Foreclosure Survival Guide, The: Keep Your House or Walk Away With Money in Your Pocket, 9th Edition

Facing foreclosure? Put together a plan. Take action. Foreclosure can be an intimidating and scary experience. The stress of potentially losing the family home can drive people to make mistakes, either by doing the wrong thing or failing to act at all. You need to know your options if you're having trouble making your mortgage payments or are already in danger of foreclosure. Your actions are vitally important if you want to keep your home or at least get through the process with as little anxiety as possible. This book has essential tips on what to do--and what not to do--if you're facing a foreclosure. Don't wait to take action if you're behind in mortgage payments and facing a potential foreclosure. The Foreclosure Survival Guide covers your options for avoiding the loss of your home or at least delaying it. The strategies and useful information in this book will give you the tools you need to develop a plan to try to keep your home or decide if it makes sense to move on.This guide can help you learn how to navigate foreclosure and potentially stay in your home. It gives you the practical information you need, including: the ins and outs of foreclosure how to decide whether you should try to keep your house what loan workout programs are available to potentially save your home and how to apply for them how to bring your loan current in Chapter 13 bankruptcy if you can't stay in your home, how to avoid unnecessary costs by filing for Chapter 7 bankruptcy what alternatives for giving up the property, like short sales and deeds in lieu of foreclosure, are available, and how to avoid becoming the victim of foreclosure rescue scams. This book's powerful yet practical advice also explains the 120-day foreclosure waiting period before foreclosure starts, how the foreclosure process works in each state, potential tax consequences, and more. This edition is updated with the latest information on mortgage-assistance programs for homeowners, federal mortgage servicing laws, relief for victims of natural disasters, and recent court decisions affecting homeowners' rights. Table of Contents Your Foreclosure Companion supported Changes in the Ninth Edition What You’ll Find in This Book Foreclosure: The Big Picture What to Expect Your Options: An Overview How You Can Stay in Your House Payment Free Why Foreclosure Doesn’t Have to Be So Bad Don’t Let a Foreclosure “Rescue” Company Scam You Beware of Property Preservation Companies Foreclosure Nuts and Bolts How Much Time and Notice You’ll Have Before a Foreclosure Sale In or Out of Court? Deficiency Judgments: Will You Still Owe Money After the Foreclosure? Taxes Can You Keep Your House? Should You? The Emotional Part of Foreclosure The Economics of Foreclosure: What You Need to Know When It Makes Sense to Keep Your House When It Makes Sense to Give Up Your House Working Out a Way to Avoid Foreclosure Do You Have Enough Time to Work Out an Alternative to Foreclosure? Using a HUD-Approved Housing Counselor Basic Loss Mitigation Options Loss Mitigation Options for Government-Backed Mortgages Foreclosure Avoidance Mediation Programs Homeowner Assistance Fund Programs Special Protections for Servicemembers on Active Duty Mortgage Relief for Borrowers After a Natural Disaster How Chapter 13 Bankruptcy Can Delay or Stop Foreclosure Using Chapter 13 to Keep Your House An Overview of the Chapter 13 Bankruptcy Process Coming Up With a Repayment Plan Will You Need a Lawyer? How Chapter 7 Bankruptcy Can Delay Foreclosure How Chapter 7 Bankruptcy Helps You Using Chapter 7 Bankruptcy to Keep Your House Using Chapter 7 Bankruptcy to Delay a Foreclosure Sale in Good Faith The Chapter 7 Bankruptcy Process: An Overview Do You Qualify for Chapter 7 Bankruptcy? Will You Need a Lawyer? Fighting Foreclosure in Court How to Fight a Foreclosure (And How Long You Can Delay the Sale of Your House) When It Might Be Worth Fighting The Statute of Limitations Has Expired When You Can Sue for Money If You Decide to Leave Your House Sell Your Home Let the Foreclosure Proceed Be Community Minded Be Wary of Leaving the Home Before the Foreclosure Sale Sell the House in a Short Sale Offer the Lender a Deed in Lieu of Foreclosure Avoiding Deficiency Judgments Income Tax Liability for Deficiencies How Long Can You Stay in Your House for Free? When You Miss Your First Few Payments After You Receive a Formal Notice of Foreclosure The Redemption Period After the Sale Eviction Lawsuits After Foreclosure Homeowners’ Association (HOA) Liens and Foreclosures How HOA Fees Work HOA Liens How HOAs Collect Overdue Fees What If You Break the HOA’s Rules? Stopping an HOA Foreclosure Potential Defenses If Your HOA Forecloses What Happens to Your Mortgage If Your HOA Forecloses? How HOA Super Liens Work How an HOA Foreclosure Affects Your Credit Getting Your Home Back After an HOA Foreclosure Resources Beyond the Book HUD-Approved Housing Counselors Real Estate Brokers Mortgage Brokers Lawyers Foreclosure Websites Books Looking Up Foreclosure Statutes Glossary State Information Index Facing foreclosure? Put together a plan. Take action. If your home is in foreclosure, you don’t have time to waste. You need to know your options and The Foreclosure Survival Guide can help. You’ll learn how to: • determine whether you should try to keep your house • find loss mitigation programs that could help you save your home • apply for mortgage relief from your lender • avoid foreclosure rescue scams • bring your loan current in Chapter 13 bankruptcy, and • if you can’t stay in your home, avoid unnecessary costs by filing for Chapter 7 bankruptcy. This edition’s powerful yet practical advice also explains your most important tool—the 120-day foreclosure waiting period before foreclosure starts. You’ll also find information on foreclosure procedures, potential tax consequences, and more. In addition, this updated edition includes a new chapter covering HOA liens, foreclosures, and what you can do if your HOA threatens you with foreclosure. "This book is for homeowners who can't make their mortgage payments. It provides a thorough, easy-to-understand, compassionate look at the foreclosure process and available options so that homeowners can determine if they should give up their home, file for bankruptcy, fight the foreclosure, or explore loss mitigation (foreclosure alternative) options"-- Provided by publisher