Monday, June 30, 2008

Stopping a Foreclosure

The economic picture does not look like it is going to ease any time soon. As such, foreclosures will continue to be problematic for some homeowners. Following is the exerpt from another article about foreclosures and solutions. If we can be of public service enough to prevent even one family from losing their home to foreclosure, then the effort will have been worth it!

Can You Really Stop Foreclosure?

by Sean Roberts

When you found your dream home, you were so excited. It was exactly what you were looking for. You were told you didn't need a down payment, you would have payments you could easily afford and were told to just sign here and the house is yours. Many people fell for scams like these. These were called sub-prime mortgages. The reason they were a bargain is because they were designed for people with not-so-great credit.

These sub-prime loans were established for people who otherwise would never have been able to afford a home under normal circumstances. What these people, and possibly you, were not told is that the interest rate would jump at a later date. That means that the payments may have become too much and you now need to work to stop the foreclosure. These are bad business practices and far too many people fell for them as they chased the American dream. If you're stuck in a situation like this, you may be facing foreclosure and it's time to consider ways to stop it....................

Read the rest of this article, and many more on the subject, at our website Foreclosure.
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1 comment:

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