Here are your action steps

Step 1
Go to this website www.consumerwarningnetwork.com and get a copy of the legal document required to request for the original mortgage note that you signed.

The original note you signed should be filed with the Clerk of Court and a copy should be sent to the attorney representing the lender,  however, this is only in some jurisdiction. Contact your Clerk of Court in your jurisdiction to find out the rules where you live.

Step 2
Wait 30 days for the lender’s attorney to respond and if they don’t then file a (motion to compel) with the court request for a hearing. The (motion to compel) will order the lender to produce the documents you requested. You can find a blank copy of this document on the website given in step 1.

FYI-This will not stop your property from foreclosure however, it will give you some time to find a job and work out something with your lender. As you have found out the lenders are not sympathetic to you or helpful in anyway, which does not make sense-since they stand to make more money once you find a job and maintain your mortgage.

Do Not Give Up. Fight-Fight-Fight. It is not your fault your company has laid you off. It is not your fault that some people are so greedy that they are willing to crush the dreams of others for a profit. Make them wait, use the law to find your way out of this. When you feel like giving up-stand up and FIGHT some more.

Here are your action steps

Step 1
Consider winterizing your home by putting in energy saving window(s)/outside door. This year you will get a tax credit of up to $500,  if you replace your old window(s)/outside door with an energy saving window(s)/door. You can also put your winter drapes up and caulk the windows

Step 2
Consider lowering your heat when you are not at home

Step 3
Consider using cold water to wash your clothes or dishes. You can buy tide cold-water laundry detergent to wash clothes

Step 4
Consider paying a monthly fee for oil. Some oil companies will charge you $100 a month to fill your oil tank every month. This also includes maintenance of your boiler

Step 5
Consider shopping around, call several oil companies and find out how much they charge per gallon.

Step 6
Consider buying twin draft guard for your outside door. This works really well in keeping the cold air out and keeping the cool air in if you live in a warmer climate. You could buy online for $20 plus s&h

Tips on “How to” make your own twin draft guard for your windows/door coming soon.

Here are your action steps

Step 1
Turn off light when you leave the room

Step 2
Unplug all electronics if you are not using them or when you’re not at home

Step 3
Use energy saving bulbs (they are a little more expensive but you will save in the long run)

Step 4
Use night lights when you are not in a room (bathroom, hallway, kitchen etc)

Step 5
Call electric company and insist that they come out to read your meter. Sometimes they will charge you based on the previous year usage. This may be a problem if it is your first year in the house.

With interest rates falling, unemployment growing, and the economy waning, more banks are not only helping homeowners who are delinquent on their mortgage payments, but also those who are at risk because of lost of jobs, family death, medical bills, lost wages due to reduced hours at work, or military service.

Newsday Gigi Berman Aharoni, reported that HSBC spokesperson Kat Durham said, “It’s never appropriate to do nothing. The earlier you take action, the more options you may have.”

Here is what you need to know:

Step 1:

If you think you may have a problem, even if it is a potential problem, contact your mortgage company and speak to someone to be prepared.

Step 2:

Ask your lender if you qualify to increase your loan terms. This will help you to reduce your monthly payments but may create a balloon payment in the years to come. This balloon payment increase may not happen for about 40-50 years

Step 3:

If you have the credit and you qualify, you may be able to get your ARM (adjustable rate mortgage) lowered. You may qualify for a fixed rate as low as 3%, which will gradually adjust back up to about 6 to 6.5 percent. However, the worst thing you can do is to wait until your bills pile up and your debt to income ratio is too high. If you think you are going to lose your job, contact your mortgage lender. (Procrastinating is the worst thing to do because the problem will get greater the longer you take to address it-take action today)

Step 4:

You may also qualify for a principal forbearance. What is a Principal forbearance? Principal forbearance is a way to keep your home and pay a portion of it later. Here is how it works: The bank carves off a portion of the money you owe and puts it aside. You continue making payments, now lowered, on the rest of the loan. However, when you sell or refinance, the bank adds that portion back onto the total amount you must repay. The hope is that your home value will have increased and the bank will get back their money.

Step 5:

Contact your lender and ask them to waive the late fees or other fees that the bank add to your mortgage. This may help you to get on track with affordable monthly payments.

Here are your action steps

Step 1
Fix your credit score so it is at-least 700 or higher

Step 2
Make a 20 percent down payment

Step 3
Buy your home now, interest rates have not been this low in years and you probably won’t get it this low again

Step 4
Go to the bank in your neighborhood and apply for your mortgage, mortgage brokers have an interest in selling you a higher interest rate because they plan on selling your mortgage to the highest bidder. Higher interest rate yields greater profits.

Step 5
Make sure your debt to income ratio is low, therefore you will not be a high-risk candidate. Pay down your debt before applying for a mortgage or refinancing.

 Consider these action steps

Step 1
Contact a few realtors in your area

Step 2
Submit all the documents that the realtor requires

Step 3
Go to your bank to get a mortgage or use a mortgage broker

Step 4
Get homeowners insurance

Step 5
Go house hunting-Consider checking these:

a. make sure that the boiler is less than 10 years old (you don’t want to have a boiler problem)

b. make sure the roof is under 5 years old

c. make sure the owner has all the CO’s for any attachments

d. make sure that all the windows work

e. turn on the faucet in the bathroom and kitchen to check for hot and clear water

f. flush the toilet

g. turn on the stove

h. if there is an area rug check under it

i. walk around outside and make sure the ground isn’t soft because this might mean there are septic tank problems (you don’t want that problem either)

j. make sure the house isn’t too old, sometimes the seller paints their house to hide water damages but they always forget the closet so when looking in the closet check out the ceiling

k. if you go to a house and the water is turned off and appliances plugged out be weary of that house

l. make sure you get your termites inspection done by someone with a license

m. make sure you get a licensed engineer to inspect your home

n. make sure the owner is not the realtor, a friend of the realtor or family member of the realtor (conflict of interest-this happened to me while I was looking for my second home. My realtor tried to sell me his family member’s house and he fabricated the termites inspection form and engineering reports. I got a second opinion and terminated the sale on that money pit.)

o. check the pipes (in the basement) and make sure they are not old, leaking or rusty. Try to find a home with the pipes above ground because if something happens while they are below ground that will be an expensive fix for you

p. make sure the lights work

q. if you love the place then come back at night or the weekend to check out the neighborhood. Try to meet your neighbors because you do not want to spend the rest of your life living next to evil people

Step 6
Find an attorney

Step 7
Go to closing

Consider these action steps

Step 1
Contact a realtor and get a list of land for sale

Step 2
Make sure the land is located in an area not affected too much by depreciation because of the economy. Look for land near golf courses, shopping centers, schools, transportation, near a beach or near new homes

Step 3
Go and visit your land to make sure it is not near a sink hole, that there are roads, a water system in place, electricity and no trees.

Step 4
Purchase that land

Step 5
Wait until your land appreciates and builders start building again

Step 6
When you are ready to sell your land, contact a realtor and sell your land without leaving your home. You just need a fax machine and bank account to cash your check.

Tip- This is the best time to buy land because of the economy. Do not wait until land prices have increased. Here is your opportunity to buy low and sell high at the right time. If you have some extra cash and don’t know where to put it. LAND!