This is especially for those of you dealing with financial difficulties. I hope this helps in some way to make it easier when dealing with your challenges. There is light at the end of the tunnel. Blessings...Deanne
Click below for video and enjoy!
Sunday, May 30, 2010
Friday, May 28, 2010
Tips For Handling Foreclosure
When faced with foreclosure it can be very overwhelming. The stress alone makes it hard to find the solutions and unfortunately there are people out there claiming to want to help but only with the intention of making money. You will notice loan modification companies, attorneys, realtors, mortgage agents and investors all have jumped in to the arena of foreclosure assistance.
The first thing I want say is that you will need to do your homework. If you are serious about keeping your home and will do whatever it takes then put in the necessary time to know what foreclosure means and how it works. Each state is different so be sure you check into your particular state laws. There are many resources now that were not available several years ago such as your state website which can direct you to who handles foreclosure information in your state. I have found different entities handle complaints and information. Some states have Mortgage Lending Divisions and others go through Business and Industry etc. so just search or call and you will be directed to the right place.
As you research you will find many options. Be careful with promises that sound too good to be true. There are many scams and they disguise themselves very well. Be sure to check out their business license, the Better Business Bureau, FTC, and any other state entities they may be licensed with to do business. This way you will find out about complaints and the nature of the complaints not to mention if they are even licensed.
At times it will feel like a lot of work to go through the motions of homework but it is worth it to protect yourself from any further stressful situations. There are many good books on the subject as well but be sure to get the most recent so it will have accurate information because laws and information are changing so much. Also, make sure the author is a credible source to ensure better advice on foreclosure.
Deciding on whether to short sale, modify, or just walk away is a big decision that should not be taken lightly and I suggest looking into each one so you will make the best decision for you and your family. Honestly, if you bought the house with little or no money down then your investment in the house is not much different than had you rented and be sure it is not only an emotional attachment because with housing prices lower it may be better to move on. On the other hand, if you refinanced or bought with substantial money down then you have more than emotion going on.
If you feel you were done wrong by your lender by all means pursue it. Do not let them intimidate you nor let the law process. I cannot state enough that if you do your homework you will feel empowered and less stressed. Find others who have fought and learn from it. Remember, no one can take your peace without your permission. If you do it can affect your relationship, job, and most of all your sanity!
This is not intended as legal advice. I am licensed Mortgage Agent in a city that has made headline after headline for the housing market - Las Vegas. I myself have been through foreclosure starting three years ago with the first sale and still in the courts now. I represented myself several times successfully and now have the assistance of an attorney as I am suing them rather than them me. My house has been sold 3 to 4 times by my servicer and each time I got it back but now I am trying to make it permanent. They say what goes around comes around so I will be writing on my experiences so as to help others and maybe the blessing will come back to me.
Deanne is a Life and Finance Coach, speaker, author, and dance instructor/dancer.
Deanne's life experiences and challenges have given her the knowledge and understanding to help others to find their gifts and overcome obstacles
Deanne's passion is to help others through encouragement, information, and action steps to achieve their true calling in life. Everyone is called to a life of blessings, abundance and peace. Deanne helps them to find their gifts and blessing blockers as simple as possible to reduce stress and make the journey a joy.
The first step on the journey is to sign up for Deanne's free email coaching at
http://deanneorear.com/sq
Her husband Sythe did a video on foreclosure for inspiration
http://www.youtube.com/watch?v=O9gt3ofAw7s
The first thing I want say is that you will need to do your homework. If you are serious about keeping your home and will do whatever it takes then put in the necessary time to know what foreclosure means and how it works. Each state is different so be sure you check into your particular state laws. There are many resources now that were not available several years ago such as your state website which can direct you to who handles foreclosure information in your state. I have found different entities handle complaints and information. Some states have Mortgage Lending Divisions and others go through Business and Industry etc. so just search or call and you will be directed to the right place.
As you research you will find many options. Be careful with promises that sound too good to be true. There are many scams and they disguise themselves very well. Be sure to check out their business license, the Better Business Bureau, FTC, and any other state entities they may be licensed with to do business. This way you will find out about complaints and the nature of the complaints not to mention if they are even licensed.
At times it will feel like a lot of work to go through the motions of homework but it is worth it to protect yourself from any further stressful situations. There are many good books on the subject as well but be sure to get the most recent so it will have accurate information because laws and information are changing so much. Also, make sure the author is a credible source to ensure better advice on foreclosure.
Deciding on whether to short sale, modify, or just walk away is a big decision that should not be taken lightly and I suggest looking into each one so you will make the best decision for you and your family. Honestly, if you bought the house with little or no money down then your investment in the house is not much different than had you rented and be sure it is not only an emotional attachment because with housing prices lower it may be better to move on. On the other hand, if you refinanced or bought with substantial money down then you have more than emotion going on.
If you feel you were done wrong by your lender by all means pursue it. Do not let them intimidate you nor let the law process. I cannot state enough that if you do your homework you will feel empowered and less stressed. Find others who have fought and learn from it. Remember, no one can take your peace without your permission. If you do it can affect your relationship, job, and most of all your sanity!
This is not intended as legal advice. I am licensed Mortgage Agent in a city that has made headline after headline for the housing market - Las Vegas. I myself have been through foreclosure starting three years ago with the first sale and still in the courts now. I represented myself several times successfully and now have the assistance of an attorney as I am suing them rather than them me. My house has been sold 3 to 4 times by my servicer and each time I got it back but now I am trying to make it permanent. They say what goes around comes around so I will be writing on my experiences so as to help others and maybe the blessing will come back to me.
Deanne is a Life and Finance Coach, speaker, author, and dance instructor/dancer.
Deanne's life experiences and challenges have given her the knowledge and understanding to help others to find their gifts and overcome obstacles
Deanne's passion is to help others through encouragement, information, and action steps to achieve their true calling in life. Everyone is called to a life of blessings, abundance and peace. Deanne helps them to find their gifts and blessing blockers as simple as possible to reduce stress and make the journey a joy.
The first step on the journey is to sign up for Deanne's free email coaching at
http://deanneorear.com/sq
Her husband Sythe did a video on foreclosure for inspiration
http://www.youtube.com/watch?v=O9gt3ofAw7s
Tuesday, September 22, 2009
Behind on payments?
Many people these days have already had this issue or will have based on the current unemployment rates. If this happens to you or someone you know the first thing to do is call your lender/mortgage service company and let them know of your hardship. Be sure to write down date, time, and who you spoke with (full name and extension is best). They will let you know what they may be able to do. Try to do this before it gets to far behind so you do not go into default and start the foreclosure process.
When you call if you get a representative that is less than courteous I suggest you excuse yourself and call back later as chances are you will get another person to assist you. In fact, it is not at all unusual to get different people each time you call so writing names and extension down is vital so you can work with the one who best assists you.
Most of all remember you are not alone. Be strong and know that you did not ask for the hardship and you deserve a way to work it out. Do not put up with negative or abusive behavior. Just the fact that you are calling puts you in a better place than most as they usually avoid it due to the stress or fear.
When you call if you get a representative that is less than courteous I suggest you excuse yourself and call back later as chances are you will get another person to assist you. In fact, it is not at all unusual to get different people each time you call so writing names and extension down is vital so you can work with the one who best assists you.
Most of all remember you are not alone. Be strong and know that you did not ask for the hardship and you deserve a way to work it out. Do not put up with negative or abusive behavior. Just the fact that you are calling puts you in a better place than most as they usually avoid it due to the stress or fear.
Monday, August 17, 2009
Mortgage Crisis Over?
Just because you do not see the headlines focusing on the Mortgage Crisis does not mean we are doing better. Foreclosures have actually gone up in some states after moratoriums have been lifted and lenders are short handed to get through the loan modifications requests. Its no secret that you can be on hold for what feels like an eternity. Even Congresswoman Waters (CA) was shown on a news special in the past trying to help people only to get the run around. Click on link for her eye opening story
http://abcnews.go.com/Blotter/story?id=6702731&page=1
I read an article that really shed more light on why lenders do not always have incentive to work with homeowners. Mortgage lending companies often have foreclosure insurance, creating a lack of incentive for them to work with homeowners. Lending companies have foreclosure insurance on about 70 percent of homes with loans. Of course if mortgage lending companies try too often to cover losses by requesting foreclosure insurance payments, their insurance companies could increase their premiums dramatically.
It seems that we will be in an uphill battle to "fix" the issues if you cannot get through by phone and lenders have insurance to help them. I myself know the people and places to go to for help but two years later I am still battling for my home of almost 11 years. Stay tuned I have a lot of information and I am ready to share it all!
http://abcnews.go.com/Blotter/story?id=6702731&page=1
I read an article that really shed more light on why lenders do not always have incentive to work with homeowners. Mortgage lending companies often have foreclosure insurance, creating a lack of incentive for them to work with homeowners. Lending companies have foreclosure insurance on about 70 percent of homes with loans. Of course if mortgage lending companies try too often to cover losses by requesting foreclosure insurance payments, their insurance companies could increase their premiums dramatically.
It seems that we will be in an uphill battle to "fix" the issues if you cannot get through by phone and lenders have insurance to help them. I myself know the people and places to go to for help but two years later I am still battling for my home of almost 11 years. Stay tuned I have a lot of information and I am ready to share it all!
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