Welcome to the Foreclosure Prevention Group Website.
The current U.S. housing market and financial crisis have caused tremendous stress and heartache for families across America. If you or someone you know is among the millions today affected by the prospect of foreclosure, understand that you are not alone!
Unfortunately, too many homeowners facing foreclosure are not fully aware of their options. The first step towards protecting your family from foreclosure is information. Feel free to browse this website and start planning your best strategy today.
Do You Know a Homeowner Facing Foreclosure? Here’s A Way Out...
Headlines today are filled with stories about homeowners in financial distress, people who face a lender’s foreclosure on their home.
Millions of American home owners are wondering what to do. Like most crises, this one has produced its share of rumors and misinformation. One of the biggest ones is “just let it happen." Why fight back, this line of thinking goes. It’s too emotionally draining, and the government’s loan modifications aren’t helping many people. Well, that’s only partly true.
Why not be foreclosed?
- Avoid the foreclosure stigma – Homeowners will always have to disclose that they had a foreclosure on any mortgage application and (many job applications) that they submit in the future. This can have an adverse affect on their future mortgage rates. Foreclosure is asked about specifically in credit inquiries. There is no seven-year time limit on this item.
- Protect credit score – Credit scores will be lowered by 300-plus points (per loan) by foreclosure.
- Improve eligibility for a government insured loan – The homeowner will be ineligible for a government insured loan for 5-7 years. A foreclosure is the one credit report item that is almost impossible to have repaired.
- Avoid a deficiency judgment – Lenders can seek a deficiency judgment against the homeowner and collect any amount they do not recover at sale.
- Protect employment prospects – Many employers run credit checks on prospective employees. Foreclosure is one of the top items that will put a potential new hire, or even current employment, in jeopardy.
The first step to understand your options is to order The Foreclosure Prevention Guide. Once you receive it and read it you will be on your way to make the best decision in your particular situation. Order today... in this situation time is of the essence.