Bold new plan for the government to slow down the foreclosure crisis tries to succeed where past efforts have failed badly and inimitably. Still just as before, the odds are long, and most Homeowners won’t qualify in Colorado or other US States to Stop Foreclosure dead in it’s tracks.
Not to worry as there are some local companies that have been successful at avoiding these foreclosures from happening. Our company is well versed in the foreclosure process and our main goals to assist you KEEP or save your home from foreclosure!
In theory, the effort reveiled last month would help millions of homeowners facing foreclosure who owe more on their homes mortgage then there homes are worth in today’s market.
Investors and bankers are in control of which homeowners they choice to help. With the long processing times for Loan modifications and with the clock still ticking on the foreclosure process, reveals there still is not enough time to stop the foreclosure. 75% of Loan modifications fail and homeowners go to foreclosure. Most Loan mods do not stop the foreclosure as they are being processed which means everyday the homeowner is getting closer to foreclosure.
So what options do homeowners to stop foreclosure other than waiting on the selective banks to determining which people they elect to help?
Short sale and selling the house seems to be the only other options out there now to help the homeowner facing foreclosure with the strick timeliness of the foreclosure process. With the small local companies being the only ones to help or able to help the hardship of these homeowners they are facing.
This governments rescue plan poses risks just like past bank bailouts. The long gone recovery in the housing market most likely only worsen in the coming months with many loans to reset on adjustable loans. The plan doesn’t seem it will be able to slow the surge of foreclosures if home prices continue to take a nose dive.
The Obama administration says the plan will help stabilize the real estate market by keeping many homeowners out of foreclosure. If it succeeds, the plan would hopefully slow the overall damage to the unstable economy. Which is unlikely like past attempts. Especially with the lack of working solutions and false preforming programs out their.
This new system is designed to help two groups:
– Homeowners who owe more on their loans than their houses are worth. More than 11 million homeowners fall into this category, according to Moody’s Analytics. About 10 million of them owe at least 25 percent more than their house’s current value. Even more in areas like Florida, California, Phoenix and Las Vegas.
Their mortgage companies can cut the total amount they owe, or they can refinance into loans backed by the Federal Housing Administration. But will they perform or just put the money back in the CEO and upper managements pockets is to be determined.
Do you Feel like the government and banks have let you down? Do you feel they can do more to help you out instead of giving money to the banks were you the homeowner doesn’t see the money or help.
There is hope as some local companies have spearheaded the cause in helping homeowners avoid foreclosure. With no cost programs for homeowners that need help and can not afford it. Some of these are registered with Better Business Bureau and are reliable companies that help in situations like this.
They can Help at no cost to you and they can even find out what your house is Worth in the marketplace today.
They deal with your Banks when they are calling and harassing you for payments. As we all know the banks don’t care about you or you’re Problems you are going through. So it’s easier just to let the exerts in this field deal with the banks about your hardship and explain your problems and situation you are facing.
Everyone can understand in this economy it’s hard to make house payments these days with lack of jobs. Did you know 1 out of 10 people are in the same situation as you are? Maybe one day the government will actually help but until then there are local companies to help with foreclosure assistance. I hear they can even sell your house with it being over financed. We have seen were they have gotten all liens, taxes and bills paid off were the homeowner can finally walk away and get on with their life. I know you are going through hard times and Bills are piling up. I’ve been there too. Then on top of it Credit cards raise the Interest rates and Late fees and make it even harder.
The main thing to do is not wait for false promises, false hopes and do something about it before its to late. We have seen to many people wait till the last moment then it be to late and get thrown out of their house with a foreclosure on their record to boot. Again the theme to this story is to Get Help while there is still time. Don’t abandon your house as this only makes things worse and get the fresh start you deserve in life. Get Help today.
We look forward to assisting you in anyway we can!