©winnond - freedigitalphotos

©winnond – freedigitalphotos

It’s never easy to face defeat, that’s why so many foreclosure victims wait until the last minute to ask for help. They think “if we can just make it through this month, things will be ok”, or maybe they think that if they put it off, a solution will somehow present itself. Whatever the thought process is, I can tell you from experience that homeowners in foreclosure wait until the last possible moment to take action. They certainly do a lot of research and talking, but research is not what I consider an action to stop foreclosure. In fact, I consider most research that foreclosure victims do a huge waste of time. It just allows them to put off taking action while still feeling good about themselves. It makes them feel like they are doing something about their situation, while in reality, they are being fed bullshit and bad information from all the scammers, “investors”, and all the other criminals out there.

Foreclosure victims need to establish a game plan and take action early. We have helped hundreds of people establish successful game plans that get their lives back on track and completely reverse the effects of foreclosure, so we know what it takes and we know it’s possible. The main downfall that causes someone to fail and lose their home is their unwillingness to take immediate action. Here is a simple game plan that can help almost every single person in foreclosure.

Step #1 – Recover from the financial hardship and find additional ways to earn/raise extra money. (ForeclosureFish offers many sources to help with this step) If you are going to keep the home, your number one goal should be to raise as much money as possible. Sell items, get second or third jobs, and do whatever it takes to begin hoarding as much cash as possible.

THIS IS IMPORTANT SO PLEASE READ: Do not send money to your lender if you do not have a deal/plan in place that is affordable and will get your mortgage back on track. Many people send thousands of dollars to their lender thinking it will stop foreclosure, when it only goes towards the fees and expenses. You must have a clear plan and agreement in place to assure the lender doesn’t take your home.

Step #2- Establish a list of acceptable options. When I say this, I do not mean to research “help” companies online to see what options they have available! There are only a handful of actual solutions to foreclosure and no one is offering some magical solutions that’s better than anyone else’s. The only difference is how it is marketed to you and how much it’s going to cost. You do not need to speak with a single company out there to establish your list of available options. If you are in foreclosure and you don’t currently have the money to pay the arrears, then you only have five possible solutions:

1. Sell your home
2. Sell your home with an option to buy it back
3. Refinance or get an equity line
3. Workout a solution with your current lender
4. File bankruptcy
5. Give up the house

Every single method to stop foreclosure derives from one of these five basic options. Regardless of how it is marketed to you, if you are in foreclosure and you can not pay the arrears, then you will be choosing one of the solutions above to save your home. A few companies (like ours) offer all of these solutions from one place, where other companies only offer one solution. Obviously the company/person who only offers one solution will be directing you towards their solution, rather than the solution that best fits your needs. I recommend staying away from a company who only offers one solution to a problem with so many possible answers.

Step #3 – Contact your lender immediately and let them know about your situation. Be honest with them and set realistic goals to get the loan back on track. It’s very important to do this early, even before you miss a payment if possible.

If you decide that the home is not going to be affordable, then you must begin to sell immediately. Do not waste time; contact a qualified local Realtor (who charges a reasonable commission with no up front fees) and list the house immediately. If you need a referral for a good Realtor, please contact us. Do not worry about the commissions and don’t try to sell the home on your own. You have more important things to worry about and better ways to spend your time.

By completing the three steps above, you should be well on your way to stopping foreclosure and you should be able to avoid all the scams and criminals out there trying to steal your home.

To get a free professional foreclosure evaluation, please click here.

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