website_foreclosure

Are You Facing Foreclosure?

One note before we begin: We are not attorneys and cannot give legal advice. The
information that we are sharing with you is for informational purposes only and should not
be considered legal advice. If you require legal advice, please consult with an attorney.

Foreclosure is a process that a financial institution can use to take back your home if you
have fallen behind on the monthly payments. Explained below are several ways to deal with
the bank once you start falling behind on your payments.

The first rule is to never ignore letters from your lender. Establish a dialogue with them as
soon as you can once you start falling behind on your payments or when you start receiving
letters from them. Explain your financial situation and see if they will work with you to find a
solution. Most lenders would rather work something out with you rather than proceed with
the foreclosure. The following are a few solutions that the lender may consider.

If your financial problems are temporary in nature (such as temporary unemployment, a
medical situation, etc.), you can apply for a forbearance. Your lender will ask you to fill out
an application or questionnaire in order to determine your eligibility. If you qualify, your
lender may arrange a special repayment plan based on your financial situation. The lender
may even approve a temporary reduction or suspension of your payments. Usually, your
missed payments are put at the end of your mortgage term.

If your temporary financial problems have resulted in a lower net income than prior to the
default, you may qualify for refinancing or a mortgage modification. In other words, the
lender may allow you to refinance the mortgage or extend the term of your loan. This will
help you to make up the missed payments or allow you to stay current on your loan by
making your payments more affordable.

A third option is called a partial claim. The lender may work with you to obtain an
interest-free loan from HUD to bring your mortgage current. When your lender files for a
partial claim, HUD will pay them the amount needed to make your mortgage current. In turn,
you must promise to pay back HUD this amount. A lien will be placed on your property and
this amount is due when you sell the house. This payment due to HUD is interest free.

As a final option, you can attempt to sell your house. Selling your house prior to the
foreclosure sale can do several important things for you. First, it can put a halt to the
foreclosure proceedings and save your credit. Saving your credit means that a foreclosed
mortgage will not appear on your credit history. A foreclosure can remain on a person's
credit history for years and may interfere with you making purchases in the future. This is a
serious situation and should be avoided if at all possible. Secondly, stopping the
foreclosure proceedings will help relieve some of the stress, anger and despair you are
probably feeling thus allowing you to get on with your life and start the rebuilding process.

When working with us, we will always attempt to help you SAVE your house first. We help
you understand the options described above and provide whatever help we can in an
attempt to help you keep your house. In some situations, however, none of the options
described above work and the lender continues down the path of foreclosure. In these
cases, we can, if you wish, examine your situation to see if we can purchase the house. If
we can come up with a plan that meets your needs and works for us, then we may offer to
purchase the property. If we are able to purchase the house prior to the Sheriff's auction,
then the foreclosure process is halted and your credit history will not include a foreclosed
mortgage.

If you and your family are facing foreclosure, please contact us. We'll spend the time
listening to your situation and see if there is anything we can do to help. While we cannot
promise to save your house or buy your house, we do GUARANTEE to listen and do our best
to lay out all of your options so you can choose what's best for you and your family.

What have you got to lose? Contacting us is free, confidential and comes with absolutely no
obligations at all. We understand how stressful this situation is for you and we would love
the opportunity to help.

Contact us today!
1-866-304-8926 ext. 38
(toll free, 24 hour recorded message)
or e-mail us at in tegrity@buying-selling-houses.com

Sincerely,
The Staff at Solvential Properties, LLC


		- STOP FORECLOSURE -