Stop Foreclosure - Foreclosure Process

need help?

this is nothing more than legalized robbery.

To all people who are in the process or potential going to foreclosure need to know this:

1. The current value of your home
2. If you are are upside down (most people are because of the drop in value)
3. Talk to your banks because as of 10/01/2008 you can refinance 90% of current value (base on a new appraisal)
4. Your new payment will be much smaller compare to right now because your new loan will be about 60% of the current loan.

5. FHA will guarantee this new type of loan.

You forgot to mention that to refinance into that program, you need 4% of the loan amount at closing for prepaid PMI insurance and the origination fee. If you are facing foreclosure and can't afford your current payment. What is the likelyhood you have 4% in the bank?

I agree with everybody below but if you want more information on Foreclosure's, Predatory Lending and Servicing check out my channel

Good info, Holla at us...

foreclosure should be abolished and illegal. its inhumane no one should be able to kick you out your home for any reason

Very easy to understand foreclosure process. For people like us who have never thought about this subject to be considered it is very helpful. Actually, we visited web site after watching this video and there are a lot of free info. Thanks, good video.

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