Can anyone help us save our home from being sold in foreclosure?
Question:
Answer:
if they wont work out a forebearance agreement,then contact a bankruptcy lawyer, call HUD now!! you nedd to prepare to move in case..good luck
I assume you are talking about the USA. In England or Canada, etc. the system is different.
The usual strategy until last year was to file Chapter 13 and put a temporary freeze on foreclosure. That could be done right up until the courthouse steps. Now it's more complex, because of the changes in the Bankruptcy Code of last year. It's more complicated and more expensive. And takes more time. (I hope people who voted for the "Contract for America" and the current inhabitant of the White House realize what they voted for: changes in the tax and bankruptcy laws, among others, that are distinctly harsher to the middle class.)
The most important difference besides the money part (legal fees and filing fees) is in the credit counseling requirement -- without which you cannot file. http://www.bankrate.com/brm/news/pf/2005...
You can usually take this course on lilne, but you need to allow enough time to do it. Here's the approved Federal list of agencies; your bankrutpcy lawyer can help choose one: http://www.usdoj.gov/ust/eo/bapcpa/ccde/...
If you can't afford a lawyer you may be able to do this by yourself. But it's NOT EASY. (I have friends who've done it by themselves. But bankruptcy alone won't solve your problem--it will only give you a breather, of from several weeks to several months or more.)
The Nolo Press book ( http://www.nolo.com ) is very good; your public library might have it. Here's an Arizona firm's explanation of bankruptcy procedure and court costs and its fees: http://www.doney.net/fees.htm If you do it yourself you'll have to buy the appropriate forms and fill them out correctly. Easy when you know how -- not so easy if you don't have a logical mind, or get confused by legalese.
You might also visit the nearest US Bankruptcy Court some morning and talk to lawyers and their clients.
Good luck. Don't wait until the last minute. And note: you may have a right of redemption in your state, even after foreclosure. Although you'd have to pay the costs of foreclosure. (And be wary of bottom-feeding high-risk lenders and their high fees; and promises to "save your house" when in fact they steal your equity from under you.)
www.terrafinancialgroup.com
If there is equity and you can bounce back from whatever is putting you into foreclosure, then either get a foreclosure bail out loan or work with an investor where they will purchase the house and lease it back to you with an option to buy.
Regards
It may be too late. You could have sold it to pay off the debt and not incur the bad credit history. You could contact National Foresclosure Recovery call Toll Free 877.804.7584.
The fact that they are foreclosing on 'your' property is the good news because you cannot afford the payments. They are actually helping you to clear your financial mess without you lifting a finger. Your desperation is probably caused by your inability to figure out a change.
Initially, on your part, you need to leave your house as soon as possible and settle for a rented unit. Instead of throwing your hard earned and limited resources into a well (your present ailing property), use the money to rent out an apartment.
So a roof for your family is assured. Let them take your property.
Keep your cool. They can't throw you in jail for not paying.
Let this episode unfold before you. The faster the better.
Why I am saying this: because 'your' home is not really yours but the bank's. The things in your house belong to you, so you can take them along with you. More important than a house, is a family. Just explain to your kids how and why and teach them some basic economics that savings are important for emergencies like this.
If you have tried to do all that you can it would seem to me that all that is left to you is go to the link below and find out in just a few minutes if they can help you or not.
National Home Recovery Program for foreclosures* http://www.nhrp.com/
Regardless you should get competent legal representation to that end you should go here:
Free legal aid search for all states: http://www.lawhelp.org/
If you want to find out about the foreclosure process go here
Steps that can be taken to prevent foreclosures*: http://www.consumerlaw.org/initiatives/s...
Dreams Foreclosed – Scams about foreclosures – A pamphlet*: http://www.consumerlaw.org/news/foreclos...
I wish I could help further but it is really up to you to now do the research.
Buena Suerte
I personally help people who are in foreclosure or in default. I own a private mortgage company in St. Louis, MO. Please email me and I will go over your situation with you. I honestly might be able to save your home. hollingsheaddave@yahoo.com
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