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Foreclosure Assistance?
Waiting For Help? The Facts Finally Exposed - Shocking Details
Foreclosures
continue to rise at record breaking numbers, but there is still no
converse of foreclosure assistance for homeowners. Homeowners are left
to avoid the pitfalls of foreclosure on their own. I will discuss some
tips to help you avoid foreclosure, but first let's look at what is
really going on.The
line for bailout money is long and includes Insurance companies, state
and local governments and the latest addition is real estate
developers. With millions of homeowners concerned with avoiding
foreclosure, you would think that a plan would be in place to start
helping them. No foreclosure assistance plan has yet to be created or implemented.The government is handing out your money with no or little plan for repayment and muddy rules to monitor how the money is spent.The
root of this entire economic meltdown is most likely found in the
housing market. With the record breaking rise in property values and
loose lending practices of many institutions, a perfect storm was
created that was really the first domino to fall. At this point, we are
just treating the symptoms to try and stop the hemorrhaging, but the
initial wound is still there and growing.When
the Associated Press started investigating where the money had gone,
they began with the banks that had received money from the initial
seven hundred billion dollar bailout package. Not a single one was
willing to comment on how they had spent or invested that money. There
is no evidence that any of those banks has created a plan or program to
provide foreclosure assistance to troubled customers.I
believe that had the government used that money to offer foreclosure
assistance in the form of purchasing the troubled mortgages from the
banks then offering those homeowners the opportunity to refinance at a
very low interest rate, the problem would have been under control
before it even had the chance to send us down this uncontrolled spiral.This
would have solved two problems at once. It would have provided the
banks with liquid cash and resolved the mortgage and housing crisis at
the same time. The government decided to put their faith and our money
in the hands of big companies rather than the American families.
Millions more have since lost their homes and more struggle to avoid
foreclosure.The
economy continues to worsen and as the end of the year, numbers start
to roll in they indicate the problem is not solved. For the month of
November existing home sales fell 8.6% while the GDP fell 0.5% for the
last quarter.The only foreclosure assistance
programs that the government has tried to put in place have helped less
than 1% of those facing foreclosure. The requirements to qualify and
participate are so stringent the program automatically limits those it
can help before anyone even applies.If
you are facing foreclosure and looking for foreclosure assistance there
are options available to you. You can stay in your home for over 24
months without making any monthly mortgage payments.The
banks certainly are not going to share this information with you
though. There are strategies to delay the process and it is possible to
avoid high priced lawyers and handle the situation all by yourself. The
key is, knowing what to do and have a plan of action.For
more in depth information about this topic and for tips and strategies
to avoid foreclosure and stay in your home for over two years without
making any monthly mortgage payments, go to Home Page: Foreclosure Assistance
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