How to Avoid Foreclosure
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Do you want to save your home?
We specialize in out-of-court resolutions of Mortgage Foreclosures by negotiating with your lender. Let our expertise help you save your home. We can give you the Foreclosure help you need.
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"How to Avoid Foreclosure"
It's simple… don’t miss your house payments. That sounds simple and it is. It's too bad that life is not that simple. Foreclosure is a reaction not an action and can be avoided with your calm decisions and careful planning.
"We turn to God for help when our foundations are shaking only to learn that it is God shaking them."
We are continually bombarded with obstacles and trials that cause us to get behind mentally, physically and financially. Most of us live paycheck-to-paycheck knowing that nay one financial event could turn us upside down and one day our turn is up and we are dealt the final blow… we are in Foreclosure. What do you do??? What can you do??? What will it do to my credit??? What will my friends think??? The first thing to do is relax… take a deep breath and pray. There is a way out of this and with God’s help we can help you.
Foreclosure is something that can happen to anybody in any financial income bracket. It does not discriminate nor is it forgiving. It is not something that you should hide from in hopes that it will go away… it won’t. Foreclosure can be avoided but you must act and act boldly. Time is not on your side.
Foreclosure is the means in which a Lending institution can repossess your home when payments are not made. The mortgage company legally can begin foreclosure proceedings once you have missed your payment by one day. They typically do not begin the official foreclosure proceedings until you are 3-4 months past due. They will threaten you with foreclosure but it is not until they actually hire an attorney and file the foreclosure paperwork in the court system that you are officially in foreclosure. The entire process can take at little as 21 days and as long as a year. This duration will depend on your State’s Foreclosure laws and we encourage you to take the time and check them out.
Once you are 30 days past due on your payments the mortgage company usually will not accept the past due payment without the one that is currently due. An example is; if your typical payment is $1000/mo. and you are 45 days past due, they will want you to pay the $1000 payment that is past due along with the $1000 payment currently due… or $2000. They usually will not accept anything less and will send back partial payments. In other words after you get behind it starts snowballing and it is very hard to get caught up. If you are many months past due you can see how the task of getting caught up can be overwhelming.
Please understand that it is in the best interest of the lender to get you back making regular payments because that is how they make their money. They usually will try and work something out and get you making payments again. In most instances the workout they propose is something that you either can’t afford or it will put you right back in this same position within a short time.
That is where American Foreclosure Specialists can help you. We know the system and how the Mortgage companies operate. We will complete a detailed financial portfolio illustrating to them that you can afford the house, want to keep the house and can repay your arrearages in a timely manner. That is all they want to hear. We have many options that are available to you that can help you repay those arrearages without putting you in a financial pinch. We can help you decide which one best fits your financial position and we will go to them with that plan for approval.
Our foreclosure specialists will use one of these strategies or perhaps a combination of workout plans to develop your personalized strategy to stop foreclosure:
- Reinstatement Plan
- Repayment Plan
- Loan Modification/Loan restructuring
- Loan Refinance
- Loan Forbearance
- Partial Claim
- Pre-Foreclosure Sale
- Short Sale
- Deed-in-Lieu of Foreclosure
We call ourselves Specialists because we
SPECIALIZE in helping people get out of foreclosure.
Our Name, American Foreclosure Specialists, is the name that you can trust.
Do you need to Stop Foreclosure? Fill out our Free Questionnaire