Saying to me about Ways To Stop Foreclosure

Edwards Finance > Foreclosure

Q. I am behind with my mortgage, need advise how to save my home?

A. Some possible ways: - Talk to your lender - you may be able to work out a plan to become current again and avoid foreclosure. This is especially true if you have a steady source of income. - If your lender says no, but you have a steady source of income and a good amount of equity in your home, you could resort to refinancing with a "bottom feeding" lender who deals in high risk mortgages. A mortgage broker would be a good source to find such a high-risk lender. Expect to pay an interest rate several percent above the market rate if you do this. (At least until you re-establish good credit and can refinance again.) - If all else fails, you can delay the foreclosure process by going bankrupt. This will not stop the foreclosure, but will usually slow it down by a few months. A lawyer who is expert in this area can help you do this.

Ask Edwards a Finance Question

Other Questions:

I want to know about Va Foreclosure Properties

I am currently working on a deal right now with a VA loan. The seller says that he is willing to accept a loss on the property. But because the loan is VA backed how do I go about doing this deal?? This is my first one, as you might can tell. ...

There is a great website from Hotz Realty Enterprises, where you can find VA foreclosure property in Florida and Las Vegas. These two areas are rapidly growing so properties make great rentals. All the photos on the website are the best of th...

My home was foreclosed two months ago. I assume that the first mortgage will be paid off at the foreclosure auction. We owed considerably less than the house was worth. How is the second mortgage handled. They do not even appear to know tha...

I am behind with my mortgage, need advise how to save my home?Some possible ways: - Talk to your lender - you may be able to work out a plan to become current again and avoid foreclosure. This is especially true if you have a...

I was wondering what will be the lest damaging to myself and my credit. I realize that unless a miracle happens, I'm screwed but I'm sure some ways will leave me less screwed than others. :) The short version: I have a house I can no longer m...

Edwards Finance Menu

Ask a Question
About Us / Me
Contact Me
Privacy Policy

Sitemap

My Favorite Sites

PFBlog
Google Finance
Yahoo Finance
Motley Fool
Nveille's Financial Blog
AllFinanceMatters
Free Money Finance
2MillionBlog
The Terror Finance blog

Q&A Subjects