If you are interested in how to stop a foreclosure the best way, please visit my website at: www.realestatesolutions2012.com We offer a solution that will immediately stop the foreclosure; and insure that your credit is not adversely effected.

1. ==== ====
For A Fast, Easy Way To Stop A Foreclosure, Check This Out.
www.realestatesolutions2012.com
==== ====
There are myths that surround a foreclosure. These falsities may create panic in a homeowners
mind. Therefore it is required that the person must know the Fact about foreclosures. Before
discussing the common myths about foreclosure it is required that the person must be first sure on
the actual meaning of foreclosure. Foreclosure is referred to as the legal proceeding in which the
mortgagee (lender) obtains the courts order in which the mortgagor (borrower) right of redemption
of the mortgage property is terminated. This means that even if the borrower is ready to pay back
the complete loan amount to the lender along with the interest, the mortgaged property will not be
returned back to the borrower. The concept of foreclosure is not as simple as it appears and it
involves many complications. Due to these complications there are many myths that are prevalent
in the society which might create fear and at the same time it affects the person (either the
borrower or the lender) in an adverse manner.
Some of the most common myths surrounding the foreclosure are as follows:
Myth: The bank forecloses on my house as soon as the debt period expires.
Fact: No bank or any lender would want to go through the process of foreclosure. The lender
always wants his money back along with the interest charged on the loan. Also the process of
foreclosure is very lengthy and it might cost extra to the lender. The value of the property may not
be equal to the loan amount and most times is quite less. This means that with the process of
foreclosure the lender is bound to lose a huge amount of money. Therefore the option of
foreclosure is the last option and often times taken only when all other procedures for the recovery
of the loan have failed or the borrower has declared bankruptcy.
Myth: The lender has threatened to foreclose on a property in New York, NY. I cannot stop this
New York foreclosure because I don't have any money.
Fact: This is not true as there are many ways by which the person can stop the foreclosure of the
property in New York. There are many agencies present in New York that can help stop
foreclosure free of charge. Also there are companies that offer bridge loans to help New York
homeowners catch up on their payments and stop the foreclosure of the property. One only needs
to approach these agencies and chart out a plan with them. It must also be kept in mind that the
interest rates on foreclosure protection loans are normally higher than the normal loans.
Therefore, these loans must be taken with caution.
Myth: I have received a letter from the lender stating that they will foreclose on my mortgage
property if I do not pay back the loan in a week. There are no means by which I could avoid
foreclosure. This will not only lead to the lost of my home but will also lead to a negative credit
rating.
Fact:There are many ways by which you can avoid foreclosure. One is to talk to the lender and
work out a plan whereby the borrower agrees to pay back the loan amount in the future along with
the interest or to pay the loan in installments spread over a time. The lender does not want your
home, so most of the time you can come to a mutual agreement with the lender. However, if in any

2. case the negotiation with the lender does not succeed then you can contact a foreclosure
consultant and have a professional negotiate with the lender for you.
Myth: I am behind on my mortgage payment. This will lead to foreclosure of the property.
Fact: Yes, it is true that if you fall behind on your mortgage payment the foreclosure proceedings
will began. But not all cases result in foreclosure. This means that even you can be a part of the
exception. First, you must try your best to pay the mortgage payments on time. However, if you lag
behind in the payments then don't hesitate to call your lender and work out a new payment
schedule. For the most part the lender will agree to the new payment schedule but you will also
have to be careful that the interest rates might also be revised and new higher rates proposed.
However, if in any case this also does not work out then contact a foreclosure agency for advice
and assistance.
Myth: After I have received a New York foreclosure notice is it necessary that I should leave my
house?
Fact: Most of the states have very strong policies on foreclosure of a house. In Texas, you have
21 days after you receive the notice to attempt to resolve the issue or the house will be sold at
auction. Other states foreclosure preceding may not be as quick therefore the homeowner may
have more time to save the house by paying the remaining amount or if this is not possible than he
can even arrange an alternative place to live. However, if the final notice of foreclosure has been
received by the borrower, then he is entitled to physically move out of the house or work it out with
the lender.
Myth: Is it true that after a person has gone through the foreclosure then he/she might find it
difficult to acquire a new home loan?
Fact:Yes, this is true that getting a loan after a foreclosure would be difficult but not completely
impossible. This is because foreclosure is considered to be the worst thing that could appear on
the credit report. Therefore, a person might find that many banks are reluctant to grant a loan after
foreclosure. However, there are a few banks that will grant a loan to a person after foreclosure. In
this case the person must be ready to pay a very large down payment and even the interest rates
on the loan would be quite high. Also the norms and conditions on the loan are very strict.
However, if the foreclosure was after 4 to 7 years then it might not be much of a problem for the
person to find a lender.
Myth: If I declare myself as bankrupt I can protect myself from foreclosure.
Fact: This is true but only on a temporary basis. This means that filing bankruptcy under chapter 7
cannot be marked as a permanent end to the foreclosure. If you fail to meet the requirements and
terms of the bankruptcy you will find yourself right back in foreclosure. Therefore you will need to
take some more steps to avoid foreclosure in the long run.
Myth: My property is of no use to me and I do not mind if the property is foreclosed by the lender. I
will not have to pay anymore payments and I will not be liable for any outstanding debt from the
lender.
Fact: As mentioned earlier it is clear that if a person has a foreclosure on their credit history then it
is the worst situation that you can have. Therefore, even if the property is of no use to you it is
necessary for you to make all the efforts possible to save the property from being foreclosed on by
the bank. If you want to have a good credit history it is helpful for you in the long run to try to not
have a foreclosure on you record. Also keep in mind that if the foreclosed property is auctioned for
a lesser amount than the outstanding loan amount then you are liable to pay the lender the
remaining amount of the loan. The lender can even charge interest on the outstanding amount.
Myth:During the foreclosure process or even after the foreclosure of the property is it true that the
lender can send me to jail if I don't pay?
Fact: No, this is not true in any circumstances. The lender cannot threaten to send you to jail for

3. non-payment of the loan amount. However, the lender has all the rights to move you out of the
foreclosed house. Therefore if you are threatened with jail by the lender then you can file a formal
complaint. I suggest you consult an attorney to discuss your options.
Apart from the above mentioned myths there are several other myths prevalent in the society.
Therefore it is necessary for the borrower to approach an expert on this matter and seek his/her
clarification.
You can go to our website at www.realestatesolutions2012.com to learn more facts about
foreclosure and how you can stop the bank from foreclosing on your home. You'll also find much
more helpful articles, guides and educational videos about the foreclosure process. Troubled
Homeowner has foreclosure consultants that are available to assist you with you any and all
problems that you have with your home.
David Cathey is a Chairman of the Board of The Real Estate Solutions Organization. David helps
homeowners in the New York, New Jersey area overcome difficult situations that may arise during
home ownership. David believes in the sharing of knowledge and information.
==== ====
For A Fast, Easy Way To Stop A Foreclosure, Check This Out.
www.realestatesolutions2012.com
==== ====