17 Foreclosure Strategies to Stop, Stall or Walkaway with Cash
About this book
You may be facing foreclosure, considering walking away from a house that is upside-down (you owe more than it is worth), or wondering whether you should file bankruptcy.It can be very challenging trying to sort through the different options and frequently homeowners in this position feel overwhelmed. They are harassed by creditors and worried about their situation and their family’s future. They are given half-truths, double-talk, and misleading information and may even be told that it is their moral obligation to keep making payments. Frequently they feel like there is nothing that can be done and just ignore the situation or worse, they start tapping their lines of credit and retirement accounts in a desperate attempt to keep making the payments and just hope for a miracle.There are nine basic strategies that can be used to stay in a house or stall the process of leaving. There are eight basic methods that are used when the homeowner needs to get out of the obligations of the house. You are probably familiar with the standard solutions, such as strategic default, short sale or foreclosure, but there are many techniques and solutions the average homeowner and most real estate agents are not familiar with that can help.You do have options. For instance, there are homeowners struggling with payments on their house or who decided that it no longer made financial sense to pay on a worthless asset and they •Bought a home while facing foreclosure.•Stopped or stalled a pending foreclosure, giving them extra time to prepare.•Stayed in their house for a year or more after they stopped making payments.•Eliminated junior or second liens on their properties for a fraction of their value.•Received up to $35,000 in relocation expenses.•Sold their underwater house without a short sale.•Saved their financial future by getting out of a problem loan.•Made money from their underwater house.•Used a strategic walkaway to get back on their financial feet and start over with cash in the bank.This book is intended to guide you through the potential solutions available so you can choose the one that will benefit you the most. It will help you avoid the banksters connivances and lies so you can determine the best options for your family – and not be manipulated by lenders focused on their profits and bonuses.Includes information on foreclosure prevention and assistance programs as well as the robo-signing settlements and how to determine if you are eligible to participate and where to go for more information or apply for assistance.Get this book and take control of your own future.