DISQUS

Blown Mortgage: Avoid Foreclosure with these 7 alternatives

  • Bob · 1 year ago
    You forgot Yield Spread Premium (YSP). The kick-back scheme to mortgage brokers from the bank for getting you into a higher interest rate loan than you qualify for.
  • Toby · 1 year ago
    These are all well and good, but in my experience the lenders and servicers have been grossly understaffed to deal effectively with these strategies. In the squeeky wheel gets the grease philosophy the lenders only seem to want to deal with people when they are at the cusp of foreclosure, often when it is too late.
  • Tax Lien Properties · 1 year ago
    I have a real problem with the government taking money out of my check to give to someone that made a bad choice and bought more house than they can afford. I also have a problem with my tax dollars being used to bail out billion dollar corporations.

    There is a thing called personal choice and people should be responsible for it.
  • morganb · 1 year ago
    i agree 100% - how many other good things could our tax dollars go to if we
    weren't bailing out wall street and main street gamblers?
  • cgwiley · 1 year ago
    Selling you home to me is the best bet, and you can do the short sale, or if you have some equity in the home you can find an investor to purchase the house from your for what is owed on the house. Get our from under the property will save you stress and your credit.
  • UniqueSituation · 1 year ago
    Quick question. How do you find a "good" real estate attorney who specializes in foreclosures? Is there a place where they are rated? Thanks!
  • morganb · 1 year ago
    Hi,

    I don't know of a place that rates them, but you might check out http://www.loanworkout.org/ and http://www.iamfacingforeclosure.com/ to get a start.

    Best,
    Morgan