Foreclosure 911 Help!!!

In case you have been living underneath a rock the mortgage industry has been getting hammered by the subprime fallout. Adjustable Rate Mortgages has been on the rise and homeowners have not been able to keep pace with their increased interest rates. So what’s next you have not made a mortgage payment in the last three or four months your lender files a NOD (Notice Of Default) it can be devastating news, but don’t throw in the towel yet. Here are some viable options to consider . 1 Refinance- Obtain a new loan to pay off the one in default
2 Foreclosure Consultant- Seek the services of a Financial Advisor or investment counselor. For a fee they will prevent lienholders from enforcing or accelerating the note, or help reinstate the, or get an extension or last but least arrange a loan or advance for funds for the owner.
3 Deed-In-Lieu- You can deed the property to directly to the lender in exchange for canceling the secured debt.
4 Litigate- You can dispute the validity of the foreclosure by filing an action, restraining and enjoining the foreclosure.
5 Bankruptcy- You can file chapter 13
6 Sale- Owner sales property before Trustee Sale
7 Walk- You can just simply vacate all together when lender completes foreclosure.


Here is a website I encourage taking a look at www.foreclosureuniversity.com It goes into in-depth details about foreclosures and the information is free. It contains a foreclosure flow chart, explains short sale, and foreclosure laws
.