Getting Out of Foreclosure is So Easy When You know How to Do More than Merely Write a Hardship Letter. Do You Know That?
December 9, 2008 by Admin
Filed under Economic Crisis, Hardship Letters
So, we’re now rounding the corner towards this year’s finished line.
I have just talked to so many people out there who are literally scrambling for a solution to getting out of foreclosure. They are indeed very much stuck.
Let me tell you about Vicky and Sergio.
They were real smart and resourceful and I felt impressed by the amount of research they did.
Sergio was a Med Student and Vicky worked from home selling Mary Kay.
We had a simple but clarifying conversation. And they quickly knew exactly what actions they needed to take within the first few minutes of the phone call.
They were behind on their payments and they were trying to find out how to make the impending foreclosure go away.
I shared clearly that the only thing that makes foreclosures go away is “Money.”
They said plainly and in one voice spoken in unison, “But can’t we just write a hardship letter to the bank?”
Can You Relate to My Friend’s Foreclosure Story?
November 11, 2008 by Admin
Filed under Bankruptcy, Credit, Economic Crisis, Family, Foreclosure Procedure, Hardship Letters, Loan Modification, Politics and Economy, Sell Your House, Stopping Foreclosure
Are You Aware There is an Answer to Foreclosure? Do you have good friends that you touch base with a couple times per year? Due to families, busy lifestyles and distance you just don’t connect as often as you would like. Aren’t those the calls that really make your day? Reconnecting with old friends. I had the pleasure to speak with Jim who has been a dear friend for over 20 years now. Although, this conversation was an eye opener for me. Jim lost his job a few years ago and this was right when certain areas had started going into what looks to be a recession. His wife, Jackie also worked at the same employer and was let go during the wave of lay-offs too. Here they were both unemployed from their jobs. Now, where they worked was an excellent company as far as pay and benefits. NO MORE.
How Long Do I Have to Stop Foreclosure?
How do you go about stopping foreclosure? This is a great question that all who are facing foreclosure really do need to know the answer to. It is highly possible that many don’t have long at all. Dan and his wife Dana didn’t know how long before it would be too late. Unfortunately they put off taking action until it was too late. Don’t let this happen to you.
If you’ve received a notice that the bank or lender is intending to foreclose on you then you may not have much time. Unfortunately many people wait too long to take necessary action in order to stop foreclosure proceedings. If you’re facing foreclosure I suggest you do the following three things immediately.
Do You Have An Idea to Build Wealth?
No matter what you do when facing tough economic times, if you are really going to thrive and start winning financially, there will come a moment when you say “I don’t want to live like this anymore.” I must find a way to create more money. And so the question arises, “how do I create real wealth to stop foreclosure and really create the life I want?”
Molly had just experienced a year of bad luck. She had lost her husband in a terrible accident. She was coping with the loss but her income was not quite enough to pay all the household bills. Before she knew it she was facing foreclosure. How could she possibly make it through this? She felt so all alone!
I offered her a basic skeleton of a plan:
- Get a unique idea for a small business
- Become passionate and energized about the idea
- Create a plan for creating the business associated with the idea
So the first thing I encouraged her to do was realize that she was not alone. Often times we may feel a certain way which is really not a reflection of reality. But then allow those feelings to control our entire lives and run us into the ground.
Molly discovered that this was not a powerful way of being. She longed for the courage to take control of her feelings and emotions and actually create the type of life she knew she could have.
I told her about my current package which I still offer for free called the Stop Foreclosure and Start Building Wealth. Simply by signing up on this site she will receive a copy of the powerful book “As A Man Thinketh.” by James Allen.
There are many who value this popular and powerful book. You can see references to it on numerous other blogs like the Dough Roller. This little book “As a Man Thinketh” has become popular because it is so incredibly powerful.
I still have it available for anybody who desires to have it. It contains powerful ideas for taking control of one’s thoughts and emotions.
Well there was one good thing for Molly. She had a couple of innovative business ideas that she had put together over the years. She knew they would allow her to make money fast.
And furthermore they were business areas that she felt really passionate about. These were nutritional based business strategies and she was really excited about being involved in that field. But she had one problem. Can you guess what that might?
She had a startup cost that she had no money. How do you get the money to start a business you know will make money if the bank won’t lend it to you? Well not even that line of reasoning worked with the banker. She had to find a better way.
Then she found out about the Ultimate Guide to Raising Capital. She needed capital and this entire program talked about ways she could raise the capital she needed to create her dream business.
She didn’t have a wealthy uncle or father to fund her business idea. So she concluded the best thing to do was to discover how to fund it herself. So though this was a big step for her she decided to take it.
That all happened six months ago. Today she is well on her way. She found out that she can educate herself on any topic as long as she was willing to work on the area of information she needed.
And what this program actually provided for her was a powerful coaching opportunity that challenged her to do things she had never done before.
Over time she discovered that she had discovered that pathway to creating the what she really wanted. She had an idea that she felt powerful and passionate about. And she had a plan to implement that idea.
Most people have ideas cross their minds every day that would make them a millionaire. The problem is they fail to mix passion and energy with those ideas. And so these ideas pass off into the distance and dissolve with their dreams.
But Molly learned a better way. You can too. You can take an idea that is crossing your mind right now. Any idea that you’ve had in the past will work. You can go ahead and mix passion and energy with it. Then create a plan for putting that idea to work.
You’ll be amazed to discover that you have taken the first steps towards something big and powerful. It can literally change your life. Go ahead and download the free package called Stop Foreclosure and Start Building Wealth today.
The Foreclosure Doctor (Online)
Want the Hidden Truth about Debt Settlement Programs?
Yesterday I wrote a post on debt reduction. Today I wish to continue that conversation and share a bit more about how this process can help you.
According to what most of my clients are saying, I can tell the real issue with so many who are facing foreclosure is that they just don’t have enough money to pay their bills. You do want to start making more money per month as well as find legitimate ways of spending less? Isn’t that the real goal?
Are you really committed to that? Well then know this. I am committed to helping you achieve that exact goal. And no matter what your situation may be I’m confident that you can create for yourself the kind of financial life you are seeking.
I strongly encourage you to subscribe to this blog. It is quickly becoming a powerful source where you can find answers for your financial challenges.
You can join a community of people who are working and striving together to stop their foreclosure and start building wealth. I have many really great resources on here that are available either for free or for a small fee.
Some of them will really transform your life. I am constantly updating this site and either gathering or creating more and more resources products that I’m sure you will find very useful. Don’t miss the opportunity to take advantage of our current free e-book and foreclosure report.
I will send it to you completely free when you sign up in the opt-in box at the top right hand corner of the blog at Foreclosure Doctor Online Okay now let’s talk briefly about the hidden truth about debt settlement programs.
The first thing you need to know is that this option is really not for everybody. If you are really concerned about maintaining a healthy credit score in the present moment then I strongly encourage you to consider other options.
Many have experienced a drop in the credit score simply by engaging in one of these debt settlement programs. And new creditors will see that you have enrolled in a debt settlement program and this for some potential creditors will be a red flag that says “Stay Away.”
So what constitutes a debt settlement? Well to put it simply debt settlement is a procedure designed to get rid of an outstanding debt for less than what you actually owe to the creditor.
In other words you promise the creditor that you will pay a lump sum of money that is around 40% to 60% of the actual debt if they agree to close the account and the file and not seek collection on the balance. For many this option poses many ethical questions or concerns.
The question is often raised, “Why should I not pay the full amount of my debt? Why should I even desire or seek for a way to escape paying all that I owe? Well the answer to this question is very personal. So I’m not going to stand in judgment over anyone who has used or is contemplating the use of a debt settlement program.
The debt settlement plan will begin with you stopping all monthly installments to your creditor and saving a minimum of 50% of the total debt owed. At that point you would want to start negotiations with the creditor to ask for a debt settlement agreement.
But what assurance do I have that creditors will accept the reduced payment? Accepting a debt settlement plan proposed by you is totally up to the discretion of the lender.
However there are certain things that you must understand in order to get the best results from any proposal you put forth.
The whole philosophy behind what makes this strategy work is that creditors usually do all they can to recover default or charged off loans in some way or other.
This costs money. If you offer a debt settlement program then the lender does not have to spend that extra cash in collecting that which you owe.
Most times they also have greater confidence that you are trying to pay them and so they won’t sell your account at a lower price to a collection agency. Therefore a reduced payment is usually more than what they would get if they were spending money on debt collection on your account.
Can I start a debt settlement program myself and if so how? Many have been asking this question and so this is a really good sign that most who are in debt are well intentioned and good. They do deserve another chance and paying off debts is a great way of starting that.
If you feel at ease talking to your creditors you certainly may have that conversation with them yourself. However if you do not feel comfortable then you might want to explore the services of a debt settlement company.
They will represent you completely with your creditors and present your plan. Now just because I’m saying that you can negotiate a debt settlement yourself doesn’t mean that you will find it easy to do so. Most creditors know that they can create more pressure on the consumer to pay a debt in full if they do not enter into conversation about debt reduction with the.
You do understand why they would want to keep such negotiations about a debt settlement program between you and a settlement company. Most debt settlement companies have much experience and know how to approach and deal with collection agencies.
- What are the three main benefits of Debt Settlement?
Number one, you get more time to pay. Most debt settlement plans are created for a extended period of time. Often times it is easier to get a creditor to delete a negative listing after you’ve payed down a percentage of the debt over time and met the demands of a debt settlement plan.
Number two, you can squelch rude and harassing creditor calls. By successfully negotiating a debt settlement plan either on your own or through a debt settlement company you can really do much to get creditors off your back.
And number three, you can pay less. That’s the whole entire purpose of doing a debt settlement plan. You actually would end up paying less on the delinquent account. Most times it would be 40%–60% of what you actually owe.
Debt Settlement Programs are definitely something you should consider. I encourage you to study and research whether or not engaging in a Debt Settlement Program is something that will work for you. One that I was reading about earlier today can be found at a site called Smart Debt. Check it out and see how it can benefit you.
All the best!
The Foreclosure Doctor (Online)
