you from the property.

A deed in lieu of foreclosure can be beneficial to you as well. First of all, you will not have to suffer for months while the bank harasses you with notices of foreclosure and sends collection agents to your house. You can save money with a deed in lieu of foreclosure because you will not be forced to empty your savings in order to stay in your home while the foreclosure process unfolds.

Finally, a deed in lieu of foreclosure can be less detrimental to your credit score, which can get you into a new property faster. Before you think that foreclosure is your only option, get some stop foreclosure help.

Knowing what your options are will help you make an informed decision about your unique situation.

(August 30, 2009)

Since falling behind on or mortgage payment last month, GMAC has been contacting us constantly about the missed payment.

One day I came home to find a note on my front door which read–YOU’RE LATE, PAY UP!

A few days later, someone dropped a similar note adressed to my wife on my neighbor’s porch. How embarrassing.

I have also had a number of phone calls with representatives from GMAC. Today, however, the representative from GMAC on the phone seemed like a somewhat logical person so I decided to ask him a question that has been bothering me.

I know that GMAC records all of their phone calls for “quality assurance purposes.”

I asked the man on the phone why he could not play back the conversation that my wife had with GMAC on July 9, 2009.

A recording of this conversation would explain why we thought we were granted a two month forbearance from our loan yet GMAC has no record of the agreement.

The representative stated that he could not play back the recording.

He then asked if I had any kind of documentation from the GMAC representative that my wife spoke to. I said that I did not have any written documentation.

Later in the conversation he stated that GMAC still needed one additional document to complete our loan modification package so we could get stop foreclosure help.

I asked him to send me some written documentation that only one more financial document was needed.

He replied that he had no way to send me any written conformation of this statement.

Then how could I have gotten something in writing from the operator who granted us a forbearance?