don’t lose sleep wondering what is foreclosure

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Don’t Lose Sleep

Wondering

What Is Foreclosure

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During this holiday season, foreclosure rates remain at historic highs. There are

currently millions of homeowners who are having a hard time feeling any sort of

holiday cheer due to living under the looming threat of house foreclosure.

Foreclosure is no longer just an occasional sad story you hear, it seems to be

something that people discuss any time mortgages or loans or the economy is

mentioned. But do we really have a good understanding of what is foreclosure?

Foreclosure is a legal process where the property of a borrower is taken possession

of by a lien holder, which is usually a lender, after the borrower has fallen behind on

their loan payments and their mortgage loan has gone into default. Once the house

foreclosure is complete, it becomes the lender’s property.






Then the lender is able to sell the property and keep any proceeds in order to pay off its mortgage and any legal costs that have been incurred.

If your house is already in foreclosure, you do have options that you can take advantage of to stop foreclosure and save your home. If you have had dealing with predatory lenders such as Bank of America, Countrywide, JP Morgan Chase, US Bank, GMAC, Wells Fargo or others, a securitization audit may be a good option for you. A securitization audit will examine your loan documents and look for issues such as robo signing or other issues.

Just having a securitization audit as evidence that the bank was involved in an illegal foreclosure can make the bank more willing to negotiate terms and stop foreclosure proceedings. These audits can also be solid evidence in trying to obtain a permanent loan modification.





Another option, known as a forensic loan audit can also be an option for you if you

are struggling to make payments and are attempting to get a mortgage modification

from your bank. With a forensic loan audit, your loan will be examined for

irregularities at both the state and federal levels. If any such violations are found, the

doors are open to pursue litigation against the banks.

Most lenders, especially predatory lenders, would much rather negotiate a mortgage

modification than be forced to pay back thousands in fees and interest by the courts.

Once you understand exactly what is foreclosure, it doesn’t have to be as scary as it

seems. It will still be a very stressful emotional ordeal to face, but you should know

that you do have options other than simply giving up and walking away from your

home.






This is why if you need foreclosure help, you should not hesitate to contact TilaSolutions to give you the foreclosure help you need. For over a decade, TilaSolutions has been looking out for the homeowner with their forensic loan audits and securitization audits.

f you need help stopping foreclosure, a Tila Solutions Consultant is available by telephone at (702) 508-0335. Or you can visit the Tila Solutions website at help loan.







don’t lose sleep wondering what is foreclosure

Economy & Finance