More often than not, I have clients and customers tell me their attorney tells tem to just file bankruptcy and let the lender foreclose on the house.
WHAT!?
This is unbelievable to me! I have asked several attorneys why they think this. I believe they don’t realize the credit impact a foreclosure can possibly have on a client’s ability to buy another home in the future.
Currently, on the standard 1003 loan application form, there is a question about foreclosure or deed in lieu of. This must be … (14 comments)
avoiding foreclosure: 5 Tips for Avoiding Foreclosure
- 08/26/10 03:49 PM
Many people who are having financial difficulties don't know their options when it comes to the possibility of losing their home. Don't bury your head in the sand. Take action and be proactive in the process! Here are 5 Tips for Avoiding Foreclosure Do NOT ignore the problem. Contact your mortgage service provider as soon as you may be late on a payment. Contact someone who can counsel you, such as an attorney, real estate agent, financial adviser or even a HUD-approved housing counselor. 800-569-4287 or visit www.hud.gov Open and respond to mail and phone calls from your lender. Avoid scams … (3 comments)
Why do Attorneys think Foreclosure is no Big Deal?
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