free foreclosures

Every year over 8 million homeowners are seeking helppreventing proceedings. This is a stunning 30 yearhigh. Experts project that by 2006, 12 million homeowners willbe teetering on the brink of foreclosure. Many homeowners arenot aware that the can prevent and save their house.Did you know that you can’t stop the proceedings up to an hourbefore the auction takes place?

As a homeowner facing there are various optionsavailable. We will briefly examine some of the most popularoptions.

Reinstate the loan – Ideally you would like to be able to paythe loan payments that you are behind on and bring the loancurrent. These costs would include whatever owed on the missedpayments, and any additional late charges or attorney fees. Thisis the most efficient way when preventing foreclosureproceedings.

File for Bankruptcy - Some attorneys may advise a homeowner tofile for bankruptcy. This is a legal way to avoid theforeclosure process. However the process may still continue andyou will be stuck with bad credit for 7 years. You shouldconsult your attorney about the option of bankruptcy.

Sell your home – The problem with selling the home is that ifyou list it with and agent, and it still is not sold the lendersdoes not care, you are still on the clock. The bestway to go about selling the home in this situation is to contacta real estate agent that is familiar with investing.They may be able to put you in contact with investors that willbe happy to but your home. Preventing proceedingscan be as easy as getting in contact with a foreclosureinvestor.

Deed in lieu if – This is when you would voluntarilygive the house back to the lender. The lender is not obligatedto accept it. You should discuss with the lender how they willreport it back to the proper agencies. Should the lender chooseto refuse the deed they are required to file a Notice of nonacceptance with the county recorder.

Nothing – We mention this because many homeowners will ignorethe lender and do nothing. Don’t fall into this trap. You haveoptions when in foreclosure, you just need to talk to someoneand find out what the best options for your situation are. Visitwww.foreclosure-helper.com for a free no obligation consultationof your situation. One of our experienced foreclosurespecialists will contact you with a personalized situationanalysis.