Tired of Being In Foreclosure?

Are you feeling tired of your foreclosure situation and don’t know what to do?  I remember a young lady who was just so overwhelmed in the midst of her foreclosure and financial demise that she literally felt stuck.  She was up to her eyeballs in debt and tired of going in and out of foreclosure with her family home.  Well what do you think I told her?  That’s right I gave her my quick and easy four step formula for getting unstuck and stopping foreclosure.  And now I’m going to share those same four steps with you.

It doesn’t matter how stuck you are I promise you this simple Four Step Formula will work for you.  This plan will and can work for every person who is in foreclosure.  Depending on where you are financially it may involve you adjusting your lifestyle by changing, where you live or the way you live.  But the truth is you can always recreate the type of lifestyle you want to have.  Simply identify where you are and get started!  

First Step is to to review your situation.  If you can answer yes to the following question then look for a mortgage broker to convert your high interest debt to low interest debt through a mortgage on your home.  Use the information on this blog to help you follow these steps.

• Am I working?
• Is there equity in the home?
• Is my credit any good?

Second Step if you answered no to the above questions then it’s now time for you to learn about your property and the process of the foreclosure that you may be involved in. 

• Research and learn about the foreclosure process and law in your state
• Establish what stage you currently are in the foreclosure process
• Establish how much time you have left in that state and all the additional stages that are to come

Third Step if after answering the above questions is to consider putting the house for sale.  I know you may feel attached to the house and I understand it may hold much sentimental value for you.  If so why not plan to buy it back later on when you are more financially stable.  But for now you just may have to sell.   

• Call a realtor to assess the Comparative Market Analysis of your property
• Ask the realtor to value the property and tell you a listing price for a quick sale if there is no time and a long sale if there is time

Fourth Step if there is very little or no equity at all then work with your realtor to negotiate a short sale with the bank.

• Accept that right now the action of selling the house is better than going into foreclosure and losing your credit
• Negotiate an agreement with the bank to sell the property for less than the amount owing on it
• Doing this will allow you to get out of a house where there is no longer any equity and save your credit so you can get into another house.

Well there it is in simple language.  The Four Step Formula for you to take if you are in foreclosure and feeling stuck.  A simple refinance or a quick sale for the house.  Or putting it up for sale.  Some may be feeling “well I don’t want to have to sell my home.”  Well think of it this way!  Selling your home doesn’t say anything bad about you. 

Even if it is a house you really really like.  All it means is that “you sold your house.”  You can always buy another house.  Especially in this depressed market.  You can even learn how to negotiate one of those low down payment deals.   

In other words I’m encouraging you not to become stuck to your house.  Consider it as a necessity for life in this country but know that you can always find another house.  Take some time and work on yourself and build your finances. 

You will find plenty of valuable information on this blog that will help you adopt the right mentality, build the right team of knowledgeable people around you and raise capital for your new idea or business.

Thank you for spending your time on this post. Keep visiting The Foreclosure Doctor Online for new information. We have a wealth of new information to help you Stop Foreclosure. Anything from how to write a hardship letter, to how to refinance your home.

The Foreclosure Doctor (Online)