How to Avoid Home Foreclosure Effortlessly, and Stay in Your Home Payments-Free
"There is no end in sight" That is the way Ali Velshi from CNN put it last week. "The housing market created this financial crisis and is not improving" Said Susan, the CNN Stock Market correspondent, this morning, and the bad news keeps coming while homeowners are trying to find out how to avoid home foreclosure.
People are going to keep loosing their homes for many months to come, and in turn house prices are going to keep coming down. This is not a hard thing to figure out. Demand makes prices, so, no demand means prices down. It is basic economics.
Today, many homeowners are not excited about keeping a home that has come down in value as much as 40% or 50% in just a couple of years, and who can blame them. Think about it; you owe $300,000 in your home loan, but your house is only valued at about $200,000. Seriously, how can anybody be excited about that?
People in this situation are not even interested in finding out how to avoid home foreclosure. It happened to me. I bought a house for $275,000, and I paid my mortgage religiously for about two years, then I got hit by the economy, lost my job and I could not afford my mortgage payments any longer.
At the same time, my house went from $275,000 to about $175,000 in price. Is not that amazing? Yes my home is now valued at $175,000, and I still owe a whopping $270,000. So, here are the facts: I can afford my mortgage payments now and save my home, but I just will not do it.
But that is not exactly the point I am trying to make, the thing is, I learned how to avoid home foreclosure for a very long time, without making any mortgage payments and anybody can do it too. This is my point; just because I will not keep my home, there is absolutely no reason to let it go to foreclosure either, at least not just in a few months.
I have been living in my home, mortgage-free, for the past 19 months, and counting. There is not reason whatsoever to lose a home to foreclosure just a few months after default in the mortgage payments, and unfortunately most homeowners do not know how to avoid home foreclosure and they end up losing their homes fast, I see that everyday.
Homeowners do not know what to do, or what are their options if they can not afford their mortgage payments anymore, they think they will lose their homes and a few months, and that is exactly what they do. They let it happen.
Here are the facts: you can stay in your home for over two years without having to pay any mortgages payments, and without having to spend your hard earned money paying lawyers or anybody at all for their services. You can do it yourself, but of course you would need to know how to avoid home foreclosure on your own, what to do and how to do it.
Sant, A. (2008, November 7). How to Avoid Home Foreclosure Effortlessly, and Stay in Your Home Payments-Free. Retrieved December 25, 2008, from http://ezinearticles.com/?How-
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