2008 saw the greatest increase in personal bankruptcy since the bankruptcy laws were reformed in 2005 (33% according to MSN Money). Given the increase in the number of foreclosures, it was to be expected in that a bankruptcy is often a homeowners only option when faced with overwhelming debts, a mortgage shortage, or job loss. A confirmation of the connection of record foreclosures to record bankruptcies is the fact that 3 of the top 4 states for increased bankruptcies are also in the top 4 states affected by foreclosures; California, Florida, and Nevada.
Bankruptcy is not the end of the world. In fact, for many filing bankruptcy can be a relief. It means an end to outstanding debts, no more collection calls, reduced stress, and a chance to start over. I am not encouraging you to go our and file for bankruptcy to get rid of your problems. It is a huge decision and requires serious thought because it is certainly a mark that will stick with you forever even though it will eventually come off of your credit report.
Many ask the question "if they will ever be able to buy a home again?" and the answer is absolutely. It won't be the next day or even the next month or the next few years before a bank will underwrite their loan, but there are several options for those that have filed for bankruptcy to get into a home. A great resource for bankruptcy recovery is The Bankruptcy Mortgage Book, which is an A to Z guide to getting a mortgage after bankruptcy.
If you have not filed for bankruptcy yet, I strongly encourage you to do research some bankruptcy information resources online before you do.
These are challenging times indeed, but I have full confidence that as a nation we will weather this storm as we have in times past. My only hope is that we all learn from this and become better at saving and not living on credit or beyond our means.
Showing posts with label mortgage after bankruptcy. Show all posts
Showing posts with label mortgage after bankruptcy. Show all posts
Saturday, March 28, 2009
Thursday, November 01, 2007
Foreclosures up over 100%, what this means to you
According to RealtyTrac, foreclosures are up 100.1% over the period of July to September of last year. So what does this mean to you? You may find yourself in one of several positions:
1. You own your home, have a great mortgage, with no desire to move. You are safe - Congratulations!
2. You may be one of the many people who are struggling to keep their home. You may owe more than your home is worth, due to the decline in the market, and if so, you still have options, but you may not like them. Some people are being forced to move in the most extreme situations, but there are also companies that will help you get back on track by making you loans against your equity, or helping you negotiate a workout with your current lender. If this is you, time is critical and you need to act now. Don't ignore the problem it wont go away on it's own. If you want to speak with a foreclosure consultant, visit this page and fill out the form: http://www.atozlender.com/stop-foreclosure.cfm.
3. Maybe you are looking to buy a home. This may be a good time to pick up a deal. My advice is don't pay full price, as the market certainly isn't headed up anytime soon. If you need to find a qualified real estate agent to help you, visit our real estate center. You can also check out our foreclosure real estate division to find out how to purchase deeply discounted bank owned properties.
4. Perhaps you are a real estate investor. If you are a veteran investor, then you are enjoying the market. If you want to connect with us to help our clients seeking buyouts, then contact us.
5. Perhaps you are a real estate agent struggling to keep your business afloat. We have several people contacting us DAILY for assistance with buying and selling homes. Contact us to join our real estate agent network, so we can help you learn how to make the best of this market.
6. Maybe you can't find financing due to the demise of so many mortgage lenders. With over a decade of experience, we have lots of connections and offer a wide range of mortgage lending products. If you are struggling with your credit scores being low, this book may be of assistance to you. The Bankruptcy Mortgage Book was written to help people that have had a bankruptcy or other credit challenge. Whether you have had a bankruptcy or not, you can benefit from the advice in this book and use it to improve your credit scores and increase your changes of getting your loan approved.
I know that was long, but I am sure you found yourself in one of those categories. If I missed someone, please contact me and let me know how I can help you.
Until next time...
Anthony
1. You own your home, have a great mortgage, with no desire to move. You are safe - Congratulations!
2. You may be one of the many people who are struggling to keep their home. You may owe more than your home is worth, due to the decline in the market, and if so, you still have options, but you may not like them. Some people are being forced to move in the most extreme situations, but there are also companies that will help you get back on track by making you loans against your equity, or helping you negotiate a workout with your current lender. If this is you, time is critical and you need to act now. Don't ignore the problem it wont go away on it's own. If you want to speak with a foreclosure consultant, visit this page and fill out the form: http://www.atozlender.com/stop-foreclosure.cfm.
3. Maybe you are looking to buy a home. This may be a good time to pick up a deal. My advice is don't pay full price, as the market certainly isn't headed up anytime soon. If you need to find a qualified real estate agent to help you, visit our real estate center. You can also check out our foreclosure real estate division to find out how to purchase deeply discounted bank owned properties.
4. Perhaps you are a real estate investor. If you are a veteran investor, then you are enjoying the market. If you want to connect with us to help our clients seeking buyouts, then contact us.
5. Perhaps you are a real estate agent struggling to keep your business afloat. We have several people contacting us DAILY for assistance with buying and selling homes. Contact us to join our real estate agent network, so we can help you learn how to make the best of this market.
6. Maybe you can't find financing due to the demise of so many mortgage lenders. With over a decade of experience, we have lots of connections and offer a wide range of mortgage lending products. If you are struggling with your credit scores being low, this book may be of assistance to you. The Bankruptcy Mortgage Book was written to help people that have had a bankruptcy or other credit challenge. Whether you have had a bankruptcy or not, you can benefit from the advice in this book and use it to improve your credit scores and increase your changes of getting your loan approved.
I know that was long, but I am sure you found yourself in one of those categories. If I missed someone, please contact me and let me know how I can help you.
Until next time...
Anthony
Thursday, August 03, 2006
My New Book is coming out this Fall
I am pleased to announce that I am releasing my first book this fall (currently scheduled for October). I have written a book based on my experiences helping those who have had a bankruptcy or other financial challenge, overcome significant hurdles and become homeowners.
Right now, you can pre-order this book at a discounted rate of $25.00.
Visit the book sales site for more information:
http://www.bankruptcymortgagebook.com
When you pre-order, you will receive a 60 Day Action Plan to help you get on the right track to getting a mortgage approval after having a bankruptcy. You will also get a FREE no-obligation consultation with me to give you the personal attention that we all desire to make this transition as smooth as possible.
If you know anyone who has had a financial challenge such as a bankruptcy, please direct them to the site as well.
Thanks in advance,
Anthony
Right now, you can pre-order this book at a discounted rate of $25.00.
Visit the book sales site for more information:
http://www.bankruptcymortgagebook.com
When you pre-order, you will receive a 60 Day Action Plan to help you get on the right track to getting a mortgage approval after having a bankruptcy. You will also get a FREE no-obligation consultation with me to give you the personal attention that we all desire to make this transition as smooth as possible.
If you know anyone who has had a financial challenge such as a bankruptcy, please direct them to the site as well.
Thanks in advance,
Anthony
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