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Fixing the Foreclosure thing.

Fixing the Foreclosure thing.

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Published by Teisha Powell
Florida foreclosure lawyer, florida foreclosure attorney, foreclosure, foreclosure defense, help save my home, foreclosure, loan modification, Obama, Romney, 47%, occur wall street, I need my house, Foreclosure lawyer, Foreclosure attorney, Foreclosure defense, Foreclosure defense lawyer, Foreclosure defense attorney
Florida foreclosure lawyer, florida foreclosure attorney, foreclosure, foreclosure defense, help save my home, foreclosure, loan modification, Obama, Romney, 47%, occur wall street, I need my house, Foreclosure lawyer, Foreclosure attorney, Foreclosure defense, Foreclosure defense lawyer, Foreclosure defense attorney

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Published by: Teisha Powell on Oct 03, 2012
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01/29/2015

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5 Ways to fixing the foreclosure thing.If you are facing foreclosure or you are about to, then you need to know that you are not alone and that there are options available for you. In American a person who faces foreclosure will either go through a judicial or non-judicial process (depending upon which state the property subject to foreclosure is located).A non-judicial process means that the court is not involved in the foreclosureprocess. A Judicial process means in order for the lender to foreclose on thehome, it must go through the court system. Florida and New York are examples ofjudicial states. The lenders must go through the court system in those states toobtain the home. It appears there are more advantage for a homeowner whose property is located in a judicial state as the homeowner can obtain leverage throughthe court system. In any event, below there are 4 ways to fix the foreclosure thing. Take note that not all of them apply to non-judicial state (and has been identified below accordingly).1.Consider filing for chapter 13 bankruptcy. (Judicial and non-judicial states) A chapter 13 bankruptcy allows you to save your home by giving you an opportunity to repay the arrears owed to your lender over a fixed period of time (usually 3 to 5 years). In order to obtain a chapter 13 bankruptcy, the borrower must have disposal income. It is best to consult with a bankruptcy attorney in your state who can determine whether or not you are a good candidate for chapter 13bankruptcy. And yes, you do get to keep the home, if you file the chapter 13 bankruptcy as long as you have the means to pay for it over the fixed period of time outlined in the bankruptcy plan.2.Retain a foreclosure lawyer- (Judicial state only)- If you are in a judicial state like Florida, then hire a Florida foreclosure lawyer. Once you are served with a foreclosure lawsuit (complaint), you have a limited amount of time to file your answer with the court. By retaining a Florida foreclosure lawyer, the lawyer will help preserve your rights. This might provide the leverage you need to work something out with your lender. These days’ retaining a foreclosure lawyer is as little as $300.00 per month. The lender retained a lawyer to foreclosure on you. Might as well, you retain a lawyer too.3.Loan modification (Judicial and non judicial states)- apply for a loan modification. A loan modification is when the lender reduces the amount of interest rate that you owe or it extends the loan terms perhaps from 30 to 40 years.By doing so, you will obtain cheaper mortgage payments. In order to qualify fora loan modification, you must convince the lender that you suffered some type ofhardship that caused you not to pay the mortgage. If you get qualified for theloan modification, then you will be able to save your home from foreclosure.4.Knowledge is power- consider a quick read. Buy a book on foreclosure like, “The Homeowner’s Guide to Surviving Foreclosure,” by Teisha Powell. This book is available for sale on www.amazon.com. It is simple to read and easy to follow. And no, you won’t be an expert when you are done reading the book. But you will have enough knowledge to have an understanding on just what the foreclosure processentails and ways you can save your home. Remember, what you don’t know will literally tear the roof off over your head. So get informed now. And get “The Homeowner’sGuide to Surviving Foreclosure.” You will be glad you did.In closing, foreclosure is happening to nearly 7 million Americans. You do not have to be left in the dark and throw your hands up in defeat. You can fight backby doing the following listed above. If you are in a judicial state like Florida, remember to contact a Florida Foreclosure lawyer. Your house is worth fighting for. So defend itAbout the Author- Teisha Powell is an attorney in the State of Florida. Ms. Powe

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