obama foreclosure halt

Even now with the Obama’s Loan Modification Program to stop foreclosure, families keep loosing their homes everyday by the thousands. The plan is not working for the majority of families due to the vigorous pre-requisites, red tape and bureaucracy that need to be surpassed to be considered for this program.

In the middle of this crisis some scammers have come along to take advantage of the desperation of homeowners who’s trying to stop foreclosure. These predators come across of these families offering help and hope disguised as Counseling Agencies, Mortgage Refinance Firms, Government Agencies and more.

Here follows a few of the latest scams that my readers and acquaintances recently have brought to my attention. If you are fighting to stay in your home, not matter the degree of desperation that you may have to stop foreclosure, be in the look out for these types on scams:

o Bait And Switch. These individuals come as Mortgage Loan Modification Companies and offer refinancing, in many cases under the Obama’s new Mortgage Refinance Plan, and once you sign they change the terms in the paperwork, and fix the documents to make a complete document in which you sign the title of your property to them.

o Temporary Renting of Property. In these scams, to stop foreclosure, the homeowner is offered to cede the property to the Mortgage Broker in order to get the home rented. The mortgage is supposed to be paid for the mortgage broker, and then, when the financial situation of the family improves, they will receive back the home at the same price and terms that the property was passed to the mortgage broker. The home, of course, will never be given back to the family.

o Mortgage Expert Mediator. These individuals pose as Mortgage Agencies or Mortgage Loan Modification Companies and in order to help you to stop foreclosure; they offer to negotiate the refinancing of your property with your bank or lender. They will charge you certain amount of money up front, and then they will disappear.

These are only a few scams that are been used lately. In your efforts to stop foreclosure, stay aware from more many scams, and before you work with any company or agency make sure it is a legitimate and reputable company.

On the other hand keep in mind that you don’t really need the help of agencies in your goal to stop foreclosure or to apply for the Obama’s Loan Modification Program, and if you think you will not qualify for this help, or if you already tried unsuccessfully, you still have options to stop foreclosure and save your home, and you can do it on your own once you know how to do it and how to use the law in your favor.

Foreclosure is a process and there are ways for you to delay that process and stay in your home mortgage-free for a few years even if you do not qualify for The Obama’s Loan Modification Plan or any other Mortgage Modification Program, even if you have not income at all. Unfortunately, many people know nothing about the many tactics and strategies available for fighting foreclosure.

Stop foreclosure and staying in your home is of up-most importance not only because it can potentially save you thousands of dollars, but because it will ensure that you maintain the ability to qualify for future programs, assuming that your financial situation improves later on. Learning about these strategies is the first step towards saving your home.

To find out more about this subject 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 my Website: How-To-AvoidForeclosure.info Click Here: How To Stop Foreclosure. Remember, you can do this without paying for Lawyers, Agencies or for any service at all. Just click the link To Stop Foreclosure.

What do you think of Obama’s $60 billion plan to halt home foreclosures for 90 days?

Democrat Barack Obama proposed more immediate steps Monday to heal the nation’s ailing economy including a 90-day moratorium on home foreclosures at some banks and a two-year tax break for businesses that create new jobs.

Once again, and as usual, he took the words right out of McCains’s mouth.

Don’t forget to vote on Nov 5th!

Tax Lien Real Estate Foreclosures and FREE Tax Lien Training

Half of all modified mortgages redefault within a year
More than half of all homeowners with modified mortgages fell at least two months behind in their payments a year after the adjustment was made, according to a federal report released Wednesday.