Foreclosure Strategy Unleashed

my mother died and my father made me the executor. i want to reinstate the loan but i need a little time maybe a month.

Not by itself. But there are lots of strategies that will work. You need to discuss this with either a probate or a bankruptcy attorney. Some facts need to be gathered–you can't get a meaningful answer you can rely upon on Yahoo Answers!

If you are willing to accept a little bit of risk, it is quite likely you could end up paying a lot less than the outstanding debt on the house to end up with it free and clear of the loan, given this economy. Again, some facts need to be gathered.

But you can save the home if you are willing to get some advice.

I lost my job two weeks ago.Prior to that for the last two years we worked fewer and fewer hours so the budget was strained. I managed to make bill payments but am 1 month behind in everything including house payment,taxes and insurance. I hope to have a new job in two weeks. How long do I have before all is lost?

It takes 90 days of non payment for preforeclosure processes to begin.. then after that, it takes another 90 days for a foreclosure to take place. But keep in mind, that when the process starts, they make you pay the past due balance in full or they will return your check. Best of luck to you.. hope you find another job soon. No worries, you really have quite awhile before anything happens.

Per the poster above, mortgage companies don't offer payment plans because that is considered a refinance. A refinance can't be done without a job. You will need to come up with the correct payment.

is there any program for people that are on social security disability that have a low income and a high interest rate that can help them keep their home?

No, there's no program set up for people like that, unfortunately.

You're better off working with the lender for some solution. Maybe they can modify the terms of the loan or let you sell the house for whatever you can get. You may have to refinance with another lender, or sell and purchase a more affordable property.

Social Security Disability doesn't pay much at all, because they'd rather keep the money and have you go back to work and start paying into the system again. Of course that's quite unreasonable from your perspective, but Social Security is the program that allows you to have any income at all when faced with a medical problem. There aren't any extra programs for when Social Security doesn't pay well enough (and it doesn't pay much at all!).

Hope that helps.
ForeclosureFish

Family, friends, yourself.

I have not been able to pay my house for the past six months, it went into foreclosure and know I got to pay Property Taxes but I dont have the money either. Could all of this affexct my ability to get my citizenship.

One thing that immigration looks into is
that once the process is started you wont
be a burden in society or ask for food
stamps, they want to know that theyre
giving citizenship to hardworking people
File your taxes on time and you shouldnt
have that much of a problem. Now your
credit is another thing, once youre a
citizen then you have to worry about
the foreclosure and your payments that
really doesnt help you, I dont know what
state your from but here in texas you
miss 2 payments and youre outta there
so youre lucky you got 6 months.

http://www.mortgageloan-modification.info
Even though mortgage loan modifications have helped so many people to save their homes during the current economic crisis, there is still a lack of knowledge amongst homeowners as to what loan modification is, how it works, who qualifies, etc.

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The point of a mortgage foreclosure is so that a lender can satisfy the debt of the mortgage that is on a home. Consider lengthening the term of a mortgage or contacting an alternative lender with help from a civil mediator in this free video on foreclosure law.

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Stop Home Foreclosure Today

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A website with constructive info regarding real estate and a company that has been helping individuals Prevent Foreclosures.

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Real estate tips from Derek Ebrecht of GREEN LIGHT REALTY. Information is provided by “It’s Time to Move Up”, the real estate resource for consumers who want their questions answers in ways they can understand. Derek specializes in foreclosure homes and foreclosure homes only. For more information please visit www.greenlight-realty.com or www.itstimetomoveup.tv.

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