If I just plan to walk away, why do I need you?
Foreclosure is a complex process. It will have a lasting impact on your finances, credit, and family. This is not a do-it-yourself decision or process. Most people do not fully understand how foreclosure works and are unequipped to take advantage of the many options and techniques that we use.
Without an expert to guide you, it is easy to make wrong decisions that can cost you many thousands of dollars. We provide the education and resources that can allow you to stay in your home longer, save much more money, and exit foreclosure with a fresh start in a home you can afford.
Will I still owe money to the lender?
Probably, but that will depend on the terms of your mortgage. We have techniques that can be used to release your liability in many cases. Also, there is a new law that waives the tax liability for debt that is forgiven by the lender in 2007, 2008, and 2009. This law, however, is scheduled to expire in 2009. More details about this are included in our Member’s Area when you join.
How can your Foreclosure Survival Guide save me money?
There are several ways. First, we research your situation to determine the maximum time that you can stay in your home…payment free!
Secondly, we explain a little known technique that can result in having your lender pay your moving expenses – often $1,000 - $5000 or even more!
Third, we help reduce the damage to your credit and then help to improve it. Credit Scores can affect the amount that you pay for car insurance, medical insurance, and of course the interest rate you pay for all kinds of borrowing needs in the future. And finally, we can assist you in being released from liability for any deficiency balance. Your savings can be tens of thousands of dollars if you know what to do.
How long will a foreclosure stay on my credit report?
Usually it stays for 7 years. The negative effects, however, tend to be reduced each year. What is more important is how your Credit Scores are impacted. Our Professional Credit Specialists can provide tools and techniques that can lessen the damage now and then help repair your credit faster when the foreclosure is finished.
I have been receiving letters and phone calls from companies that
promise to stop foreclosure. Should I listen to them?
You should use caution. Many of these companies are out to make big profits at your expense. Watch out for promises that they will “take over your payments” because you are still liable for the loan! Others will ask you to sign the deed over to them with the promise that they will lease or sell the house back to you. There are many instances where the homeowner was evicted after signing over the deed. Do not sign anything until you have an attorney review the documents!
Does U-Move-On buy houses?
No, and there is no contract to sign either!
How long until I can buy another home?
No one can tell you for sure because everyone’s situation is different. The Government is now getting more involved with the “Credit Crisis” and new laws and programs are being created. Lender programs and requirements have tightened dramatically over the past year. Some experts are predicting that the guidelines will be relaxed in a year or two after the crisis subsides. Current guidelines provide that it may take as little as 2-3 years after the foreclosure is completed as long as certain guidelines are met.
Should I file Bankruptcy?
Everyone’s situation is different and the laws have changed so it is impossible to answer that here. We have qualified Bankruptcy attorneys on our team who can evaluate your situation individually and advise you as one of the benefits of our program.
My house has already been sold at auction. Can you still help me?
Most likely the answer is YES. We would need to evaluate your specific situation. If we cannot help you, we will refund 100% of your money.
