Fight Foreclosure!. How to Cope with a Mortgage You Can't Pay, Negotiate with Your Bank, and Save Your Home

  • ID: 2325532
  • Book
  • 240 Pages
  • John Wiley and Sons Ltd
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FIGHT BACK!

With a Take–Charge Strategy for At–Risk Homeowners

Millions of homeowners are at risk of losing their homes. Are you one of them? If so, you need this practical, step–by–step guide to help you take action before it′s too late.

In Fight Foreclosure!, David Petrovich offers honest advice on all of your options, weighs the pros and cons of each, and shares smart, practical strategies for lowering your payments and keeping your home. He points out the too–good–to–be–true foreclosure rescue offers you should avoid, and offers real alternatives that work now!

Petrovich is a mortgage banking insider who understands the loan servicing industry inside and out. And he understands the pressure you′re under. Don′t worry! You′re not alone. Inside, you′ll find the calm, professional advice you need to manage your financial crisis, including topics such as:

  • The foreclosure time–clock why acting early is critical

  • Handling collection calls

  • Cutting expenses and rebuilding your budget

  • Negotiating with your lender

  • Utilizing all your legal defenses

  • Using bankruptcy to save your home

  • Selling your home to avoid foreclosure while saving your credit

  • Finding legitimate help and avoiding rescue scams

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Acknowledgments.

Introduction. You Are Not Alone! America in Foreclosure.

Chapter 1: Don't Ignore the Warning Signs: How to Get Past Denial, Deal with the Stress and Embarrassment, and Take Action to Save Your Home and Family.

Chapter 2: The Foreclosure Time Clock: Why it's Much Better to Act Sooner than Later.

Chapter 3: How to Handle Collection Calls: Why You Should Talk to Your Lender First, What to Say, and What Questions to Ask.

Chapter 4: Too Much Money at the End of the Month: How to Prioritize Your Spending and Where to Cut Expenses.

Chapter 5: Negotiate with your lender to win/win: Walk Away, Sell, or Sacrifice to Save.

Chapter 6: Use the Law to Fight Foreclosure: Legal Defenses.

Chapter 7: Using Bankruptcy to Save Your Home.

Chapter 8: How to Sell to Avoid Foreclosure and Save Your Credit Even if You Owe More Than Your Home is Worth.

Chapter 9: How to Find Legitimate Help and Avoid Foreclosure Rescue Scams.

Chapter 10: Options for Real Estate Investors Facing Foreclosure.

Chapter 11: Life After Foreclosure: What I Learned When it Happened to Me.

Appendix A. Questions and Answers from HUD.

Appendix B. Mortgage Workout Notebook.

Appendix C. Mortgage Forgiveness Debt Relief Act of 2007.

Appendix D. News Release from <a href="[external URL]

Appendix E. Glossary.

Appendix F. State Foreclosure Procedures Chart.

About the Author.

Index.
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David M. Petrovich is Executive Director of the Society for the Preservation of Continued Homeownership, a nonprofit 501(c)(3) Corporation that provides preforeclosure counseling to financially troubled homeowners. He has investigated allegations of predatory lending, mortgage loan servicing error, fraud, and untoward realty transactions for the Mortgage Bankers Association of America, and his career in real estate spans more than twenty years.
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