| With the current economic crisis there are many | | | | lender explaining him your current situation and |
| home owners who are losing their homes because | | | | your incapacity of making monthly mortgage |
| of not being able to make the mortgage | | | | payments for the home. If you know how to do |
| payments. Even though the government already | | | | it the right way, you can use the letter to prolong |
| tried a Mortgage Modification Plan; it was proven | | | | or delay the first step of foreclosure for more |
| not to be of any help for the majority of | | | | than six months. |
| homeowners facing foreclosure. Even the | | | | Foreclosure Court Hearing |
| president has admitted to the failure and has | | | | Every citizen has the right to request a Hearing at |
| assured to take some drastic steps to reform | | | | their local Circuit Court and you can also utilize the |
| the current situation. | | | | opportunity to explain your reason for not being |
| One of the main reasons for the Mortgage | | | | able to make the monthly mortgage payment. If |
| Modification Program not being successful to | | | | you know how to approach this you can prolong |
| prevent foreclosure is because it has a long list on | | | | property foreclosure for even more than one |
| mandatory requirement to qualify for the plan. | | | | year. |
| Only 1% of the people have been benefited by | | | | Housing Closing Contract |
| this plan and on the contrary it has proven to be | | | | Many people are not aware of the fact that you |
| more beneficial for the homeowners that do not | | | | can use the errors in the housing closing contract |
| require any help in the first place. | | | | for your own benefit. If you look closely through |
| If there has been the right policy implemented | | | | the contract details you will definitely be able to |
| from the start and the homeowner's knew | | | | locate couple of mistakes that can be used in |
| methods to fight against the foreclosure then we | | | | your favor. You can use these errors as a |
| would not have seen so many homeowners | | | | weapon to fight and delay foreclosure for years. |
| becoming homeless in such short span of time. | | | | All these strategies mentioned above can be very |
| But there are many policies that homeowner's | | | | helpful and help you in retaining your home if you |
| can make use of and stop foreclosure despite of | | | | utilize them in the right manner. There are |
| they not being able to make mortgage payments. | | | | lawyers using it on daily basis to fight the cases |
| I will take you through the overview of some of | | | | for their clients and in return charge clients |
| the strategies that can be utilized to help you | | | | hundreds of dollar as fee. |
| restrain your home for many more years to | | | | Now you are aware of these strategies that you |
| come without having to make the monthly | | | | can use to stay in your home for a very long |
| mortgage payments. Just make sure to utilize | | | | time, but this is just the tip of the iceberg; there |
| such STRATEGIES to your benefit and you will | | | | are many more strategies and legal tricks that |
| surely be able to stay in your home for years to | | | | you can use to delay the foreclosure process for |
| come. | | | | many years, even without making a single |
| Hardship Letter | | | | monthly mortgage payment. |
| Just draft an appropriate hardship letter to the | | | | |