With all the talk of the $700 billion dollar bailout by Congress, the $900 billion dollar bailout by the Feds, and now the government talking about taking an equity stake in major U.S. banks isn’t it time for a citizen bailout? To date everything is getting worse with all the billions of dollars being pumped into Wall Street. As the economic conditions continue to decline, the foreclosure rates continue to climb.

The many reasons that foreclosures happen are being created by the economic mess Wall Street and the global economy is going through. Unexpected unemployment, loss of a second income, divorce, excessive obligations, and the inability to pay on an adjustable interest rate that keeps increasing all contribute to the reasons for increasing amounts of foreclosures. So where is the bailout for the average homeowner?

There are ways to avoid foreclosure. If you know you are going to be late or miss a payment, notify your lender immediately. This is not a time to worry about being embarrassed or how you appear financially, this is about saving your credit and your home. Sometimes lenders will work with you on late payments and not seek legal action against you as long as you are communicating with them. In your communications you may find you can catch up missed payments over time. They call this a repayment plan and what you will be doing is adding maybe $100 to every payment going forward until it is caught up. If you have an adjustable loan, your lender could freeze the interest rate or even change it to make it more manageable for you.

The part that makes all of the above work is your communicating with your lender. If you avoid letters and phone calls, they can only assume you have no intention of catching up on back payments. They must protect their interest and will take legal action against you by filing a Notice Of Default and start foreclosing proceedings. You will be given a certain time period to bring your payments current, pay the costs of legal fees, and you can have your loan reinstated. If that is not possible in your current financial situation, you must start looking at other options.

Once a foreclosure process has started, your options become limited as far as how to stop it. At this point, if you are financially unable to make up the payments,  you want to salvage as much as you can of what’s left of your credit rating. You could consider a Deed-In-Lieu of Foreclosure. Basically you will be deeding the property back to the lender who in turn forgives the mortgage and effectively this will stop the foreclosure. Unfortunately doing this will affect your credit rating as if you went ahead with the foreclosure process.

You should also be considering a short sale. If you owe more than the house is actually worth, you may want to consider this option. Working with an Agent, you can negotiate with your lender to find out if they will work with you and what the bottom line amount they will settle for is. This is going to affect your credit rating negatively as well, but not as much as a foreclosure.

The quickest way to stop a foreclosure and save your credit rating is by selling your house quickly. The best thing to do is to contact and interview a local real estate investor. These are people that specialize in assisting families in selling their houses quickly.

No market to contend with because the real estate investors purchase the homes themselves. You can usually close a sale in as little as seven days. Selling your home quickly, paying off the mortgage, and perhaps putting a little extra cash in your pocket is the most efficient way to stop a foreclosure.

Real estate investors really are the citizen bail-out we need today. They are effective because they can act now to relieve you of your financial obligation to your lender by purchasing your home. Even though the government cannot bail out Wall Street, you can trust your local real estate investor to help you in your time of crisis.

The squeeze placed upon homeowners is not going to let up anytime soon. The bailout will take months to even start helping our economy if it helps at all. People who are facing foreclosure are even considering the options of bankruptcy versus foreclosure. Before making a consideration for bankruptcy, lets take a look at how both will affect you financially in the future in regards to the fix they can provide today.

Neither of the options will be an easy one at all. Foreclosures will stay on your credit history for at least seven years while a bankruptcy will remain for ten years. Many mortgage lenders are going to look very seriously at whether you foreclosed versus a bankruptcy that did not include your house. Before you feel that foreclosure is a forgone conclusion consider other options as well.

First, if you are only one or two payments at the most behind, call your lender. Keeping a line of communication open between you and the lender is vital. Keep them informed of your situation and sometimes they will work with you over a period of time. Attempting to avoid calls or contact will only give the lender the option to start legal proceedings against you.

If you find yourself falling behind, you must be realistic and take a hard look at your finances. Could borrowing money from friends and family help you out of this current situation? If it will, can you keep up your obligation after that? If not, you need to seriously consider getting out of the obligation.

Even though you are considering moving, you do not want a foreclosure on your credit report. You must think about your future and the possibilities of obtaining a future loan for another house. You can sell your home even in this market to a professional real estate investor.

Putting your home on the market in this economy is difficult at best. Even new construction sales are down which makes the market even more unattractive. Your house could stay on the market for six to twelve months, and you would still have to make mortgage payments during this time period.

Sell your home to a real estate investor that specializes in your immediate circumstance. In some case, you could find yourself closing in as little as seven days. Contacting a real estate investor can stop the foreclosure process and may even put a little extra needed cash in your pocket.

 If you are facing foreclosure, don’t think that bankruptcy is the answer. The solution is to get out of your obligation with your credit rating still intact. Call and talk with your local real estate investor today.

Of the more than seven million families in the U.S. who have mortgages, almost fifteen percent of them are going into foreclosure. Some localities have foreclosure rates as high as forty percent. In areas that homes are being foreclosed on, home values begin to diminish even further. How did this happen and how do you stop the foreclosure notice that is sitting on your kitchen table?

All of this began when the interest rates were really low. Borrowers were refinancing mortgages to either get a lower monthly payment or to pay off credit cards and other debts. Some started a cycle of refinancing their homes to pay off debts and ended up owing more than the home was worth.

In the meantime lenders were popping up everywhere to get people to take out loans to buy their first homes. They preyed on people who traditionally could not buy houses. The lenders, working with brokers, offered adjustable rate mortgages with teasing rates in the beginning that were astronomical after two to three years. After the deal the mortgage was divided into mortgage backed securities which were sold to investors and servicing rights.

The lenders would sell the servicing rights to servicing companies which would collect a fee. In some cases if the fee was paid your mortgage payment never got to the lender. Most of the time though, people just priced themselves out of their homes. In this economy with jobs being lost and prices going up, making ends meet is harder and harder each day. When you start missing payments, the lenders start coming.

If you have avoided your lender, or have been unable to make your payments for three months, the lender will declare you in default. Once that declaration has been made and the process started, your options become quite limited. Once this process has started you either must come up with the back payments plus any fees or the mortgage in full.

Selling your house is an option, but you need to sell it quickly. You can stop the foreclosure process, but you must act and have your home sold before the process is completed. The best and quickest way to accomplish this is through a real estate investor.

Putting your house on the market via traditional means will not help you at this point.

Save your sanity and what is left of your precious credit rating. Talk to a qualified professional real estate investor today and stop the foreclosure process. Take control of your finances and your life

Are you facing a foreclosure or pending default? If you are heading towards the foreclosure route, you need to stop it before it affects every part of your life. You are already under stress enough because you have fallen behind on your payments. Foreclosure create even more stress, can destroy whatever is left of your credit rating, and leave you wondering where you are going to live.

The only guaranteed way to stop a foreclosure process is to pay off your mortgage debt. In simple terms, if you are behind by three payments, you’ll need to pay them plus any other applicable fees immediately. Sounds simple enough but if you have had difficulties keeping the payments up to begin with this simple task is almost unreachable.

Approaching the bank or lender after foreclosure proceedings have started is one way to try to stop foreclosure. However remember they are more than likely to want the amount you are already behind before they will continue any sort of amicable conversation with you. So since you are facing the worst case scenario, what should you do?

If you are unable to bring your monthly payments up to date, the only solution may be to sell your home quickly to avoid foreclosure. If you have other assets that you can sell, that may be an option as well. Attempting to pay it up using credit cards is really not advised as you will find yourself in a bigger financial mess than what you are already in.

Selling your home to a professional real estate investor, is the quickest and most economical thing you can do to stop a foreclosure. You can salvage what is left of your credit rating and stop the legal process against you. It is a difficult decision but one that you cannot put off at this critical time.

If you can find a way to make up your back payments quickly without getting into further financial difficulty, that should be a priority at this time. When looking at things realistically, and seeing that the only way to resolve this is to sell your home you must act quickly. Many real estate investors can close on your house in as little as seven days in some cases.

Foreclosure is a scary thing and difficult situation to deal with alone. Take action and talk with a real estate investor today and begin to take steps to stop the legal proceedings and start getting your financial life back on track

Selling your home quickly on the open market is one of the most effective ways to avoid foreclosure. Once the foreclosure process has started, your options become very limited. In the best situation you can sell your property to pay off the mortgage and still end up with a little cash in your pocket. If you can sell it early enough you can also save what is left of your credit rating as well. However just listing a home to be sold on the market is not necessarily the best option and should not be the sole option you look at.

The major downside to listing your home on the open market is time. The process of foreclosure is not going to stop just because you have an intent to sell. You will find yourself competing in a stressful race to unload your home before the lender gets it. The fact that you are going through a foreclosure process is stressful enough without adding any unto pressure on yourself.

In this economy the housing market is in a real slump. Even high end homes are dropping in value and the number of them coming on the market is growing according to the Dallas News. Homes can typically be on the market for six to twelve months before anybody makes you a serious offer. You can in some cases work with a lender to extend some time, but most mortgage companies will not but the process on hold for a year and postpone a sheriffs sale.

One way to avoid the lengthy process of selling your house is to do a short sale. This can be beneficial if you have little to no equity built up. Though short sale procedures differ bank to bank, selling short would require the lender to accept a lower amount of payoff. If the bank will accept the offer it will get you out of the foreclosure process. You will not get anything coming away from the sale, but it is better than letting the foreclosure play out and ruin your credit.

Another way to avoid a foreclosure is to sell your home to an investor. Selling your home to an investor that specializes in helping you avoid foreclosure will get your home sold quickly. Not only that, but in many cases you can come away from the sale with some extra money to take care of other needs that you have.

If you are facing an upcoming foreclosure, the best option at that point is to sell your home quickly. Find yourself a home investor that specializes in your immediate need. The sooner you can eliminate the foreclosure process, the sooner you can get your life and finances back on track.