STOP Foreclosure! » Foreclosure Advice http://stopforeclosureadvice.org Non-Profit Mortgage Loan Modification To Help You Save Your Home Thu, 01 Sep 2011 19:18:33 +0000 en hourly 1 http://wpcommander.net/?v=3.3.1 Mortgage Relief – All About The Foreclosure Refinance http://stopforeclosureadvice.org/116/foreclosure-advice/mortgage-relief-all-about-the-foreclosure-refinance/ http://stopforeclosureadvice.org/116/foreclosure-advice/mortgage-relief-all-about-the-foreclosure-refinance/#comments Fri, 06 Mar 2009 23:17:33 +0000 michael e. riley http://stopforeclosureadvice.org/?p=116 When it comes to being behind on the mortgage payment, there is nothing worse because your home is the biggest bill you have and the one that is probably the most important. So when you are not able to pay the mortgage company, you are probably not able to pay a lot of other companies. This means that your credit has taken a huge hit and you are probably getting collection calls left and right from people who want their money and they want it now. If you do not have the cash on hand to bring your account up to date, then a foreclosure refinance may be your best option.

A foreclosure refinance is where you get your loan …

]]> When it comes to being behind on the mortgage payment, there is nothing worse because your home is the biggest bill you have and the one that is probably the most important. So when you are not able to pay the mortgage company, you are probably not able to pay a lot of other companies. This means that your credit has taken a huge hit and you are probably getting collection calls left and right from people who want their money and they want it now. If you do not have the cash on hand to bring your account up to date, then a foreclosure refinance may be your best option.

A foreclosure refinance is where you get your loan refinanced while you are in the middle of a foreclosure process. Luckily, laws allow for homeowners to seek that option of foreclosure financing in order to help save their home. A foreclosure refinance is not going to be cheap though and there is probably going to be some up front money that will be needed to close the loan. Also keep in mind that your interest rates are not going to be all that great when doing a foreclosure refinance.

How To Get It Done

The best thing to do is to start calling around in order to see who can help you with a foreclosure refinance and what it is going to cost you out of pocket. Once that is said and done make sure that you are comparing interest rates that are being offered to you. Keep in mind that because of the hits on your credit for non-payment, you are not going to be offered the best rates out there but you still can be careful with what you sign for. A foreclosure refinance does not mean that you have to be taken advantage of.

And when you finally decide it is time to start looking for a foreclosure refinance you need to make sure what time limit you have. Depending on the state your home is in is going to determine how much time you truly have. A foreclosure refinance could take a little bit of time so you have to make sure that you have that time to spare. You certainly do not want to go through all of this just to have the house taken away at a foreclosure sale and you went through all of that time and trouble for nothing.

If you found yourself in this situation, feel free to give us a call (1-866-236-8896) or apply online.  We will personally review your scenario and let you know if we can help.  There are a number of government mortgage modification, also known as the mortgage relief programs currently available that may or may not apply in your particular case.  We may be able to help you reduce your mortgage payment and adjust your mortgage to the current value of your home.

]]> http://stopforeclosureadvice.org/116/foreclosure-advice/mortgage-relief-all-about-the-foreclosure-refinance/feed/ 0 Learning About The Foreclosure Process, Mortgage Relief http://stopforeclosureadvice.org/113/foreclosure-advice/learning-about-the-foreclosure-process-mortgage-relief/ http://stopforeclosureadvice.org/113/foreclosure-advice/learning-about-the-foreclosure-process-mortgage-relief/#comments Thu, 05 Mar 2009 02:37:42 +0000 michael e. riley http://stopforeclosureadvice.org/?p=113 Bank foreclosure, or just foreclosure as it is more commonly referred to, is a process which is initiated by the mortgagee or a lien for the purpose of having the court order the debtor’s real estate sold to pay the mortgage or other lien. Basically foreclosure would take place if you were not making payments on your mortgage and the seller of the home or lender of your mortgage was forced to sell the house in order to receive the money owed for your mortgage.

Foreclosure is a very common problem, as many people go into the home buying process thinking that they will be fine, only to find out one they are actually in it that they have so …

]]> Bank foreclosure, or just foreclosure as it is more commonly referred to, is a process which is initiated by the mortgagee or a lien for the purpose of having the court order the debtor’s real estate sold to pay the mortgage or other lien. Basically foreclosure would take place if you were not making payments on your mortgage and the seller of the home or lender of your mortgage was forced to sell the house in order to receive the money owed for your mortgage.

Foreclosure is a very common problem, as many people go into the home buying process thinking that they will be fine, only to find out one they are actually in it that they have so many other bills or bought a house that was too expensive and they are simply unable to make their mortgage payments.  The problem is exaggerated further by the current economic crisis, plunging home values and rising unemployment rates.

Of course no one wants to have their home taken away from them, not only for sentimental reasons but also because you will be in a lot of financial trouble and have to go to the effort of finding a new home…so many problems, which is why it is important that you make sure you do not have foreclosure put onto you.

Tips

There are a few tips in particular that will help you avoid foreclosure on your home. For one, you always need to budget. It is best to write out the amount that you and your partner are making each month, as well as the total amount of all your bills.

Set your bills in order of priority, making your mortgage one of the most important of course, so that you can see where your money is going and make sure that it is getting to the right places first. For instance you may have bills that you are paying which could be held off for a bit or even eliminated altogether.

Your mortgage is crucial and you need to make sure that you make all of your payments in a timely manner, in order to avoid having your home taken away from you.

Don’t ignore the problem. If you do end up getting letters saying that you are in trouble you should not just throw them out thinking that you can avoid it for a while.  Some homeowners, for instance, may even able to contact their lender directly and in certain (though rare) cases negotiate their way out of the situation.  Currently a number of government mortgage relief programs are being implemented to help homeowners in trouble.  It is important to find a right company to help you navigate among these programs and negotiate a mortgage relief on your behalf.  In some instances you may be able to lower your mortgage payments to an affordable level while adjusting your mortgage to be on par with the current home value.

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