When faced with a choices of losing money by selling your house versus foreclosure, where the home is taken from you, you have to carefully consider the outcome when you need to sell a house. As a loyal ship’s captain, you might be wiling to go down with the ship. As a homeowner who is underwater with too high a loan-to-value ratio or unable to come up with the house note each month, can you say the same? Whether you are proactive and sell or wait for the foreclosure, you wil

What do I do if I’m forced into selling my home but I want to avoid foreclosure? Can foreclosure even be avoided when experiencing financial troubles? Surprisingly, the answer is usually, “Yes you can avoid the legal process which strips you of your home!” Whether the end result is that you can or should stay in the home is another question. After attempting the steps to avoid foreclosure, you will be in a better position to make that call. What are the steps to prevent forec

The banks sent you “payment overdue” notices and now you want to put your house up for sale. Obviously! You want to sell your home fast – to avoid foreclosure. Ideally, you hope for your asking price, but at this point, you’re even considering a short sale. The problem… You have tenants in your house who pay rent regularly. Can you actually sell the house with renters still living in the property you own? The approach… There’s no cut and dry correct answer to this question. F

Every new wave of the Making Home Affordable Program (HAMP), as well as every wave of foreclosures, puts the banks in the spotlight in ways they seldom want to be. After many banks received TARP bailouts, some have not acted the way many expected them to, whether they got a dime from the Feds or not. Their Slow Response to the Crisis… HAMP was conceived promptly to meet a crisis, so banks had to prepare to implement it quickly. Participation in the program was voluntary and e

The recession may be winding down in the minds of economists, but tell that to someone who is unemployed or in the throes of foreclosure. Even tell that to someone scanning the news, and it’s a hard sell? Why? The foreclosures keep on coming. At the end of the third quarter of 2009, one in three homes was in foreclosure or delinquent, often the first step to worse things to come. Why does the mortgage crisis continue? New groups of people are affected. The mortgage crisis sta