Preforeclosure--What Owners In Trouble Need To Know

This blog report will quickly arm you with handy, useful information so you can make the right decision quickly. It covers hard-hitting, straightforward issues and concerns you need to know to tackle one of your biggest financial challenges - !saving your home and your credit!

The Biggest Mistakes

As a home owner, this information will help you not only to stop Foreclosure, but also save thousands of dollars by avoiding the biggest mistakes so many people make.

This blog report was constructed so that you, the homeowner, will know what you need to know in order to possibly save your home, your credit, or both!

Like most home owners, you may be having a hard time finding out what and who to believe. Most home owners desperately seek solutions they need so badly when faced with foreclosure.

Unfortunately, there are few people out there who can creatively salvage an almost impossible-looking situation, thereby saving you from foreclosure and/or badly damaged credit.

Think of all the possible issues in the real estate market - interest rate fluctuations, taxes, credit checks, "points", pre-payment penalties, brokers commissions, loan origination fees, and so on and so on! It's a big confusing world.

It gets even tougher especially when it does not seem like you have equity in your house to sell traditionally. In a market saturated with houses for sale a quick traditional sale through a real estate agent is not often a realistic solution.

Sometimes, you might get a lower monthly payment you can afford. However more often than not, when you are faced with a foreclosure, your credit will be your worst enemy in the eyes of most lenders.  So as attractive as this might sound sometimes, it may no work for you.

When Foreclosure looms, you are faced with a very emotionally charged challenge. Nobody wants to see their family out in the streets...

Most owners in situations like yours get intense feelings of doubt, fear and anxiety and begtin asking themselves some tough questions:

* My credit is bad, can I refinance?
* My bank has already started the foreclosure process. Is it too late to receive some type of foreberance?
* I can't afford the payment I have now. Is there any way to modify my mortgage and possibly lower my payment?
* Will Banckruptcy allow me to keep my house?
* Should I walk away and relinquish my rights to the property?
* What kind of money do I have to even rent another house for my family?
* Who can I get to negotiate a possible shortsale?
And so on and so on...

Unfortunately, these emotions rule the situation instead of logic making even bigger mistakes. When faced with foreclosure, you must have a plan!

If You Can't Work Something Out With Your Lender or Refinance, What then?

It is often said that people don't plan to fail; they simply fail to plan.
This is important. Let's repeat: It is often said that people don't plan to fail; they simply fail to plan!

It's important to have the right person in your corner; I suggest that htis person be a real estate investor. In times of financial stress, who you talk to, and when, could make a difference between avoiding foreclosure and saving your credit or losing your home and damaging your credit for years to come.

When you are in financial trouble, you are the least protected in the real estate industry. Most real estate agents and brokers work for the person who pays them - if you cannot afford them, or if your home does not have enough equity, or if they can't find a buyer to wait out the lengthy shortsale process, it will be difficult for you to hire them to represent you.

Whenever possible it's always a good idea to explore all your options. When all is said and done, you may need and investor who can quickly evaluate your situation and give you possible creative solutions that allow you to maintain your dignity and possibly aid you in finding another residence.  Remember, they are investors and come across properties all the time; between the two of you, an arrangement may be made to get you into another place.  Few other professionals would be able to do this for you.

Every individual situation is different, and nobody can give you a canned solution and not all investors operate in the same manner; so do your due diligence and check them out for options that you can live with. Remember, however, you may not have forever to do much research.  So, as soon as you believe you've heard the best option, act fast to accept the offer.  Remember, the clock is still ticking toward the courthouse steps.  The best investors are not out to steal your house, we only want to create a win-win solution for all parties even for the ugliest looking situations.

So, go ahead and call the numbers on those "We Buy Houses" signs, or open those letters from the real estate investors that came in the mail, or, maybe, call your realtor/loan broker and ask for one of their investor sources.  A good investor should offer help and advise, and possibly buy your house, saving you from foreclosure.  It may take a few minutes of your time, but it might be the best use of your time.  Remember, you really don't have any to waist. 

Sincerely,
Michael E. Jackson, Acquistions Manager

Capitol Property Solutions
3909 Matterhorn Street
Montgomery, Alabama 36116

1-866-942-6883

http://www.capitolpropertysolutions.net/stopforeclosure.php