Why Do You Think Financial Resolutions Never Work to Stop Foreclosure?

Danny had called me this morning to talk about his New Year’s Resolution.  He was clear and concise.  At least that is exactly what he proclaimed.  He was going to get out of debt this year and start building wealth.  He declared it and spoke it and there was so much confidence in his voice that he almost had me totally convinced.

 

I know you’ve been there.  You’re there right now.  It’s a New Year and you’ve just finished making a promise to yourself.  You are going  to get out of debt and turn your financial life around completely.  But I’m leaning over my desk now and looking you square in the eye and asking you point blank, “Are you really?”  No you’re not!  Who are you kidding?

 

Didn’t you just do what everybody else does?  You declared, vowed and uttered a New Year’s Resolution.  That’s what you’re suppose to do as you start the New Year.  Right!  And getting out of debt, stopping your foreclosure and losing weight are the number one things on your agenda, aren’t they?   Yes it is true that most people are feeling warm and fuzzy around their new plans right now.  But it’s also true that most people will drop those New Year’s resolutions and resort back to their old ways of being quite quickly.  Probably before the month is done.

 

Yes Danny and most others will fail to accomplish what they promised they would do.  But it really doesn’t have to be that way.  You can choose to have power with your “Word” and your “Promise” to yourself which you so fondly call your “New Year’s Resolution.”  So I’m going to share three major tips most people miss when it comes to keeping their New Year’s Resolution.  I’m focusing on financial resolutions but this can easily be applied to all other aspects of your life. 

 

1.       Create your resolution as a clear, focused, measurable objective or goal

The truth is if you aim at nothing you will hit it every time.  You must establish a clear focus and identify markers that you can use to measure your results.  Without a practical and tangible way to measure your results how would you even know how close you are to reaching your goal.  If you have a clear picture of the future then you’ll take giant steps.  If the pathway ahead of you is fuzzy and uncertain then you would take hesitant steps.

 

2.       Develop a plan of action that brings your resolution into reality. 

Remember a New Year’s Resolution is not reality.  It exists solely as a possibility.  It is reality that is unformed and non-tangible.  There is a gap between your resolution and your current reality.  The only thing that will reduce that gap and bring your new possibility into reality is the actions you take to put your plans in place.  So you must have a plan and you must have action.  That is the intermediate step - a plan of action.

 

3.       Build your New Year’s resolution into a powerful resolve.  It’s just that simple.  In order to declare a New Year’s Resolution you must first be resolute.  And in order to be resolute you must have resolve.  What is resolve you ask?  I define it as an unwavering commitment to do or accomplish a task even if it kills you.  When you come to the place where you are able to say “this shall be simply because I said it  shall be then you have resolve.   One of my mentors Jim Rohn talks about resolve in this way; They said I can’t climb this mountain.  It’s too steep, too treacherous, too dangerous and too hard!  But it’s my mountain.  And you’ll either see me waving from the peaks or dead on the side from trying.  This is a key ingredient which when coupled with the previous two will create a profound transformation in your life.  By embracing this attitude you will turn yourself into an unstoppable creature. 

 

By applying these three simply principles specifically to your financial goals I promise you can turn your entire financial situation around.  And you’ll have an amazing story to tell of personal victory and triumph experienced as a result of your New Years Resolution.  This time by following these three principles you can really begin to invent yourself newly bring a whole new person to your circumstances. 

 

Inside your New Year’s Resolution there is a dynamic commitment not just to the task or goal you set out to accomplish but to yourself.  You probably never recognized it before but you made a promise to yourself.  The question now becomes “How good are you at keeping that promise you made to yourself?  Are you going to be stuck or are you going to be powerful.  By standing in the place of “Resolution” and clinging to a mighty “Resolve”  you actually cause a shift in your life that will alter your future.  So let’s just see.  What is your resolution?  What actions are you taking today?  Do you have resolve?

 

 

The Foreclosure Doctor (Online)

How Can I Communicate Powerfully to My Banker While Facing Foreclosure?

John and Shawna were were sitting alone in their home and feeling helpless and hopeless. They had just gotten off the phone with the bank.  They felt hurt and violated. How could anybody be so rude? They had never felt so abused and certainly never been so kicked around. They tried for months to get in touch with this same banker and talk to someone who would listen to their case.  But then they kept on getting the run around. Now, after months of not getting a response back from the right people, the bank called them.  But they didn’t  even want to listen to their story.  They simply called to say you have 30 days to either pay up or get out of the house. But guess what was even more devastating than this?

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Is President Elect Barack Obama Going to Stop the Foreclosure Procedure You’re Caught In?

Listen to this! Mr. Scott actually called his lender and assured him that he will be able to get out of foreclosure by January 20, 2009 because that’s the date President Elect Barack Obama will take office and change the foreclosure procedure completely. People actually believe that the President Elect Barack Obama, will fix their foreclosure crisis. Yes, that’s right. They think he has a Magic Button that he will press and the foreclosure procedure will change and all the foreclosures will stop. If you are one of those who is stuck in the foreclosure procedure and holding on to this absurd philosophy then I have news for you.

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Can You Win If You Owe More Than Your House is Worth?

Can you win if you owe more than your house is worth?  Well, that’s a great question, and it was on the mind of Mike and Dana for the last three months. They were stuck in foreclosure. They tried to sell the house, but they could not get a sale that would be high enough to cover the amount they owed.  

They felt like their world was caving in upon them. Have you ever had this horrible feeling?  Have you been stuck in the foreclosure procedure before?  Well let me tell you some hardcore facts about what you can do.

I shared with them some tips that proved to be so powerful that they asked me to share them with everybody else.  Why did they do that?

They did that because these ideas that I shared with them actually enabled them, though stuck in the foreclosure procedure, to actually find a way out, or creatively, strategically, and through the use of much innovation stop their foreclosure procedure and end the nightmare. 

I introduced them to a group I have partnered with called the Loan Negotiator Group.  By using the services of the Loan Negotiator Group. They were able to structure a way of getting out of their mortgage, getting out of their house, and getting into a new property.

So let me share with you what I shared with them.  First of all, if you’re stuck in the foreclosure process or struggling through the foreclosure procedure, you want to be able to understand exactly where you are in the foreclosure procedure.

You’ve got to know exactly what the law is in your state, in your county, and in your city.  Then you’ve got to know exactly how much your house is worth and exactly how much you owe.

It’s just so surprising to me when I speak to people on a daily basis, that I find that they know they’re in foreclosure, but they don’t know how much they owe.

Are you in this situation?  Well then you’re not alone in that issue.  Many others are.  They don’t know how much their house is worth. They don’t know how many months they are in arrears.

And I’m like, come on man, if you really are serious about stopping the foreclosure procedure, if you really want help to get back on your feet financially, it begins by doing the little things that you can do, taking the little steps that you can take. So the first thing you’ve got to do is find out all the information that’s available to you about your house.

Most of it you already know. How much are your monthly payments, how long has it been since you’ve made a monthly payment, how much are you in arrears on your monthly payment, how much is the bank foreclosing — what is the bank foreclosure amount that they’re asking upon collections.

How much are they trying to close out the loan for?  What is the total amount of the value of the house compared to the amount that you owe on the house?  Now, if you find yourself in a position where you owe more than the house is worth you know for sure that you must make a powerful choice about what you are going to do.

Upon finding out the proper information about exactly how much the house or even just a ball park figure about how much the house is worth you can decide if you wish to walk away or stay in the house and hope the value goes back up.

If you find out that you owe more money than the house is worth, then here is the question for you, and this is a question that only you can ask.  The question is, is it worth me for to stay in the house, or should I let the house go and get another house?

Wow, what an incredible question!!!  So, let’s think about this for a moment.  If you put $50,000 down to buy the house, and now you are in a house that is worth less than you put down then clearly you’ve lost your equity due to this housing crisis. 

However don’t despair, all is not lost. Because through some creative actions taken in this depressed market you will be able to buy another property fairly easily at a tremendous discount if you buy REO’s or auctions directly from a bank. 

So, suppose you bought a house worth $200,000.  You put $50,000 down to buy the house, and you had a mortgage of $150,000 on the house, and now the house is only  worth $150,000.

Well suppose it is worth exactly how much you owe, or maybe it’s even worth less.  If it’s worth $145,000, and you owe $150,000.  The question is, well, if I walk away from the house, I have walked away from my $50,000 investment. 

But then, when you think about it, if you stay in the house, you are staying in a house that is worth far less than it was when you bought it, so you are still out your $50,000 investment. The question is what can you do in this scenario, in this situation. What is possible for somebody? Well, two things:

1. Realize that the market goes up and down.  That is what real estate markets do. They just go up and down.  So, if you were to stay, it is possible over time the market will go back up. It will go back up to $200,000 where you bought it, it will go way beyond that, and you will regain your $50,000 deposit, and even more.

So, that’s one possibility. You could stay in the house, as long as you could afford to catch up on your risk up on the monthly payments, and make those monthly payments on a regular basis, you could stay in the house.

In other words, one way to win if you are in a house where the value has diminished so greatly that it is now worth less than the mortgage on it, is just hang tight. Hold on, that’s right, hold on for the ride.

It’s going to be a bumpy ride, but hold on. Don’t cut and run, hold on. Don’t pack it in, hold on. Don’t give up, don’t quit, hold on, because as the market went down, the market can come up and most economists and real estate investors believe that once we get a few months, maybe a couple of years behind us, we will be over this economic crisis, and most of the real estate markets will come back.

Also, know that they are not making any more land out there, and yet they are still making more people, so the housing market and the real estate industry, investment industry, still responds to the basic supply and demand pattern. As supply increases, demand diminishes. As supply diminishes, demand increases.

So, what you have to know is that by staying in the house and waiting, and just being patient, most likely, you will win.  This strategy works best if you are able to afford to wait.  If you can are not pressed to sell the house or cash out your investments.

2. Another way of winning is if the market were to diminish below the value of the house — or if the market were to diminish below the value of the loan on the house, and you end up owing more on the house than the house is really worth, walk away from the house.

What would happen if you walked away?  If you could walk away safely, if you could negotiate with the bank or the lender to do a deed in lieu where you just simply turn the house over to the banker, you could walk safely.

Now walking away from the house if the house is worth less than the mortgaged value against the house is effective if you know how to do it safely.

The power of this option is that in a down economy and a depressed market where there’s an abundance of properties to buy, you can turn the foreclosure circumstances/situations into a positive thing for yourself.

For instance, right now, instead of finding yourself in a position where you are in a house that had diminished in value so greatly, and that you’re not able to make the payments, and you don’t feel inspired to make the payments or excited about making the payments because the house is no longer worth what it once was, you can walk away from that house, but don’t just do it without structuring the walk away properly with your lender. 

Then you position yourself to buy another house way below market value.  How would you do that?  Well, you would not approach a realtor. You would not buy from the regular conventional market. Instead, you would buy directly from the bank.

The real estate market right now is filled to the brim with properties for sale that are being sold right now far below the current market value.

I’m not talking about <Garbled> of being sold below the market value of a year ago or two years ago, but I’m talking about properties that are being sold far below the current market value. What does that mean for you?

Well, that means that if you walked away from a house that you bought for 200,000, you put $50,000 down, you owe $150,000 <Garbled> value of the house has gone down so that it’s now worth less than the $150,000 loan on the house.

It’s quite possible that you can find a property that’s worth $200,000 again, but you can get it for the price of $100,000 or $75,000. Wow!!! What would that mean?

That would mean that you would negotiate a loan agreement with the bank whereby you buy a piece of property that’s worth $200,000 right now to a bank auction or a bank sale off the bank’s aureoles.  You could buy a property right now that’s worth $200,000.

You can get it for 100,000, $120,000. If you were to put down 10% or 25%, 25% of $100,000, oh my goodness. You put down $25,000. Well, if you put down $25,000, you ask well where would I get the $25,000 from?

Well, that’s the place in which you have to be creative, and I’ll be glad to talk about that in my next post. But for that — for right now, I just want to leave you with the thought, and I want you to chew on the idea of, buying a piece of property that’s worth 200,000, buy it for $100,000. That’s doable.

Buy it for 120. Buy it for 130. That’s doable. You’re buying property from the aureole market that is way below its market value and would be in the property. That’s doable, and then, I know someone’s asking the question, well how do I structure this deed in lieu. 

The deed in lieu simply means you give the deed of your previous house, your old house, the one that’s lost its value, has gone way down below market value, turn that deed over to the bank, and the keys, and you escape being foreclosed upon.

This saves your credit and frees you from being responsible for the mortgage.   The biggest challenge with the deed in lieu is that it must be done properly and carefully to ensure that you are not still on the hook for a deficiency judgement or taxes that can sometimes be assessed against you for any shortfall the bank suffers. 

In order to successfully structure a deed in lieu I encourage you to do let the Loan Negotiator Group work with you directly.  By connecting with the loan negotiator group that I have partnered with you will get a powerful solution and be able to walk away free and clear.  Simply click on the link loan negotiator group, and fill out the entire questionaire completely and thoroughly.  They will contact you within 24 hours to get more information from you and help you get the loan modification that’s necessary in order to do a deed in lieu.

The Foreclosure Doctor Online

What Should I Do if I Receive a Foreclosure Letter From My Lender?

Let me tell you about John and Lana.  They were two people just like you.  They had the American dream.   Then suddenly there was a knock on the door and someone handed them a foreclosure letter.  Now it seems like their world was falling apart.  They definitely needed help with foreclosures.  What should they do?

• Contact the lender
• Call the lender
• Write a hardship letter
• Try to get a refinance
• Consider selling the home

Well they can do any one of those first.  But who really knows what the results will be. 

If you are like John and Lana, stuck in foreclosure and you’re wondering what to do, you may have already tried these methods listed above before. Most people say they have but they end up getting no response.  So why is that? Simple!  The solution you need does not just entail knowing what to do, but knowing how to do what you need to do.

That’s why I suggest you contact the Loan Negotiator Group and let them help you.  I promise you will lose your house if you simply choose to do nothing.  That’s never the right solution.  And having the right solution in mind without the right strategy, understanding and knowledge to implement it may also result in disaster.

You’re probably wondering what steps to take beyond what everyone else is doing.  That’s exactly where the Loan Negotiator Group comes in.  They offer help with foreclosures and would be prepared to work with you to help you get out of foreclosure. They are equipped with the knowledge and expertise to help you handle the situation from the time you receive the foreclosure letter all the way up until you are able to successfully get a loan modification, sell the house or find another solution.

Indeed dealing with this type of a financial problem is difficult and frustrating and many people find themselves wondering what to do once they receive a foreclosure letter.  Where should you start?

Let me share a bit more about John and Lana’s experience.  Simply put, they had it all.  You know what I mean.  They had two kids, a dog, two jobs, and a nice home.  Then times got tight. Gas prices went up, Lana’s hours at work were cut back to part-time, and some unexpected financial problems hit around the way. Before long they missed a few payments and received a foreclosure letter hand delivered at the front door. Like you, they found themselves wondering what their options were.  Thankfully, they found help and found out that there were several great options available to them.

There are many options available to you, even if you have received a foreclosure letter.  Of course there are a few things you need to look for in these options when trying to find a solution after getting a foreclosure letter. And above all you need to know that knowing how to navigate through the waters of the foreclosure procedure is not as simple as it may seem. 

Let me highlight some of the steps you must take to provide you with some helpful knowledge. But know full well that I encourage you to work alongside the Loan Negotiator Group to get your situation resolved.  It will cost you a whole lot less in the long run and save you a world of heart-ache and head-ache.

First ensure the solution you are seeking is a legal one.  Beware of people and companies trying to scam you.  Look out for the option that will work best for your specific situation.  Don’t simply believe everyone and anyone who is out there promising to offer help with foreclosures. Contact Your Lender.

If you get a foreclosure letter hand delivered at the door or in the mail from your lender, the first thing that you should do is to contact your lender.   Of course the Loan Negotiator Group will do this for you on your behalf. After communicating with you and finding out exactly where you are financially and where you want to go, they will create and have a powerful conversation explaining fully your situation.

Sometimes the conversation with the lender is easy.  At times when you speak with a lender they will have some good options for you to consider in lieu of foreclosure so you can avoid losing your home.  Whatever you do don’t just ignore the foreclosure letter from the lender - make sure you contact them right away.

Call Your Lawyer. Another important thing to do when you receive a foreclosure letter from your lender is to call your lawyer.  Your lawyer can help you to understand more about your legal obligations and options.  Once again the Loan Negotiator Group has an entire legal department that can provide you with all the legal counsel that you need.

Also, they may be able to help you declare bankruptcy if this is something that you desire to do, although I do recommend that this be a last resort.Find out your legal options by talking to a lawyer or communicating with the Loan Negotiator Group as soon as possible.

Write a Hardship Letter. Writing a hardship letter is an excellent option when you receive a foreclosure letter in the mail. While many lenders do have some good programs to help you avoid losing your home, usually you’ll find that they do require that you write a hardship letter outlining the financial difficulties you are going through that have caused you to fall behind on your payments. And yes even here in this step the Loan Negotiator Group is prepared to structure and write an effective hardship letter for you.

Try to Get a Refinance. If you can, try to get a refinance if you suddenly receive a foreclosure letter. Now this is where the Loan Negotiator Group will really shine for you.  Having a team like this on your side to speak for you is really powerful.  Many times if they are unable to get a complete refinance they are able to get a complete Loan Modification, a forebearance or a deed-in-lieu.

Consider Selling Your Home. More than likely selling your home is the last thing that you want to do, but in some cases, it can be your last resort. If you can sell it for full price or more than you owe, this is great and a wonderful way to deal with this problem when you receive a foreclosure letter from your lender. However, in a time when the housing market is down, this can be difficult. In this case, you may need to consider a short sale if your lender will agree to it.

These are just a few of the options that are on the table when you receive a foreclosure letter in the mail from your lender if you are working alone and by yourself. However if you were able to have a powerful team of highly trained and experienced business professionals beside you who are highly trained in the area of loan negotiation then suddenly a whole new world of possibilities and options will open up for you.

That is exactly why I suggest for you the Loan Negotiator Group! All you will need to do in order to get started is fill out a short questionnaire with information about yourself, your house and your situation and one of the trained professionals from the Loan Negotiator team will get back in touch with you promptly. When you do you will get a highly experienced and professional case worker who will consult with you and answer all your questions.  Then they will work with you to get you the kind of loan negotiation you are most likely eligible for.  Isn’t that what you really want anyways? A chance to save your home and safegaurd your equity?

The team of mortgage professionals at the Loan Negotiator Group has worked with hundreds of clients and has established relationships with many of the primary lenders and banks in America. They have the experience, knowledge and expertise to offer numerous solutions that can be negotiated on your behalf.  But you need to have a conversation with them first and let them know exactly what you’re looking for. These solutions include anything from a complete loan modification where your payments get lowered or a deed-in-lieu where you walk away from the house and the debt altogether without ruining your credit. Dealing with foreclosure is difficult, but there are options that can help you to avoid losing your home.   The Loan Negotiator Group is prepared to help with foreclosures no matter what your situation may be.  Look into these available options to find a way that you can avoid foreclosure and stay in the home you have worked so hard for.

The Foreclosure Doctor (Online)

Are You Waiting on a Government Bailout From the Foreclosure Procedure?

Jane and John were waiting on that seemingly inevitable and promised bailout from the government before taking action to save their family home from the foreclosure procedure.  Are you feeling stuck in the foreclosure procedure but you’re just sitting around waiting on the government to do something? Well here’s why you can get off the couch, stop waiting and start finding your own bailout today.  You can’t run next door and say like the government is saying, Brother Can You Spare $700 Billion Dollars! So you may be sitting there waiting for someone to offer you help with foreclosures.  The reality in a nutshell is, there’s nobody coming to your rescue! Nobody will lend you the money you need!  You must TAKE ACTION NOW to get a LOAN NEGOTIATION! Here’s a list of why they’re not coming!

• They have their own house troubles to see about
• The world doesn’t really care
• It’s none of their business
• Keeping a roof over your head is your responsibility
• You really don’t want anyone to rescue you if you don’t help yourself
• You have all the power in the world at your disposal
• You simply need to get off the couch, turn off the TV and go to work

No I’m not crying on your parade.  I’m simply telling you the truth and attempting to get that last bit of false hope out of the way.  If you are waiting for someone to come along who offers the best help with foreclosures, I’ve got bad news for you. There are many people on the internet making false promises and offering you a world of false hope.  

But the truth is that there’s nobody coming to help until you seek help yourself. I say it is false hope because it doesn’t offer you the homeowner any actions or steps to take on your behalf.  They promise to save you and all you have to do is just sit back and relax.  What makes you think that would work? Trust me when I tell you it won’t.  In fact it will speed up your homelessness.  Yeah that’s right! The best way to get eaten alive during the foreclosure procedure is to do nothing and wait around for others to help you! You might as well just find your cardboard box now and reserve a bridge to go live under now. Waiting on the powers that be to act on your behalf and put together a plan to save you from foreclosure is plain old downright foolish.  And if that’s your strategy for surviving the foreclosure procedure then you deserve to lose your home. What else do you expect if you refuse to take the right necessary actions yourself? Since when did you get a promise that Uncle Sam’s coming to your rescue?

I have some very very bad news for you if you believe there is a rescue mission heading in your direction! There’s nobody coming to your rescue! That’s right nobody’s coming to save you from the financial mess you’re in! Nobody’s coming to help you! 

That is until you first HELP YOURSELF! You see I’m not here to make you feel good about your financial situation or feel good about yourself.  I’m here to tell you the truth! You can help yourself by becoming knowledgeable about the foreclosure procedure and taking powerful action. Don’t wait around for government or anybody else who makes big promises.  Don’t wait for the heavens to open up and help to come pouring out of the sky. And don’t wait for the bank or mortgage lender to simply forget you are behind on your payments or lose your entire file and hope that the whole problem goes away. STOP WAITING!!!! If you wait you just might end up homeless and on the street pushing a shopping cart. 

But if you become knowledgeable about the foreclosure procedure today and take action now then you’re moving in the right direction. So let’s see for a moment, what will happen if you first take steps to help yourself? You will find that all forces available suddenly start moving in your direction to help you. Furthermore you will discover that your situation is probably not as bad as you think it is.  But you have to get off the couch, get out of bed, or wherever you are hiding, turn off the TV and go to work. It will be great if the government does come through with a bail-out for troubled homeowners but it will be greater if you yourself commit to driving your own economic future.

The Foreclosure Doctor Online has partnered with the Loan Negotiator Group to offer those who TAKE ACTION NOW the best possible knowledge, advice and negotiation to stop the foreclosure procedure and get your life back on track.  Really this is the kind of help with foreclosures that you need. Simply by clicking on the link that says Loan Negotiator Group at the top right-hand corner of this blog post and filling out the short form of information required you will begin the process right now.

The Loan Negotiator Group consists of a team of highly trained experts in the field of mortgages and foreclosure.  They have a relationship with most of the lenders and banks and furthermore they know how to negotiate and what to negotiate to get you what you really need to save your family home.

Not everybody is going to need the same thing from the Loan Negotiator Group.  That is simply because not everybody is faced with the same situation. But no matter what the circumstances are that you’re facing in the foreclosure procedure the Loan Negotiator Group can help you by providing the right counsel, helping you make the right decisions, and wherever possible negotiating your loan with your bank or mortgage broker. Instead of waiting on a Government bailout or any other promise from any other group why not start the process with the Loan Negotiator Group today.

The Foreclosure Doctor (Online)

Have I Entered the Foreclosure Process Now that I’ve Received a Foreclosure Letter?

Yes you have!   Let me tell you about Danny and Sofia.  They had received a foreclosure letter but neither of them were lawyers and they had no knowledge of either the banking or mortgage industry.

Now needless to say, they had never been in this situation before.  With the recent rise in foreclosures, thousands of people across America are asking this question…

What do I do now? 

I’ve received a foreclosure letter from the bank and it sounds like a bunch of legal mumble jumble.  What am I supposed to do? 

Well, it is a great question and I am glad you are asking it.  I am going to give you in a nutshell 5 powerful steps you need to take if you receive a forclosure letter from your bank or lender.

The intention of these 5 steps is to help you get as much time as possible and take advantage of any options available so you save your home.

1) You will need to call the bank or lawyer and find out exactly how much money they want in order to stop the foreclosure and how much time you have left before it is just too late.

2) Secure a coach – somebody who has knowledge about the foreclosure procedure to help you navigate these unchartered waters. I am available to be your coach. Simply by entering in your number on this site, you can speak to me directly and I will offer you a free consultation.

3) Make sure you have a good family budget and have identified financial money leaks and areas where you can save

4) Write a hardship letter that details the situation that got you into foreclosure and caused you to be behind on your payments. Also tell what plan or strategy you have for getting caught up on your arrears

5) This should really be first … if you are a believer in God, then pray. Prayer is a powerful action that can actually align your mind in the direction that God can work on your behalf.

Now let me just give you a brief overview of exactly how to do all these five steps.

1) When you call the bank, you have to be direct and forthright. You can’t speak in maybe’s and should be’s and wishes. You have to call with a plan and a detailed question and know what you want to propose to the bank.

In order to accomplish this, I suggest you research and find the right department to speak to. Many people call their bank and get no response, get a run-a-round and get passed from department to department.

If you are in the foreclosure process, and you have received a foreclosure letter, then the person to talk to is not the one answering the phone. Ask to speak directly to the Loss Mitigation Department or sometimes it is called the Debt Workout Dept.

You have to have your mortgage number ready. Refer to your house by the mortgage number. Ask to speak to the individual who is handling your file. Ask the bank to fax you a copy of the arrears statement. That is a document that tells you clearly how many months and how many dollars you are behind. It includes interest and fees.

I cannot stress this any more without sounding overbearing but I want you to know how important this is. Many people call the bank and never get the bank to send them anything.

By getting the bank to send you a copy of the arrears statement, you now have a document that you can work with. You have in writing the amount, timings, and specific calendar dates.

2) Getting a Coach is crucial to navigating any foreclosure process and to finding a solution to stopping it. 

When I say it is crucial, I am not meaning that it is “maybe I need a coach” or “it would be a good idea to get a coach.” I am saying that the foreclosure process is such an intense and taxing process, there are so many innuendoes and diversions and legal issues that must be dealt with, that for you to attempt to go through the foreclosure process by yourself would be equivalent to your saying “OK I want to lose my house.”

Now don’t get me wrong – you may think you have enough knowledge and understanding of the foreclosure process to go through this yourself.  Fine let me assure you the majority of the people who end up losing their homes never sought out and found a qualified and experienced coach to help them navigate through the foreclosure process.

No doubt you are wondering what should I look for in a coach. I suggest you find someone who

Understands you and your situation.
Cares enough to really help and is not going to just take your money.
Understands the foreclosure process and knows how to talk to lenders or coach you into talking to lenders.
Will tell you the truth.

I offer all my clients tremendous insight into the foreclosure process along with a wealth of experience that they could not get elsewhere. How am I able to do that? I have been working for people who are in foreclosure, helping them stop the forclosure process for over 5 years now.

Furthermore, I work with an organization that understands the needs of people who are in foreclosure. I am poised and prepared to help many who are seeking assistance to stopping foreclosure and start building wealth.

3) Now let me share something about the Family Budget. We all go through difficult financial times. If you are in foreclosure, I don’t have to ask – I know you are struggling with a balancing act.

But take heart, you can use the foreclosure process as a springboard to a stronger financial future.  If you received a foreclosure letter, this means that your personal finances have reached a breaking point.

Now, certainly, we can have a great conversation about whose fault it is - the economy is bad, the bank or lender gave you a bad mortgage, the realtor or the broker didn’t do their job. We can blame it on high taxes, President Bush and the Republican government or the Democratic Congress.

However, the only person you have control over is you. Ask yourself, “Am I blaming others when I should be looking at myself?” The best place to start is your very own family budget. How much money are you making? What are you spending it on? What are the bills you have to pay? What are the things you have to buy? How much are you saving? What can you do to save more? What can you do to make more? What can you do to reduce your bills?

There is a lot you can do. Be wiling to do what you have to do. You know there is a lot you can do to solve this problem. Yes, there may have been a lot you should have done to prevent yourself from getting into this situation but my scolding you or you scolding yourself doesn’t help.

What you need to do is begin with the family budget.  Get out a piece of paper right now and write down your monthly expenses, sources of incomes.

Talk with your family – include everyone involved. Make this a time to talk truthfully through about your finances and goals. It won’t take long to get on track. It only takes willingness, determination, and discipline. Make this a team effort.

Don’t’ wait another day, hour or minute. Begin right now! Let this foreclosure letter that you have received and the foreclosure process be a catalyst that causes you to take action and start moving in the right direction.

4) If you want to write a hardship letter to your financial institution, this is certainly a good place to start negotiations with your lender for a loan modification.

This is only possible and meaningful if you are in a situation where a loan modification will help you. If you have no job and no income, forget writing a hardship letter unless you are asking for a few months to find a job but even that approach doesn’t put you in a very powerful position.

If you broke you leg and have been off work for a few weeks but you’re expecting to go back to work in another week or so and you are quite sure you job is secure, then a hardship letter might be the way to go.

Include 3 fundamentals. State what your legitimate hardship.  Mind you telling the bank that we took a trip to Hawaii instead of making a payment to them is not going to cut it.  You have to demonstrate a hardship such as a death in the family, illness, loss of work – show that something was incidental and unforeseen in order for your hardship letter to have meaning and value.

Your hardship letter must be addressed to the right contact person at the bank. Don’t just send it to the bank and expect that they will get it to the right person – that’s a waste of time. In order to find the right person at the bank, you might have to do some research. This is an area where a coach can offer great help. Coaches know the way to contact the right person in the right department.

The hardship letter must include a plan of action – you are making a proposal to the bank. You acknowledge you are behind, you have a legitimate hardship, and now you want to put forward your plan or strategy that you are asking them to accept.

The proposal should indicate that you are able to catch up on your arrears within 3 to 6 months and not more than one year.

5) Now let me say something about prayer. I don’t know about your convictions when it comes to spirituality but I do believe in prayer because I have seen it work.  Many others have also seen and experienced tremendous positive.  Just check out this article in Time Magazine on Prayer

I am not here to push my spiritual beliefs on anybody. If you are not interested in prayer or you do not have a level of spirituality, then believe me you don’t have to read the rest of this. I have given you enough information.

I do say that for those who believe in prayer, that prayer is a powerful solution that helps make all the other actions and steps and plans you do more effective. What prayer does is tune your mind to the frequency of God or, if you wish, the higher power that is in control of all things.

Millions have gone through hardships and can testify that it was not until they prayed with earnestness, conviction and faith that they saw the tables turn in their behalf.

If you are including prayer as part of your solution to help you make it through the foreclosure process, let me suggest a simple formula …

• First, begin your payer with statements of adoration and gratitude to a mighty God.
• Second, continue with confession – if there is anything that is blocking or hindering your spiritual connection, engage in a conversation of confession.
• Third, express thanks – be thankful – not only for what God has already done in your life and for what you do have, but also in advance that God is going to help you solve your financial problems and find a solution to the foreclosure process.
• Fourth, ask frankly for what you want – make it specific. Ask in a positive context. Ask for a solution to help you solve the problem or for wisdom to find the right person at the bank or whatever step you are at. Be specific. And watch for answers – record them if you want.

I have given you a plan of action and some practical strategies. Take it and implement it and you will begin to see results.  Click on the link that says Loan Negotiator Group at the top right of this bog or enter in your phone number and you will be placed in immediate contact with me.

I am more than happy to give you a free consultation. Together we can solve the problem of this financial hardship and survive the foreclosure process.  

The Foreclosure Doctor (Online)

Are You Pulling Your Hair Out Trying to Write a Hardship Letter?

Well John and Cathy had been on my site here reading much of what I’ve been talking about when it comes to How to write a hardship letter. I easily pointed them to some websites and also showed them how not to write a hardship letter.  But they wanted some more information about what an effective hardship letter would look like. 

So I decided to write one for them and for anyone else who is seeking to do this the correct way.

Date (Current Date) Name: (Your Name)

Address: (Your Address) Mortgage Company: (Mortgage. Company.)

Loan Number: (your Loan Number)

I/We, (Your Name), are requesting that you review my financial situation to see if I/We qualify for any workout option.

I/We are having problems making my monthly payments because of financial difficulties created by (circle what applies):

Unemployment

Reduced Income

Divorce

Separation

Medical Bills

Too Much Debt

Death of my Spouse

Death of a family member

Payment Increase

Business Failure

Job Relocation

Illness

Damage to Property

Military Service

Incarceration

Other (Please Specify)

This difficulty or hardship happened on or about this date ??????.   I/We believe that my/our hardship is (circle one) Temporary / Permanent This is a brief account of the situation with some details about how it transpired (explain the situation you encountered… and tell them you feel you can now afford your payments again) I/We, (your name), declare the contents of this letter provided above to be true and accurate to the best of my/our knowledge and understanding.

Borrower’s Signature Date Co-Borrower’s Signature Date

For more information on how to write a hardship letter or what to do after writing a hardship letter please enter your information in the opt-in box on the top right hand side of this blog or click on the Loan Negotiator Group and enter your information there.  I’ll be in touch with you that way soon.

The Foreclosure Doctor (Online)

How Does the Foreclosure Process Impact the Family?

How does the Foreclosure Process Impact the Family? Great question! And there must be only one reason why you are asking. Tell me the truth – you got a hand-delivered letter from the bank, right? You’re in foreclosure. The bank is saying they intend to sell your house. 

What a terrible tragedy! You’re wondering “How in the world can they do that? Can they really sell my house without my permission?” This was Sam’s story.  He lived in a beautiful suburban 3–bedroom house with a 2-car garage and a nice front yard. He and his family had lived there for 15 years. 

But now because of some unforeseen circumstances, they found themselves facing foreclosure. Now that was a dreadful word in his mind.  He wasn’t even sure what foreclosure meant.  He just knew it sounded bad.  He knew he didn’t know much about the foreclosure process and wasn’t sure he wanted to learn.

But there was one thing that concerned him.  It was, “Do I or do not own this house?”  Yeah, I owed money on the house but that is far less than what the house is worth, he thought to himself.  Later that evening he talked it over with his wife.  She didn’t have much more knowledge about the foreclosure process either. 

All she knew was that the house was titled in their name. She was aware that they were behind on their payments but she was thinking the same way Sam was thinking.  Carol thought for sure the foreclosure process was only for those who had no equity at all in their house.  And as far as she could remember, they had at least $200,000 equity on a house that was worth $450,000.

So she was shocked to get this letter too. What both Sam and Carol didn’t realize is that when you have title to a house, that gives you ownership and the right to do what you want on the property but that does not mean that the bank does not have an interest in the house.

All it means is that as long as you continue to make your payments on time, the bank will let you live there. Ownership means you get to direct what happens on the house - paint, renovations, change the colour but you can’t do anything that will in the long term jeopardize the bank’s interest in the property. 

For instance, you can’t pick the house up and move it away.  And then tell the bank I moved the house.  That is not going to go over very well. So Sam and Carol had a rude awakening to the realities of the foreclosure process. They learned that this foreclosure process could be quite impacting on their family.  They decided to get help getting out of foreclosure.

First, by not being aware and not having knowledge how the foreclosure process worked in their state, they felt fear, uncertainty and a sense of helplessness. And then of course, their belief that as long as they owned the house or had title to the property they were safe from the process was false.

As I talked with Sam and Carol, I will never forget the thoughts that crossed my mind. How many other well-meaning families think there is nothing to worry about as long as they have title to the house?

Are there really that many people out there who are thinking the bank is going to leave me alone and I am not going to be affected by the myriads of foreclosures going on because I own my house. I alerted Sam and Carol to the truth. That anybody could fall into the foreclosure process if you fail to satisfy the demands of your mortgage or your loan agreement.

· So the first thing that they needed to know was the foreclosure process in their state. How much time does a bank or lender wait before beginning the foreclosure process and how much time do they have after the foreclosure process begins to save their house?

· The second thing they needed to know was what possible steps could they take to stop the foreclosure process and how do they go about taking those steps. This was really a difficult and challenging conversation for them to have. It forced them start talking about some issues that they had not talked about for the longest while. They had to start talking about money, work, budget, employment, future goals, and savings.

They had to confront certain things about themselves, their family, and their lives. But most of all they realized what they did not want to be involved in the foreclosure process. And they had the power to stop the foreclosure process but they had to start taking action.

In order for foreclosure to stop, they knew what they must do. They had to make changes and now. The alternative to making changes in their lives would be to suffer the indignities of foreclosure. What exactly would that mean? I told them clearly – they needed to

· change their spending,

· plan a budget - a map for their necessities, obligations and wants,

· start saving,

· create a plan to pay off arrears and

· maintain on-time payments on the house loan,

If they didn’t do this the foreclosure process would end up with them suffering the loss of their home. Here’s what that would look like. Most likely, there would be a public notice of foreclosure. The negative impact of shame and embarrassment would be felt.

The neighbours, friends and family would read that the house was being put up for public auction with a sign on the front lawn saying Bank Sale. Their credit would be severely blemished. Their dignity and pride would suffer as they would have to explain to their children that they were moving away from friends and schoolmates.

So the impact of the foreclosure process on the family home is severe and great. When the bank sells your house, most times, they sell it far below market value. In some states, they give you none of your equity which you have worked hard to built up. In other states, you will get just a little piece.

But the saddest story is that many are in the foreclosure process who do not have to be there. There are so many options available and so many solutions possible for so many.

As the Foreclosure Doctor (Online), I am here to tell you that Sam and Carol ended up saving their home. They were willing to change, adapt and take action. They did what was necessary to stop the foreclosure process, to get help getting out of foreclosure, and to avert its impact on their lives and their family.

The same actions they took are available to you today. I am prepared with a wealth of experience, knowledge and understanding to help you as you go through the foreclosure process. I am glad to answer your questions and provide guidance and direction so that you too can avoid the impact of foreclosure on your family home.

Decide today to get help getting out of foreclosure. Don’t think your’s is a lost cause. You do not have to think that there is no hope. For a limited time, you can contact the Foreclosure Doctor (Online) today. I can do the following for you … have a one-on-one interview and consultation to find out where you have been, where you are now, and where you intend to go.

Together we will structure a plan and a strategy for stopping your foreclosure. I will then personally refer your case to the Loan Negotiator Group whom I have partnered with and they will get you a loan modification should that be the pathway and direction we choose. Don’t wait until it is too late and you begin feeling the impact of the foreclosure impact on your family. Contact me today.

The Foreclosure Doctor (Online)

What Should I Do After I Write a Hardship Letter to the Bank to Stop the Foreclosure Process?

Let me tell you about Danny. His house was in foreclosure. And all he did was write a

hardship letter. He had high hopes that writing a hardship letter would be sufficient.

Boy was he wrong!

In that letter he told the banker all about his troubles and asked for a loan negotiation

and some time to get back on his feet.

The good news is Danny got what he wanted. A loan negotiation and more time. But what did he

do with that?  What do you think Danny did with that extra time?  Do you think he followed

the requirements necessary to complete the loan negotiation like fax in proof of his current

income, and go down to the bank and sign more papers?   NOPE!

Danny did absolutely nothing. He didn’t give the banker copies of his monthly pay stubs. He

didn’t fax in a copy of last year’s income tax. And he didn’t go down to the bank to sign

any paper work.

Well you ask, what did Danny do? NOTHING! Absolutely NOTHING!

That is until one day a sign showed up on his front lawn. Then he came to me. And he sobbed

out a sorry and weak story.

He said well I was going to go down to the bank and sign the paperwork. And I was going to

fax in my income tax and I was going to send in copies of my pay-stub.

Well what do you think I should tell him?  Huh!  Well, I told him what I tell everyone.  I

told him the truth about where these words of hesitation lead you when facing foreclosure.

That’s right!!! Hesitation and inaction leads to a great big sign on the lawn that says

something like, “Bank Sale” or “REO Bank Auction”

But what was so sad for Danny is that he learned the hard way that Writing a Hardship Letter

to the Bank is just not enough.

So what else is needed besides merely writing a hardship letter?  

Good question! I’m so glad you asked. What else is needed besides just writing a hardship

letter? Well let me ask you. What else do you really want?  Like really tell me the truth

here!  What are you expecting from your lender by writing a Hardship Letter?

There is a world of action and little delicate steps that create the gigantic results.  You

must engage in this world of action and take those delicate little steps after you write

that letter to the bank to really stop the foreclosure process. 

And just like in anything else in life, “going to do it” and “planning to do it” and

“thinking about doing it” just doesn’t cut it.

If you really want success stopping your foreclosure procedure then writing a hardship

letter is a great place to start. But it is not a great place to finish.

You have to follow all the instructions that take you far beyond just writing a hardship

letter. And you have to be willing to think fast and act fast, and change fast. That’s just

the bottom line.

AGGRESSIVE ACTION and PERSISTENT DETERMINATION are a must!

Well what action do I think you should take first?  Well once again I’m so glad you asked. 

Let me make it really really easy for you. 

Call me! 

That’s right call the Foreclosure Doctor (Online) by entering in your phone number and

information in the top right hand corner of this blog. When you call I’ll go through the

following steps with you on the phone.

First I will take you through a one on one consultation and gather some information about

your situation.
Second I will lead you through a clear understanding of the foreclosure process in your

state or region.
Third I will guide you through the steps to determine how to best go about saving your home.
Fourth I will refer you to any additional service or program necessary to help you negotiate

with your bank or lender
Fifth I will work with you to help you transition from being in foreclosure to building

wealth.
So what else did you discover from reading this post today? Well let me sum it up for you.

Choosing to do nothing at any time or during any stage of the foreclosure process will most

likely lead to disaster. Taking action today and making sure that it is focused and directed

action leads to the results you want.

The Foreclosure Doctor (Online)

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