| It's the same old news every time we get a new | | | | But this should be made in a certain, specific way in |
| president. They plan and launch mortgage programs. | | | | order to make it work. |
| Do they work? Most of the time no, we still see many | | | | Lenders receive hundreds of letters daily so they just |
| homeowners losing their homes to foreclosures. | | | | don't pay attention to them, but they discard it, so you |
| Though the president has planned some modifications | | | | need to know how to use this approach in order to |
| with mortgage, it didn't work and many homeowners | | | | get noticed for the lender. |
| are still facing the problem of foreclosure. There are | | | | Look for errors in your property closing papers. One of |
| so many requirements needed just to get a loan | | | | the most powerful strategies that you can use to |
| modified making it impossible for homeowners to get | | | | delay foreclosure is to look for errors in your contract. |
| one. | | | | Contracts that are 3 to 7 years old usually have a lot |
| Obama's intentions were good when he laid out that | | | | of errors. But you will need to know what to look for |
| plan but it just doesn't work for most homeowners. | | | | and where to look. The good news is that once you |
| There were improvements made but it didn't do any | | | | know what to look for you can do this on your own. |
| good. Most people are still left battling with foreclosure. | | | | You can take this to court if you find errors and you |
| Luckily, you can apply your very own strategies to | | | | also don't need to hire a lawyer to help you. Lawyers |
| fight or delay foreclosure and let you keep your house | | | | usually know these kinds of things but avoid telling |
| for many, many years and no, you won't need any | | | | homeowners because they use this strategies |
| money for this. Here are some strategies so that you | | | | themselves and charge large sums of money for their |
| can keep your house for a long time. | | | | services.. |
| Write a convincing hardship letter. When you write a | | | | Request a court hearing. Lastly, request for a court |
| hardship letter, you're asking your lender to give you | | | | hearing, you have every right to do so as a |
| more time to pay mortgage. Explain why you're not | | | | homeowner. If you're able to do it properly, you can |
| able to make payments in time. Make it sound | | | | keep your house for 2 or 3 years. Most homeowners |
| convincing and not like you're trying to make excuses. | | | | try to avoid hearings because they think that it will |
| If your hardship letter is approved and considered by | | | | speed the process of foreclosure. It actually works the |
| the lender, he/she may allow you a maximum of 6 | | | | other way around if done properly. Remember that |
| months time to pay your loans. This is a good way to | | | | the aim is not about winning but delaying the |
| delay foreclosure rather than just avoiding the lender. | | | | foreclosure. |