Comments on: Tips For Surviving the Foreclosure Crisis

By: electric actuators

electric actuators — Mon, 07 Jul 2008 11:42:13 +0000

Interesting article. I need to read it again in order to digest all the information correctly!

By: Christian Personal Finance

Christian Personal Finance — Sat, 05 Jul 2008 16:34:56 +0000

Wow! Times have changed……

I found a pile of Time magazines from the 50s and 60s and this ad was in a 1965 issue. I think I am going to give Honda a call and take them up on their offer How about you?

…The IRS is going to be increasing the mileage rates A few t…

By: Curious Cat Investment Blog

Curious Cat Investment Blog — Thu, 03 Jul 2008 20:56:49 +0000

Good ideas. Also don’t get caught up in the hype. There really is only one things about saving yourself from foreclosure that is related to others facing foreclosure: that you might not be able to refinance out of an un-affordable loan. Your advice is true for someone facing that problem 4 years ago. The only real difference is more people are in that position today.

I am pretty sure you can’t sign over “your deed” because you don’t have it. The banks that hold the mortgage don’t let themselves loose their collateral so easily. But you are correct that you have to be careful of fraud and as the sub-prime crisis, credit card company abuse, car financing abuse… have shown just because the company is huge and spends lots of money on happy commercials doesn’t mean they won’t try to rip you off.

By: "Mo" Money

"Mo" Money — Thu, 03 Jul 2008 18:00:55 +0000

Communicate with your lender as the post says, talk to them as soon as possible and try to work something out. They don’t want to foreclose on your house.

By: Watson Inc

Watson Inc — Thu, 03 Jul 2008 17:58:39 +0000

I thought the part about contacting the lender could stand to be re-emphasized because so often people wait until it’s too late.

By: Dan

Dan — Thu, 03 Jul 2008 14:26:16 +0000

I would add this: Face the truth. If you are in danger of foreclosure, it could be an indication that you cannot afford the house you are in. While you are fighting for your house, you should be honestly asking yourself what is in your financial best interests. No one wants to sell and buy a condo, or even move into an apartment, but that’s just what you might have to do.

Bottom line, if you are in danger, at least consider the cost of fighting and going through a foreclosure against the cost of selling and downsizing. It might be a smarter move to get out while the getting’s good.

By: Kristen

Kristen — Thu, 03 Jul 2008 13:14:47 +0000

Sorry, I just realized this was a guest post! Kudos to “I paid for this twice already …”

By: Kristen

Kristen — Thu, 03 Jul 2008 12:40:53 +0000

Good post Gibble! I work for a non-profit credit counseling agency that also happens to be HUD-approved to offer housing counseling. I would like to offer one more bit of advice.

If you happen to be in the unfortunate position of receiving a foreclosure notice, get help immediately! In Pennsylvania (and I assume other states), anyone who receives a foreclosure notice (aka an Act 91 notice) only has 30 days to contact an housing counseling agency, and that will also, at least temporarily, put a stop to any foreclosure proceedings. Way too often people will literally wait until 4 p.m. the day before their house is going to be foreclosed on to call for help, and then they are upset that we can’t always do the required counseling right then and there. Please take action as soon as you get a notice.