Foreclosure Company Scams

I spoke to a friend that I had lost touch with, yesterday, and she told me that she just spent $1,500 with a Foreclosure Company that guaranteed that they would save her home from foreclosure. Whats disheartening is that she hasn't heard from them in over a month and they don't employ any techniques that are different than I teach in my $19.99 book. What's worse that spending $1,500 that you could have put toward your loan modification? Giving up control of the communication to your lender when you are in a time sensitive process as important as the Foreclosure Timetable.

If you have given your hard earned money to a Foreclosure Company, at very least, call the bank right away to see where your process is. The lender will let you know if they have received all the paperwork is (example: is the loan modification in process). Of course, you don't know what loan modification process I'm talking about unless you spring another $19.99 for my book...but its worth the price.

6 Simple Steps to Avoid Foreclosure
www.avoidforeclosuremanual.com
$19.99

www.kpatricewilliams.com

K. Patrice Williams, the author of 6 Simple Steps to Avoid Foreclosure and 6 Simple Steps to Credit Repair, can be booked for training and speaking engagements at http://www.kpatricewilliams.com

Banks are Accepting Short Sales

Great news! I just came back from Real Property Retreat in Tahoe (hundreds of Real Estate Attorneys, Law School Graduates and some Law Students attended), and the great news is that real estate attorneys are reporting that lenders are finally started to accept thier clients short sale offers.

It seems the lenders are finally getting the picture. Short sales are a great tool for borrowers in danger of losing thier homes to foreclosure and for the lenders as well.

Wondering what a short sale is: Short Sale. If you can sell your house but the sale proceeds are less than the total amount you owe on your mortgage loan, the lender may agree to a short sale payoff or "short sale" and write off the portion of the borrower's mortgage that exceeds the net proceeds from the sale. When a borrower receives a short sale offer, the borrower should contact the lender immediately. The lender normally takes them a month or two to consider the short sale settlement.

Patrice

6 Simple Steps to Avoid Foreclosure

6 Simple Steps to Avoid Foreclosure has been revised for 2009, to include government related programs designed to help borrowers keep thier home! http://www.avoidforeclosuremanual.com

Audio version to be released in July 2009.

Best Regards, Patrice