How has the Subprime Crisis affected you?
- Foreclosure?
· Victim of Real Estate Fraud?
· Skyrocketing mortgage payments?
· Negative credit rating?
· Victim of Predatory Lending?
· Misled by lenders?
Call or e-mail me to learn about your legal rights. Maybe all is not yet lost...
Lowell
Homeowner’s Checklist for Avoiding Foreclosure: Part 4 of 4
You may not be having financial trouble now, but many people do have money problems at some point in their lives. This checklist is not comprehensive and is not intended to provide legal advice. If you need legal advice, you should speak with a lawyer -- whether it be me or another attorney who can help you in this area.
The best way to avoid foreclosure is to make your mortgage the first bill that you pay each month. However, that is not always possible. The following pages provide general suggestions and ideas as to how you can prepare for and work through tough times.
I will be publishing this Checklist in Four Weekly Installments (see schedule below). However, please e-mail me at lowell@steigerlaw.com if you would like the entire checklist and I will be happy to forward it to you immediately!
Publishing Schedule of Homeowner’s Checklist for Avoiding Foreclosure
April 12, 2008: Before Trouble Starts
April 19, 2008: When Things Start to Feel Tight
April 26, 2008: After Falling Behind
May 3, 2008 : Other Things to Know
Talk to a lawyer or counselor experienced in default and delinquency counseling
· If you cannot reach a solution with your bank
· If you disagree with the amount the bank says you owe
· If you wish to consider filing bankruptcy
· Foreclosures move very quickly
· Keep track of deadlines
· Do not wait until the last minute to get help
· Your rights will be cut off once the foreclosure sale takes place
· Foreclosures are public
· Foreclosure notices appear in newspapers and court records
· Some people may try to take advantage of you by offering a quick fix
· Carefully review offers to refinance or consolidate your credit card debts with your mortgage as this may make matters worse
· Avoid deals with high interest rates and large fees
· Do not agree to sell your home to someone who claims they will lease it back to you
· Talk to a lawyer or housing counselor before you sign anything
· Where to go for help
o Your local non-profit housing organization
o Your mortgage company
o The U.S.
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