Article 

Say No To Foreclosure

Homeowners now have the power to withstand the threat of losing their homes from foreclosure. According to 20/20 foreclosures are at a 30 year high across the nation.

The reason is that homeowners don't know what their options are. Too many homeowners are being victims to losing their homes because no one really knows how to help them. When they seek credit counseling or see a Hud representative, they generally don't get the help they need and are still prone to foreclosure.

Most homeowners do not want to sell their homes but they are force to in order to prevent a foreclosure. Most file Chapter 13 but don't realize that it's just a band aid and not the source of their problem. The Chapter 13 adds another expense on top of the mortgage even thought their creditors are place in Chapter 13 and their bills are being reduces.

Most homeowners will be right back in a pre-foreclosure within a few months because of mismanagement of household expenses and not enough income.

Investors claim they help homeowners save their credit, what they are really doing is helping themselves to the homeowners equity.

Mortgage lenders are advertising "We will re-finance with less than perfect credit" but they don't tell you 30 percent equity in the property is require in a pre-foreclosure.

Realtors will list the house for sale knowing it will take a good 90 days or better to get a qualify buyer. The homeowner will lose their home by that time.

Internet foreclosure companies ordered some course off the internet claiming they can make $5,000 per month helping homeowners stop foreclosures. These companies don't have a clue how to do it.

If all they can do is get you qualified for a re-payment plan, then they really have not help the homeowner. The collection department will make a re-payment plan their first choice because they really don't want to spent the time it takes to give the homeowner a workable plan.

The only thing the internet foreclosure companies really know how to do is take your money and not give it back when they can't help you. ( Note: Paying online foreclosure company and out of state is dangerous to your wealth). I know, because I have seen homeowners lose thousands going this route because of desperation.

Homeowner can save thousands and eliminate the stress that is associated with a pre-foreclosure. No longer do they have to fall victims to the hungry predators zeroing in for the kill.
Mortgage lender will work with the homeowner if the homeowner present a workable plan.

Copyright 2004, All rights reserved

Bobby Johnson is a Comprehensive Financial Planner who speaks on the topic "How to Eliminate Debt and Build Wealth", "How To Get Triple AAA Credit with The Help From The IRS." He is the author of " How To Save Your Home From Foreclosure and Not Lose Your Mind" Http://www.foreclosuremanual.ieasysite.com, You may reach him by email: bjohn54928@aol.com.