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Friday, 2-Dec-2011 13:35 Email | Share | | Bookmark
Are You At Risk of a House Foreclosure?

[code]It seems like every day we hear more and more stories about how millions of Americans are trying to avoid a house foreclosure and keep from losing their homes. House foreclosure rates are continuing to rise and people do not know how to get the help they need to stop foreclosure. But how often to people really know exactly what is foreclosure

Foreclosure is a legal process where the property of a borrower is taken possession of by a lien holder, which in nearly all cases is a bank. This transfer of ownership occurs after the borrower has fallen behind on their loan payments and their mortgage loan has gone into default. Once the mortgage foreclosures have been completed, the property then is owned completely by the lender, who will then sell the property and keep any proceeds in order to pay off its mortgage and any legal costs that have been incurred.

Once you have begun to fall behind on your mortgage payments, it can feel like there is no way back. However, if you are at risk of a house foreclosure
you have a number of ways to stop a foreclosure from happening before it even begins. One option taken by many homeowners who need foreclosure help is to seek out a loan modification on their loan.

Loan modifications, such as the HAMP program introduced by the Obama administration, are safeguards that have been put in place to try and stop foreclosure from happening before a loan goes into default. Under the HAMP guidelines, a borrower can approach their lender and ask for a mortgage modification that will change the terms of their loan, and bring their monthly payment down to an amount that is more affordable. Any missed payments, penalties, or other fees can be included into these loan modifications to help bring the homeowner current.

By having a forensic loan audit performed on your loan documents, you can gain leverage over your bank and convince them to give you the mortgage modification that you deserve. With a forensic loan audit, your loan will be examined for irregularities at both the state and federal levels. If you are working with a loan modification attorney, a forensic loan audit could be just what you need to get the banks to see things your way.

This is why if you need foreclosure help or have been trying in vain to get your loan mod approved, you should not hesitate to contact Tila Solutions to give you the foreclosure help you need. For over a decade, Tila Solutions has been looking out for the homeowner with their forensic loan audits and securitization audits. If 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


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