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Are you losing your home?

Updated on April 22, 2012

Home Foreclosure can be prevented

It happens all the time . . . people buy a house then begin renovations, and lose their job.  Costing them the extra money they did have to pay mortgage payments.
It happens all the time . . . people buy a house then begin renovations, and lose their job. Costing them the extra money they did have to pay mortgage payments.

Have you seen ... ?

Have you seen a home near you that has a notice of " This property is maintained by" in the main window.

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Do NOT lose your home . . . find a way out

One of the things that I run into all the time in my work are people that don't realize that they have options. Way too many people that are finding difficulties in paying their mortgages don't even know that the bank or lender doesn't want them to lose the house. A bank or money lender makes their money by borrowers paying their mortgages. They would not make any money (from interest) if the house was lost or payments unpaid. Having someone set up in a paying mortgage is 'business'. A foreclosure means that they will have expenses/costs incurred on a property they do not want to own. No institution that I have ever dealt with wants to own personal property. They want to lend money to people that do and earn the interest from said mortgage.

What the bank won't tell you . . .

Now you know that an institution doesn't want to own your property, you need to know this. A banking loans manager knows the risks in lending. Even though there is not much say in who gets a mortgage from a personal point of view. Mainly, a mortgage is given out from credit ratings, employment, down payment, and security. A banker knows that when an account becomes a risk, from non-payments they need to begin the process to review the account. This begins with letters of notification of non-payment or falling behind. Then an occupancy check. Verifying who lives at the residence. This is not an act of aggression toward the home owner. It is only the first steps that a lender must make. Then they need to continue with notifications. Failing an owner replying to the lender, the lender must take further steps.

What they don't tell you is that if your life has changed... (employment, marital status, physical abilities and more) you simply need to come in and speak to them. I know, it's scary because you don't want to lose your house, but if you go to them, they don't want you to lose it either. It is far cheaper to adjust your mortgage payments than to foreclose. And much simpler. If you have had even six months of on time payments since you purchased your home, they will listen. Stuff happens, deal with it.

Get out of the grind. Budget for fun times ahead

Notices from the Bank

A notice from the bank is not to scare you. It is not to upset you, nor is it intended to worry you. It is business. That's all. So take care of your business. If you missed a payment, or are behind in your payments you will receive a notice. DEAL WITH IT !

Seriously, take the notice as a way to get in 'good' with the bank. If you are having troubles, the bank is not going to foreclose on you because you missed a payment or two, they foreclose because you will not go down to them and speak to them about your issue. They need to know what is going on. They send notices, occupancy checks, more notices in hopes that you will go into the bank and speak to them.

How can we help. . . is one of the first things your mortgage company will ask. When they do make some form of arrangements with you, you need to follow through on them. Don't make an arrangement you cannot keep.

I am trying to help you.

This hub may sound a bit harsh at times. I have no intentions on being rude. I am telling you the truth. You have the right to help, get it.

It is my hope that you will get all of your business in order so that you can continue on with your life uninterrupted.

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