Stop Foreclosure Without Bankruptcy

Stop Foreclosure without Bankruptcy, save your home
and your credit. If you are in financial trouble you need
to make sure that you damage your credit as little
as possible.

We live in hard financial times. The cost of living keeps
going up and at the end of the month you don’t have
enough money to pay all your bills. You may be even
behind on your mortgage payments.

Do not despair; there exist options for
stopping foreclosure.

Here are some of the possibilities:

• Your best option is Loan Modification if you can qualify for it.
• Forbearance  - it means paying in full your unpaid balance and become current on your payments.This very rarely works in your favor.
• Short sale. Your lender has to agree to accept a lower price for the sale of your home in order to clear the debt.
• Deed in Lieu It consists usually in transferring the title of the your home to your lender.

If none of the above options work in your case you may have to consider filing For Bankruptcy.

You also need to know that in the case of Foreclosure if the sale of your home does not cover the amount you owe, your lender can file a deficiency judgment against you for the difference. The only way out of this situation would be for you to pay or to file for Bankruptcy.

These are some important facts to consider
regarding Bankruptcy:

• Bankruptcy is only a temporary solution for keeping your home.
• Under Chapter 7 you can be relieved from unsecured creditors like credit cards, but your debt towards your lenders is secured by your property. You are still at their mercy.
• Chapter 13 will allow you to renegotiate your debt with your creditors and workout a plan to pay off your debt. Don’t forget that
  not everyone can qualify for Chapter 13.

In both cases you need to hire an attorney, which could be very expensive. Also remember your credit will be destroyed.

Saving your home and your credit are both very important to you.

Foreclosure will damage your credit for up to seven years. Bankruptcy will stay on your report for up to ten years.
You need to make sure that whatever decision you make it will benefit you the most.

If you want to keep your home Loan Modification is your best choice to stop Foreclosure without Bankruptcy. And do not forget that you can apply for Loan Modification only once. Don’t loose this opportunity to do it right..

Your first step should be to consult with a Foreclosure specialist. You will find out right away which option fits your situation best.

I have helped many people keep their homes and regain peace of mind.
I am on your side I will help you understand your options.
Call me today. Time is of essence.