Welcome to Pre Foreclosure Guide
Pre Foreclosure Homes In Texas Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Getting Started : Example of Pre Foreclosure Hardship Letter
from:Often when homeowners fall behind on their monthly or bi-monthly mortgage payments they tend to want to avoid communicating with the lender. In reality, communication is key and using the example of pre foreclosure hardship letter below may be just the tool to help your lender understand your current financial situation and what you need to be able to work with the lender. The example of pre foreclosure hardship letter provided below is just a template, you will need to add the specific details to help the lender understand your perspective on the situations that have lend to this point.
Typically when using the example of pre foreclosure hardship letter given below you may have additional issues that have led to the financial problem besides the one provided in the example. These may include:
• Death of a spouse or immediate family member
• Health problems and medical expenses
• High interest rates
• Personal tragedy other than the ones listed above
Example of Pre Foreclosure Hardship Letter
Your name and address
Today's Date
RE: Loan number
Dear XYZ Lender,
My name is John Smith and I have been living in the house I purchased on 12 Cotton Street, Anytown, USA for approximately 7 years. I purchased this house with your assistance on May 17, XXXX. Until March of this year I have been able to make all scheduled mortgage payments and I would like to explain why I have recently been unable to make the payments, despite my best efforts.
In March the company that I worked for went out of business, despite assurances earlier in the year that they would not be closing their doors. Rather abruptly in February we were given notice that as of March 1st the company would be no longer able to pay salaries. I immediately began looking for work in my field of expertise, however due to the specialized nature of my training it was very difficult to find employment at the same pay rate. Currently I am working two part time jobs, however my income is less than half of what it was when I was working full time. I have recently applied to two other companies in neighboring areas and am confident that I will be hired by one of the two. In addition my wife has returned to work on a part time basis, which has helped out with the household bills.
We are working with a credit counseling agency. Please find attached a budget sheet showing our income and household expenses, plus a proposed repayment plan for correcting our default payments on the mortgage. (Attach a detailed proposal). Our goal is to repay all payments skipped and make future payments on schedule.
I would be willing to discuss any options with you as we are sincere in wanting to correct this issue and continue to live in our home. Thank you for your consideration.
Sincerely,
John and Mary Smith
Each example of pre foreclosure hardship letter is slightly different, but they key elements should include a history of your good payment record, the reasons the payments have been missed, as well as what you are doing to correct the situation.
Pre Foreclosure Homes In Texas News
Texas Firm Sues Calif. Homeowners With Foreclosed 2nd Mortgages - KQED (blog)
 KQED (blog) | Texas Firm Sues Calif. Homeowners With Foreclosed 2nd Mortgages KQED (blog) by Rick Jurgens, California Watch Adding new uncertainty in the state's ongoing mortgage crisis, a Texas company is aggressively pursuing hundreds of Californians to collect second-mortgage debt – on homes they've already lost through foreclosure. Texas firm targets Calif. homeowners with foreclosed 2nd mortgages Is Plano firm a vulture or a mortgage fraud fighter? Firm targets CA homeowners with foreclosed 2nd mortgages |
GreenPath Debt Solutions Takes Part In Government Housing Counseling Study - MarketWatch (press release)
GreenPath Debt Solutions Takes Part In Government Housing Counseling Study MarketWatch (press release) The US Department of Housing and Urban Development (HUD) recently released two reports on the impact of HUD-approved housing counseling for first-time homebuyers and those struggling to prevent foreclosure. In both studies, HUD found that the ... BRIEF: Projects BRAVO's Mortgage Counseling Services to Be Expanded |
Texas company targets foreclosed owners' second loans - San Francisco Chronicle
Texas company targets foreclosed owners' second loans San Francisco Chronicle Trejo had invested in properties in Merced and lost them all to foreclosure. Neither Abdelfattah nor Trejo is party to the class-action suit. Fraud or not? Consumer attorneys say that while many borrowers did overstate their incomes on applications, ... |
Sales of New Homes in U.S. Climb More Than Forecast: Economy - San Francisco Chronicle
Sales of New Homes in U.S. Climb More Than Forecast: Economy San Francisco Chronicle Values increased in every region, led by a 4 percent jump in the area that includes Texas and Louisiana. Bloomberg survey estimates for new-home sales, which are logged when contracts are signed, ranged from 325000 to 375000. |
Foreclosures up for latest month, down for year - San Antonio Express
Foreclosures up for latest month, down for year San Antonio Express ... Estate Center at Texas A&M, said it's possible that foreclosure postings could rise later this year. Many analysts say lenders have been delaying foreclosures but will start moving large numbers of distressed properties through the system soon. |