by shooting the judge in charge of your case? you know, with my sniper rifle? (the army trained me good)

Perhaps a foreclosure attorney is a better option. They start by making the bank prove they own your home!

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i live w/my boyfriend, and our home is only in his name. we just got a sign taped to our door saying "this property has been levied on by the sheriff of summit county and will be sold at (downtown’s court add.). sale date:9/10/10. we had bought our house back in 2003.

because of the disease i had gotten in 2006, i started filing for S.S.D., and currently preceding through the very long appeal process (after the 2 previous social security disability denials since becoming permanently disabled-i have a lawyer) which can take up to 2 yrs. after being unable to work for 12 consecutive months. falling behind on our mortgage was the result of my inability to work due to my RSD(Reflex Sympathetic Dystrophy)/CRPS(Complex Regional Pain Syndrome), and the foreclosure later begun.

i love our home and am scared, we want to try and save it if possible. now, with the impending sheriff’s sale i can’t even sleep at night, we have two daughters and a wonderful home and life here. i live in akron,ohio. everywhere you turn in akron seems to be another empty home. today alone, i have spent 3+ hrs. trying to research what we can do to save our home. i’m not sure even with our house not only going through a foreclosure but having a judicial auction will speed up my disability claim to possibly save our dream home.

any advice is much appreciated. this is a scary and confusing process and i know time is off the essence.

Your disability claim and your mortgage are 2 seperate and unrelated contracts. Even if you started collecting disability your mortgage and the foreclosure would not be effected in the slightest. Even if they were in your name, but as it is you are not even being foreclosed on, your boyfriend is. It is his home, his loan and his responsibilty to pay for.

The auction is 3 months away, you need to come up with the cash to bring the mortgage current or sell the house within 3 months.

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How can liberals be viewed as anything but hypocritical morons?

Whatever your mind wants to tell you.. Just remember you went to school like everyone else and watch t.v as well.. Make sure you think outside the box because your whole life you were lied to

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MYTH: I must stop making my mortgage payments before the bank will approve a short sale.

TRUTH: You do not have to stop making payments on your home in order for the bank to approve a short sale. What the bank needs to see is a solid reason why you are unable to continue making your monthly payments and/or must sell (loss of job, relocation, divorce, etc.). Due to the current market conditions the banks generally understand why the short payoff is being requested – whether you have missed payments or not.

MYTH: If I am doing a short sale I am in foreclosure or pre-foreclosure.

TRUTH: A short sale is simply requesting the bank to accept a total payoff of your loan for an amount less than what you owe. You are only in foreclosure when you receive the foreclosure notice from the bank.

MYTH: I have a second mortgage or home equity line so I can not do a short sale on my home.

TRUTH: The majority of people we work with have both a 1st and 2nd or home equity line. In this situation the 1st mortgage generally approves an amount for the 2nd and we negotiate between the two. The 2nd mortgage company is accustomed to taking a much lower payoff.

MYTH: I will receive some money back at closing.

TRUTH: When you sell your property as a short sale you are not entitled to receive money back at closing because there is no equity in your property.

MYTH: The bank will not pay the commission for my real estate agent and/or the costs of listing the property with a real estate agent will be passed on to me.

TRUTH: A real estate agents commission is taken out of the banks proceeds at close of escrow. There should never be an out of pocket expense for a seller who lists their home as a short sale with a real estate agent.

MYTH: Short sale homes are priced lower than other homes in my area.

TRUTH: Short Sales are priced in line with other comparable properties in your area. Your mortgage company will do their own version of an appraisal of the property to make sure they are getting a fair payoff on the property. Length of time on market, condition of the home and how quickly the Seller needs to close are all conditions that affect the price of every listing – short sales included.

MYTH: I have a foreclosure date approaching so there is not enough time to do a short sale.

TRUTH: Because it is generally far more expensive for the bank to foreclosure on your home than to work with us on a short sale we can postpone the sale on your home in most cases while we are marketing and/or negotiating your short sale.

The Steve Horn Team
http://www.articlesbase.com/real-estate-articles/common-short-sale-myths-exposed-714153.html

The economic recession is causing a lot of turmoil in the country today. It has affected a lot of people, and millions of homeowners who cannot afford their mortgages are asking for home loan modifications to get out of their rut. This process fine tunes the current contract, and adjusts it to the current status of the borrower in order to bring the interest rate and payment down, decrease the principal balance, transform an adjustable rate into a fixed rate, forgive delinquent payments, and even stop auctions and foreclosure actions.

In cases where people find it difficult to process their loan modification, they hire “third-party” negotiators – or lenders — who will assist the client in the process. This is a considerable action for a borrower to take, since there is a tendency to lose more if the loan remains in the delinquent status. Many seasoned lenders agree that changing the current loan and modifying it into the borrower’s current situation can keep the home owner’s loan in “good standing.”  When the borrower reduces the delinquent amount, he remains in good stead with the shareholders because they believe that the he is still making a profit.

One question remains, though. Is loan modification applicable to everyone?  Lenders choose which cases to take, and they will usually help modify a loan that will benefit them and the homeowner as well. They also look if the borrower fits some qualifications. They usually know if a borrower is qualified if a) the borrower wasn’t able to receive disclosures within a specific time, b) the homeowner is involved in rate adjustments, c) the lender would rather renegotiate your loans than have your home foreclosed or d) if the borrower is suffering from situations, such as death, divorce, separation, military service, loss of job and sickness.

In case the homeowner fits the bill, the waiting period for their loan processing will be 60 to 90 days. It is not rare for a bank to ask a deposit upon approval. But before it happens, the homeowner and his lender must be determined and consistent. Many things might happen that they cannot control. Possible scenarios might include bank mistakes and inefficient customer service. What they need to do is just roll with the punches. It is a difficult, long, and arduous process to take. However, many have gone through it and have gotten out of it relatively unscathed. Some of them are happier after the change – and all of them are certainly much wiser after going through this experience.

Joel Owens
http://www.articlesbase.com/loans-articles/home-loan-modification-729071.html

If you are having problems in paying your mortgage you are not alone. Problems paying your mortgage is not uncommon and there could be many reasons why you may have been faced with this. In all corners of the globe there are in fact millions of people who are suffering from this exact same problem. It could have been caused from simply being laid off but more than likely it was caused due to irresponsible lenders, but foreclosures are big in the news right now.

If you find yourself in the position worrying about how you are going to meet next month’s mortgage payment or you have already fallen well behind, there are several steps you can take promptly which will more than likely avoid foreclosure by your financial lender. Foreclosure is usually not the best option from the lenders point so it is essential to understand that even though the financier wants payment, they will usually do everything they can to get you back in line.

1. Get your budget in line.

First of all start by cutting out any unnecessary expenditures. Go through all your bills thoroughly and be ruthless. Luxuries such as cable TV should probably go immediately. If you have a piling amount of credit card debt, delaying these payments slightly is probably a better option whilst you concentrate on avoiding foreclosure.

2. Inspect your loan documents.

Try and find out exactly what steps your financial lender can take if you should miss a payment. Foreclosure laws will vary in every different state so it is a good idea to contact your states housing office for specific information. An example would be the time period which you are looking at before your financial lender will take action.

3. Notify your lender.

If you anticipate that you will be unable to make next months payment but you are still current with your mortgage payments, make sure you contact your lender straight away. Even if you are behind, don’t ignore the problem as it will not go away. Always remember that the lender wants to avoid foreclosure as much as you do. If you call your lender now you will more than likely find that you can probably work your problem out. One thing that people often do when they know they are behind on their payments is not open the mail from their lender. Don’t bury you head in the sand! What you will find is that typically when you get that first notification the lender will often describe a few options which may very well help you get out of trouble.

4. Start evaluating salable assets.

Start having a look at any salable assets with which you can raise some cash. There are some fairly obvious candidates which will include items such as your second car, camping trailer, boat or even jewelry. This is a difficult time and there is no room for sentimentality when you are trying to avoid being foreclosed on. Cashing in on these assets should tide you over until your personal situation improves.

5. Housing counseling services.

There are organizations in every state that are funded by the US housing and urban development which can offer you housing counseling services at no cost to you. These are more or less similar to credit counseling organizations that help people that have credit problems. If you Google ‘HUD approved housing counselors’ in your town or state you will find one which is near to you. Just be wary of businesses which are offering similar types of services but which are not approved as they will charge you a large sum of money for exactly the same type of services.

Finally, and this is the most important point, be wary of scams by people who offer to enter you into a contract which claims to be able to not only avoid foreclosure but also stop all proceedings against you. Unwittingly, if you are not careful you may sign away the deed to your home.

Brett Muscio
http://www.articlesbase.com/finance-articles/how-to-avoid-foreclosure-on-your-mortgage-727577.html

A Home Loan Modification can help you stop foreclosure and stay in your home. But if you’re like most homeowners, you’re probably wondering how it will affect your credit, and whether in a good or bad way. Unfortunately, there’s no single answer—it all depends on how far behind you are and the kind of mortgage loan modification you’ll be granted.

Best-case scenarios

Technically, since you’re not borrowing any money, a home loan modification won’t hurt your credit score. If you’re paying less in interest, you have a smaller debt burden. And since most lenders prefer an interest rate reduction, there’s a pretty good chance that a Home loan modification will improve your credit score.

The implications are even better if your lender forgives part of the principal, although this is less common. If they write off $50,000 from your loan amount, it will show up on your report as a smaller loan, which can increase your credit score.

The lender factor

Unfortunately, it doesn’t always happen that way. It also depends on how your lender reports the home loan modification to the credit bureaus. Many of them will consider it paid for less than the original amount owed, which will count against your score. If you’re already in foreclosure, the impact on your credit can be substantial. Of course, compared to a short sale or a foreclosure, a Mortgage Loan Modification is still the best way to maintain your credit standing.

Tax implications

One of the early problems with Loan modification is that the amount forgiven is usually taxable. That means if your debt is reduced by $50,000, the IRS views it as income and imposes the corresponding tax. This can catch homeowners off guard during tax season, as many of them don’t know the tax implications at the time of the modification.

To avoid such incidents, the IRS announced in 2007 that Loan modification would no longer be classified as “prohibited transactions.” This applied to all loans originated from January 2004 to July 2007, the peak of the sub-prime boom, and those due to adjust from January 2009 to July 2012. If your mortgage falls under these categories, you won’t have to file a 1099 declaring the change as taxable.

A loan modification is much like going to court: you can save your money and get a court-appointed lawyer, or you can invest in professional representation and get the best mortgage assistance. Your loss mitigation won’t happen overnight, but if with a capable Loan Modification Attorney, you can be sure you’re in good hands.

Loan Modification Attorney
http://www.articlesbase.com/real-estate-articles/home-loan-modifications-and-your-credit-score-733499.html

Defining the loss mitigation process:

For all practical purposes, loss mitigation can best be viewed as a powerful weapon that can stop your pending home foreclosure dead in its tracks. The loss mitigation process itself is without bounds, but always involves effective communication to be successful. If you are too stressed out about the possibility of foreclosure to represent yourself effectively throughout the loss mitigation process, then you need to employ a professional foreclosure consultant. They, like the loss mitigation teams employed by your mortgage lender, are experts that deal with these issues on a daily basis.

The loss mitigation process involves a set of tools that you as the homeowner are privy to. You can utilize these tools to achieve victory from a seemingly bleak situation. Negotiating with your lender, or having a professional foreclosure consultant to do it for you, is your ticket to retaining ownership of your home. Before we go further, please realize that millions of Americans are at risk of foreclosure even as you read this. Lenders appreciate a motivated homeowner who cares enough to communicate regularly with them and that tries to initiate positive plans of action to bring their loan current. Nobody wants you to lose your home to foreclosure.

The loss mitigation process can do more than just stop the foreclosure process; it can protect the equity that you have built up over the years in your home. With proper loss mitigation techniques employed, your lender will be more than happy to work with you and develop a plan for mutual satisfaction and appeasement. Loss mitigation involves a set of utilities that can stop a foreclosure. They include:

-Partial claims;

-An “In-Lieu” Deed of foreclosure;

-Forbearance agreements;

-Mortgage refinancing;

-Modification of your loan;

- And more…

The ultimate goal for all loss mitigation is to stop the foreclosure process and to establish a mutually beneficial plan for repayment of the mortgage loan including payment amounts and dates. However, nothing is set in stone and unless you are able to convince your lender’s loss mitigation specialists that you are a worthy gamble, they will still elect to go ahead with the foreclosure. Remember: their job is to minimize the losses that will be incurred by the lending institution – not to keep you in your home. If you are unable to thoroughly convince them that your plan is better for them than a foreclosure will be, then they will certainly foreclose. It’s just business in its raw form.

Stopping foreclosure is all about two things: loss mitigation and time. Once the foreclosure process begins, it seems that time cannot be slowed even for a second. The pressures continue to build and it can make you feel helpless – like there’s just no hope. But, there is! Consider having a professional foreclosure consultant assist you with your loss mitigation process every step of the way. It will save you time, money, frustration, worry, embarrassment and mistakes. It will also very likely keep you and your family in your home where you should be. Contact us at Stop Foreclosure Help Today and let’s discuss your possibilities.

 

Igor Mosyak
http://www.articlesbase.com/loans-articles/understanding-the-loss-mitigation-process-can-save-your-home-from-foreclosure-674193.html

How do I stop foreclosure on my home/shop? I live in a metal building and have 33 acres and have been unemployed over 1yr. My lender is calling the note in 18 days no one will lend to me because the building has more storage area2/3 than living1/3 will not meet requirements for home loan and if it did the property would be worth more than the home to get home loan.

You cannot unless you pay your loan in full and bring it up to date.

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