Foreclosure Newsflash - Yahoo News

Stephanie Rojas of the Rockland Housing Action Coalition

Books on Stopping Foreclosure

	Stop Foreclosure Now: The Complete Guide to Saving Your Home and Your Credit List Price: $19.95 Sale Price: $10.43 Used From: $0.01 Average Rating:
	There are hundreds of books that show investors how to purchase foreclosure properties, but this is the only book that helps people who are in foreclosure. This is the only book that helps homeowners understand the foreclosure process, and explains practical strategies they can utilize to save their homes...

	Foreclosure Self-Defense For Dummies List Price: $19.99 Sale Price: $5.24 Used From: $0.40 Average Rating:
	Facing foreclosure? You need to do three things: stop worrying about why this has happened to you; resolve to fight the foreclosure and save your home; and read Foreclosure Self-Defense For Dummies. It delivers the knowledge, strategies, and tactics you’ll need to take command of your situation and achieve the best possible outcome...

	American Foreclosure: Everything U Need to Know About Preventing and Buying (American Real Estate) List Price: $25.95 Sale Price: $8.60 Used From: $6.22 Average Rating:
	The Definitive Foreclosure Guide for Every Homeowner and Investor Whether you're trying to protect your home from foreclosure or invest in foreclosed properties, you still need reliable information and expert advice to protect your investment...

	Stop Foreclosure Now in California (Nolo Press Self-Help Law) List Price: $29.95 Sale Price: $45.00 Used From: $2.71
	Across the country, foreclosures are at an all time high, but especially so in California, where people facing foreclosure actually have several options. STOP FORECLOSURE NOW (California edition) provides step-by-step instructions to help Californians avoid foreclosure proceedings and protect their credit...

	How to Use a Short Sale to Stop Home Foreclosure and Protect Your Finances List Price: $18.95 Sale Price: $11.36 Used From: $7.80 Average Rating:
	Don’t lose your ho me to foreclosure! Do a short sale! Robert Irwin, one of America’s most trusted real estate experts, provides the tools you need to avoid foreclosure—and protect your credit, your wealth, and your peace of mind...

	Defeat Foreclosure List Price: $19.95
	Save your house, your credit and defend your rights. Defeat Foreclosure is a must read in the current mortgage melt-down. Written in easy to understand language it applies to homeowners in every state...

	15 Ways to Stop Foreclosure: Foreclosure Survival Guide List Price: $29.95
	5 FACTS TO KNOW 1. You can get free money to pay your mortgage (not a grant) 2. You can pay your bank less than you owe 3. You can file bankruptcy without an attorney 4. You can refinance even with bad credit 5...

	No Pierda Su Casa Stop Foreclosure: Aqui Esta Todo Lo Que Ud. Debe Saber (Spanish Edition) List Price: $19.00 Sale Price: $19.00 Average Rating:
	This book is about how to avoid foreclosure

Home foreclosure is one of the most common problems experienced today. More often than not the problem stems from procrastination. After the homeowner misses one payment it's not difficult to miss more, before they know it they are way behind on their payments. In other cases there are unexpected situations that happen which are beyond a homeowner's control. A sudden tragedy in the family, hospitalization and emergency expenses occur that have a big impact on the budget. This results in a setback and homeowners find themselves behind on their mortgage payments.

Many homeowners are led to believe that they don't have anymore options by their mortgage lenders. After missing 3 or 4 payments the mail starts to pour in and calls keep coming relentlessly. Mortgage lenders demand for all the missed payments to be paid in full at once. Others hire law firms to sue to homeowners to rattle them. Due to this homeowners resort to anyway they can to end the foreclosure.

Fortunately there are ways to stop your house form being foreclosed. Homeowners do have available options for them even if the mortgage lender comes banging on their door. Before a person gets evicted out of their house legal procedures also have to be followed. Finding ways in the time you have left is one of the first steps in saving your house. One of the easiest ways is to modify your mortgage agreement.

Modify Your Mortgage

There are many options available for homeowners to save their house. Unfortunately not all of these options are applicable to an individual's situation. Homeowners can opt for a refinance but they have to be qualified for it. They can establish their own repayment scheme but most banks are demanding. In the end they cannot afford the plan to repay their mortgage. They can also file for bankruptcy but these can make a huge impact in the homeowner's credit and is temporary.

Homeowners can negotiate with the lender to change one or more of the terms in the mortgage agreement. Lenders can extend the terms, reduce the interest rate, extend the amortization of the payments, or spread the payments over a period of several months. This way the homeowners will have amore affordable payment scheme to follow.

If the homeowner is not able to get the plan approved, they can turn to a foreclosure negotiator. As long as he or she is a professional and comes from an accredited firm.