Foreclosure begins when something really bad happens - loss of employment, the passing of a family member, illness, catastrophe, divorce, drug problem, separation, family crisis, gambling, etc. A family is on the street and family members start to blame each other. Meanwhile, lenders place borrowers in the hands of their collection departments and they are relentless, calling at all hours, both at home and at work. Some sub-prime lenders even call neighbors. A few "A" lenders may be helpful and offer to review your file to see if a program can help.

"Typically, we discover that the banks 'policies' differ from what the law allows for. Since most people are new to the foreclosure process they can not make their best case. It appears that banks take advantage of the fact that most homeowners are unaware of the process."

Unfortunately, for the most part, homeowners are unaware of the guidelines for these unfamiliar programs and tell lenders what they think they want to hear.

Since foreclosures are legal issues printed in local newspapers, homeowners will typically find some interesting folks drawn to their 'foreclosure opportunity'.

Fifty or more attorneys write to say bankruptcy is the only way to save their home. Forget that bankruptcies commonly fail, as homeowners are required to pay all creditors, all those old IRS taxes, medical bills and credit cards long-forgotten.

Homeowners need to understand that their credit will be damaged for the next 10 years since both a foreclosure and a bankruptcy will appear on them.

Home owners need trustworthy professionals. Most homeowners are able to solve their financial troubles in a short time. They frequently can handle their bills but are $10,000 to $30,000 behind on their home loan and their lender won't take partial payments. Often times, they have saved some money from the nonpayment but still are losing their home. We find that if the hardship that caused the mortgage delinquency has been resolved and with a professionally designed plan of action, it is very possible for us to stop foreclosure.

Lenders may offer a solution directly to a home owner but it is designed with the banks best interest in mind and frequently requires borrowers to meet impossible underwriting guidelines. Typically they approve plans that are outside a home owner's budget. "The trick is to force the lender to approve a plan that is in the best interest of the home owner and their ability to pay their mortgage".

So how can you stop the 1,000,000+ home foreclosures this year?

One at a time...

The answer for the majority of home owners is simple. "When people injure their foot they go to a foot specialist, when they are faced with legal matters they retain an attorney and they see a dentist for teeth care. The clear choice when confronted with a home foreclosure is to leverage the years of experience that a professional Loss Mitigation Specialist has". Not to mention the fact that this is the least stressful and most cost effective option. In fact, a good specialist will not charge for the first consultation, this will allow a homeowner the opportunity to see if they are candidates for the program. There are several options for a homeowner in foreclosure and a Loss Mitigation Specialist will uncover their best choice. Their vast understanding and skill set typically help home owners out of foreclosure 98% off the time. Perhaps some homeowners have enough equity to do a foreclosure bail out loan. Others may need the services of a real estate company that can work to sell a home in a timely manner to avoid foreclosure. Most homeowners are in a position to set up a professionally designed plan to stop the current foreclosure process.

The goal is to come out of the foreclosure as fast as possible and within a short time refinance with a "B/C" loan and this will improve your credit. Lenders can lend from 80 to 90 percent of a homes value once the foreclosure has been resolved. Within a year, home owners often discover they are qualified for an "A" loan once their credit has improved.

Act as quicklyas possible and there are ways to 'buy' yourself time, it is better to rectify the foreclosure process as early in the process as possible.