What do you want?

[StoptheBank]

What type of information do you want to know about foreclosures?

If you purchased a book on foreclosure what would you want to know?

What would you not want to know?

How much would you pay for such a book?

[Minnymouth]

You want to explain what the reasoning is for these questions???

If your selling a book - then tell us you have a book for sale regarding foreclosures......

Minny

[SinkingFast]

Many of us here could write a book about Foreclosures. We can write from personal experience. We could tell people how to work their Lender to buy time. To get the loan pushed into Forebearance. How to proceed to get a Short Sale.

If you have any info you'd care to share, please do.

But don't come here using us as research material just so you can peddle your wares to people who are in dire straights financially.

[StoptheBank]

Serving people by getting them the information they need is a noble cause. Many people in financial straights don't have access to an online forum such as this and are dependent on foreclosure consultants who may have a hidden agenda. So getting them the information they want is important. Or would you rather they sit and do nothing while they lose there equity and home?

So please tell me what you would want to know if you had to do this all over again or what do you need to know now to get out of this situation?

[StoptheBank]

You want to explain what the reasoning is for these questions???

If your selling a book - then tell us you have a book for sale regarding foreclosures......

Minny

Nothing for sale. I am putting together a free pamphlet for people in foreclosure who don't have access to online forums.

[SinkingFast]

Sounds good enough!

I hope it's true.

Tell people how to contact their Lender from the get go. When the financial problem starts. Our Lender did not listen when we called the regular Customer Service number we had from the Statements.

Tell people how to get their loans placed into Forebearance to allow them time to resolve the situation. We got a sympathetic Customer Service Rep who gave us the fax number to the Work Out Dept when she wasn't supposed to. We faxed a Hardship letter and our Realtor faxed a copy of the contingent offer we'd accepted on our home. The next Rep I talked to said we did not qualify to get sent to the Work Out Dept.

Sometimes, people filing BK need the advantage of time to resolve other issues prior to filing. If they file Ch 13, the arrears on the home can be placed into their Ch 13 plan payments. Ch 7 filers have to be current, but current is a relative term. Some Lenders will adjust the payment schedule to allow borrowers to pay off missed payments at the end of the loan. Even adding additional payments to their original payoff date to give borrowers an opportunity to make good on their loan. People need to know how to get the additional time and that Lenders will sometimes work with them.

Tell people who do not want to keep their home how to get approved for Short Sale to avoid the double whammy of BK and Foreclosure on their Credit Reports. Even tho our Lender suggested Short Sale as an alternative to Foreclosure, no one ever bothered to explain how it worked. Again, I finally spoke to a sympathetic Customer Service Rep who explained how it all worked, how much money our investor would accept, bottom dollar. The problem was, we learned that about 3 weeks our from the Foreclosure Sale. Our State has no provision to stop a Foreclosure once the process has begun. We would have to have a buyer with the whole inspections and purchase process sold and closed prior to the date of the auction which is scheduled for later this month.

While you can write a general pamphlet, if you don't circulate one in all 50 States, at the very least, include the Foreclosure Laws in the States you will be giving away the pamphlet. Foreclosure laws vary from State to State. People need to know some States allow for mortgages with "Right to Sale" clauses. Some States go totally Judicial with the Foreclosure process.

People need to know they need to vacate the home prior to the auction. That's required by many States and most Lenders like for that to be the case.

Foreclosure is a complicated process that's mostly a secret to the average homeowner. Lenders sure don't tell the answers. Attnys don't either. Attnys very often tell clients the easy way to go, but the attny doesn't have to live with the consequences of their own advice.