Foreclosure Product Reviews

by John Ash

Real estate foreclosure is the legal process by which the lender can repossess or take over the property which he had lent, on the grounds of failure to pay dues. When such an action is taken by a lender, one would have to vacate the property and or pay dues to the lender for the same.

What leads to foreclosures?

Ignorance is what leads to the process of real estate foreclosures generally. One cannot afford to ignore the letters from the lender. Due care must be taken to keep the lender informed about your situation if you are unable to pay the rent. Generally, the lender would require you to produce certain financial documents as well such as monthly income and expenses so that they can verify your status and give you sufficient time to repay them. However, failure to do all these could lead to real estate foreclosure.

What steps can one take to best avoid foreclosures?

The following steps can be taken by most individuals in order to avoid foreclosure of property:

1. Avoiding ignorance and communicating with the lender is a must. This is the primary step and one that cannot be over emphasized. A person should always be in good communication with the owner of the land and should not ignore any communication there off.

2. Special Forbearance: Once you communicate with the lender, he may be able to devise a special repayment plan depending on your financial situation. Such a plan could provide a temporary reduction or suspension of the payment and could provide you with vital time to obtain the money. Lenders generally provide this provision if there is a sudden increase in expenses or a sharp decrease in income.

3. Modification of Mortgage: This involves the refinance of the debt, which may or may not be accompanied by the extension of the term for the mortgage. This could help you recover by reducing the payments which are made monthly to a more affordable level. This is a step, which one should take generally once they have recovered from the financial crisis and can afford the newer payment terms.

4. Partial Claim: In certain situations, it is possible for your lender to file for a partial claim under which the US Department of Housing and Urban Development would pay the lender the amount required to bring the mortgage to current. This is done when you execute a promissory note. A lien will then be placed on your property until the promissory note is paid in full. The advantage is that the promissory note is free of interest and is generally due when you pay off the first mortgage or sell the property- giving you sufficient time for recovery.

5. Pre-foreclosure sale: In certain situations, it is possible for you to sell off your property for an amount, which is less than the amount required for payment of the mortgage loan. This would give you the money to pay off a part of the mortgage loan.

As a last resort you could use a “Deed-in-lieu of foreclosure” by which you give back the property in order to avoid real estate foreclosure and therefore save your credit rating.

Real estate foreclosure can be quite hurtful; however knowing the above methods to avoid them can save you the grief of getting kicked out of your home.

John is a contributor to a Connecticut Homes for Sale and Articles about Real Estate. http://connecticutrealestateadvice.com and http://articlesaboutit.com

Article Source: How to avoid Real Estate Foreclosures

Richard A. Stusek is an owner of Safe Home Solutions loss mitigation services in Michigan who put his expertise helping home owners negotiate with lenders into the book, “The DYI Foreclosure Guide” in which he teaches you how to either learn how to fix your mortgage, negotiate a short sale or simply walk away. The guide is for people who are facing foreclosure or in foreclosure, those concerned about their lender suing for mortgage balance, those attempting to work their mortgage problems out themselves, those with an IRS tax lien on their real estate, etc.

It is also for people wanting to sell but not getting any offers.

The book is a little expensive compared to other such guides, but there is a wonderful guarantee: if you’re not satisfied within the first 60 days of download your book for any reason, he will refund your purchase price.

He also has some very inviting bonuses (as of this writing, they are listed as “limited time bonuses”.) One is a guide on how to appraise your own home, which I have seen on the Internet selling for $47. All in all, “The DYI Foreclosure Guide” seems a very good value.

As always, If you’re already familiar with The DYI Foreclosure Guide or if you buy it soon, please post your experiences here so others can benefit from them. Thank you.

GovernmentAuctions.org is one of the better designed foreclosure sites I’ve been to in awhile. It’s more comprehensive, professionally done, detailed and accessible than most. In addition to foreclosed properties, they also have sections for seized automobiles, bankruptcy auctions, unclaimed money and many more – far too many for me to list here.

I did click on the Federal Government Real Estate Auctions section and it took me to a chart of all 50 states, Guam, Puerto Rico, Canada and a few other locations. It lists how many properties are in each state, so I clicked on California, which had thirty-one. It gave a listing of each property and the city it was in, plus number of bedrooms and so on. Of course, if I wanted to get all the information, I’d have to be a member.

The membership for access to everything listed on GovernmentAuctions.org is $39.95 per year. Not bad for how much different information you’d get. They accept PayPal and major credit cards, but surprisingly enough, I didn’t see anything about a money-back guarantee. Not that they don’t have one, I just didn’t see it.

One of the things I do like about GovernmentAuctions.org is, in the FAQ section, they say that, yes, it is possible to buy a car at a government auction for $100.00, but, no, it’s not going to be a brand new Mercedes Benz. There are a few other comments along those lines that made me feel like they’re not just some fly-by-night company.

GovernmentAuctions.org is located in New Jersey. They supply their mailing address, toll free phone number, direct number and fax line along with four or five email addresses. At the bottom of the page the copyright is listed as 2003-2004.

My recommendation is that you visit the site yourself because there’s a little something for everyone and it shouldn’t take you long to find what you’re looking for. You can go there directly by clicking here.

Please let me and others know what you think by leaving a comment here, whether you sign up for a membership or not. I’m sure it would be greatly appreciated by all. I know I would be happy if you did. Thank you for visiting my blog. Best wishes to you.

Regina P. Brown is a well respected real estate agent on the California Central Coast. Her eBook, Stop Foreclosure Fast: Solutions To Save Your House is filled with good information regarding foreclosures including the process in different states, what you can expect from your lender, what you can do to avoid losing your house, what professionals you’ll need and how to find them.

She lists different techniques to save your house with both short-term and long-term solutions and the best ways to give up your house if that’s the best thing to do and has a fairly exhaustive glossary of the technical terms.

The presentation of R. P. Brown’s eBook Stop Foreclosure Fast: Solutions To Save Your House is not as professional as it might be, but the information in it seems sound. The price seems a bit higher than other Stop Foreclosure products and she doesn’t offer a guarantee, but, at least at the moment is offering a free 30 minute consultation with her to answer any questions in person for everyone who buys the book, which makes it well worth it.

If you’d like to look at the web page and/or buy a copy of Stop Foreclosure Fast: Solutions To Save Your House, click here.

And, as always, if you have personal experience of this product, I encourage you to post your thoughts.

Stop Foreclosure – Stop the Banks – Know Your Options is not a very well-written sales letter, but I guess they’re not selling style. What they are selling are remedies and techniques to get your home out of foreclosure. Methods they say have been hidden from “us” for over 75 years.

Stop Foreclosure – Stop the Banks – Know Your Options, by D. Loren Cossak, says this book will show you the way to challenge the bank’s legal authority to foreclose on your home. He doesn’t say how he got this information, just that it’s so hard to get that even your attorney won’t tell you.

This system will show you how to get out of foreclosure without borrowing any money and how to use bankruptcy to your advantage. In Stop Foreclosure – Stop the Banks – Know Your Options, you will learn how to keep the banks at bay and get more breathing room. While it is not a cure all for all of those in foreclosure, says Cossak, it could lead to saving many homes.

D. Loren does not have any testimonials on his site nor does he offer any kind of guarantee but, for the price of $87.00, he will throw in six free bonuses and you can download all of the information in minutes.  I don’t know if I’d want to spend $87.00 on a crap shoot, but  if you would like to go directly to his site to decide for yourself, click here.  I would feel  much better if there was a money-back guarantee.

I hope you’ve found this article useful and please feel free to comment if you have already used this product or plan on using it soon. I appreciate all feedback. Thank you.

Although the web site for Jared Severe’s “Short Sale Secrets of the Wealthy” deals mostly with short sales, the full product being offered goes well beyond that in its information about how to profit from foreclosures. In fact, with all the bonuses offered when purchasing this e-book, what you end up with is a full course that Mr. Severe calls “Investors Complete Foreclosure Home Study Package”.

According to the site, Short Sale Secrets of the Wealthy teaches exactly how the short sales process works, the proper way of negotiating a short sale with the bank or lender and how to approach and communicate with the owner. You will also learn what forms are needed and how to fill them out. And he includes the forms themselves.

The site is filled with testimonials from students, many of whom say they had bought many short sale and foreclosure products for much more money that didn’t have the complete information that Short Sale Secrets of the Wealthy had.

The price for Short Sale Secrets of the Wealthy is very low, only $37 at the time of this posting (the site says he can’t guarantee the price will stay that low) and he offers a full 60 full money back guarantee!

All in all Short Sale Secrets of the Wealthy seems a must buy for anyone interested in foreclosures and short sales.

To go directly to the site, click here.

As always, If you’re already familiar with Short Sale Secrets of the Wealthy or Investors Complete Foreclosure Home Study Package or if you buy it soon, please post your experiences here so others can benefit from them. Thank you.

ForeclosurePASS is not a product or a course per se, but a membership site that shows you how to find auctions in your area that sell houses for as little as 10% of their market value. It says the banks and courts are full of foreclosed mortgages, abandoned properties, seized houses and so on that they want to get rid of.

Anyone can do it, they claim, regardless of age (I imagine you have to be a legal adult), education, gender, race and location. With ForeclosurePASS, you do not need a special license and you can do it in your spare time in your home, unless of course, it’s been seized!

There are a few testimonials on the site, but I don’t see a guarantee. The membership fee is a one-time payment that gives you access for life and ForeclosurePASS is updated daily by their staff, although I don’t know how many staff there are.

ForeclosurePASS provides a guide that shows you the process on how to bid on real estate at auctions. They say it’s very simple and they also provide tips and tricks from some seasoned veterans.

There a few Frequently Asked Questions on their site, like – Why doesn’t everyone buy their homes at auctions? Good question. They say it’s because this information is not readily available to the general public unless you go through sources such as ForeclosurePASS.

All in all, my thought is if they provide all the information and update it as often as they say, it’s not a bad investment if you want to make money by buying and selling the above mentioned properties, although I wish they’d offer a guarantee or a free trial period. Oh, well, it’s not that expensive, so it might be worth a shot.

I hope this review was helpful to you and if you want to go to ForeclosurePASS site directly, click here. If you’re already one of their members or sign up soon, please post your experiences here so others can benefit from them. Thank you.

“The Fight of Your Life, How to Beat the Foreclosure Demons, Smart Solutions for Saving Your Home” by Paul C. Matoon presents several options to make informed choices when faced with foreclosure, helps you make decisions not based on fear and examines what to avoid in the multiple “we buy houses” scams you will encounter as soon as you get close to foreclosure.

It starts with a series of questions to ask yourself to help you make smart decisions, such as do you have equity in your home but cannot afford your mortgage? Do consumer debts, not mortgage payments, cause your shortfall? Are you nearing retirement with the prospect of losing your home? Do you owe more than your home is worth? Do you really want to save your home?

Depending on your answers to these and other questions, How to Beat the Foreclosure Demons then presents various strategies to investigate, such as trying to get a new loan, considering bankruptcy, loan modifications, reverse mortgages, whether you should you sell your home to preserve your equity or walk away because you have negative equity and many others.

Although there is no guarantee or testimonials listed on the site, the book is filled with what seems like powerful information about your options when faced with foreclosure.

To read more about How to Beat the Foreclosure Demons or order a copy, click here.

And, as always, if you do buy this book or already have experience with it, feel free to leave a comment.

Foreclosure Profits Now claims to be able to put money in your pocket in thirty days. How much? Author Matthew Griffin doesn’t guarantee that because he says it’s up to you and what you do with his “simple system”.

He says you can use his system even if you have bad credit or no credit and with no money down. Of course, there are more opportunities if you have some money and good credit, but that’s not necessary. Matthew says you can even use Foreclosure Profits Now while sitting at home in your underwear! I say you should make sure your drapes are closed.

I don’t know how long he’s going to offer it, but Matthew is offering $100.00 off of the full retail price. He calls it his “First Come, First Served Special”. You also get over $800.00 worth of related bonus materials, including audio coaching and the contracts and forms you’ll need to get started, when you order Foreclosure Profits Now.

There is only one testimonial on the page, but there is an eight-week money-back guarantee, and you can order Foreclosure Profits Now using your credit cards or PayPal. There are also a few Frequently Asked Questions on the page, such as “Do I need to have some sort of license to invest in real estate?”

To go directly to Matthews site and read for yourself, click here.

Please feel free to add comments suggestions and your experience if you’ve already purchased and used Foreclosure Profits Now or plan on doing so. Thank you and I hope this blog was helpful.

ForeclosureMagic.com is a subscription based service that provides nationwide foreclosure listings. The listings also include pre-foreclosures, REOs (real estate company owned properties) and other bargain homes. According to the site, the listings are gathered from lenders and government agencies.

If you already know how to profit from buying and reselling foreclosures, ForeclosureMagic.com seems to have a wealth of information on properties available, although their database is very clunky. For example, on a random search in California, I clicked on the “details” link for a pre-foreclosure property in Brentwood, CA in Los Angeles County and it brought me to a listing in Bakersfield, which is in an entirely different county. The “details” link for a pre-foreclosure in Weldon, in Kern County, CA brought me to a listing in Boca Raton, FL!

Also, nowhere on the site does it say how often the database is updated besides that it is “a most up-to-date and comprehensive inventory of foreclosure listings” and I find no guarantee besides being able to cancel your membership at any time.

ForeclosureMagic.com is a division of Cyweb Holdings, Inc., a company that has several web-based information and e-commerce services geared toward auction business clients and the general public.

To register for ForeclosureMagic.com the first month costs $39.80. Your subscription will be automatically renewed at $9.95 per week, charged monthly (which comes to $39.80 per month) until you cancel your subscription, which can be done at any time.

To visit and register with the site, click here.

And please feel free to come back and leave comments about your experience of ForeclosureMagic.com.

How To Build Massive Wealth With Foreclosures is a simple formula that will guide you through the process of buying foreclosed homes and flipping them for profit, so says author, Jeffrey Ringold, who has bought and sold over $12,000,000.00 in real estate in his short career. He’s only 27.

One thing I like is Jeffrey says he won’t guarantee that you will make $250,000.00 per year or some other arbitrary number. He says he doesn’t know your skills, talents, background nor abilities. It’s all hype to make such a guarantee. Exactly. If you’re not a go-getter, it ain’t going to get to you!

Jeffrey also posts his phone number which he says has been the same number he’s been using for seven years and if he’s there, he’ll answer it personally. I called the number and got a recording of who was probably him.

How To Build Massive Wealth With Foreclosures also shows you how to buy a fixer-upper and how to be ahead of your competition when foreclosures become available. There are plenty of testimonial with full names, pictures, web site addresses and audio. These people have some pretty interesting things to say.

Since How To Build Massive Wealth With Foreclosures is a formula, Jeffrey says anyone can follow it, but the main thing, like any other formula, is not to deviate from it. If you stick to it, you should reap rewards. Again, he doesn’t guarantee that.

One thing Jeffrey does guarantee though is the product. He offers a full 100% money back guarantee if you’re not completely satisfied for a full 60days.

When you buy How To Build Massive Wealth With Foreclosures, Jeffrey throws in a whole bunch of free bonuses that are too many for me to list (I could, I just don’t want to!), but if you want to see them, then click here

I encourage you to post comments, ideas and suggestions and, if you’re familiar with or have already purchased How To Build Massive Wealth With Foreclosures, please let us know what you think. Thanks.

Foreclosure Free Zone’s author, Bryan Ward, says you can get out of your foreclosure in nine days or less, sometimes using as little as two sheets of paper and one phone call. He says that most banks don’t want to foreclose on your home; they’re not in the home business.

You needn’t be afraid of foreclosure, Bryan tells you, and the worst thing to do is nothing. He says you can get out of foreclosure without damaging your credit or losing your car and so on. Foreclosure Free Zone is a simple step-by-step system that shows you how to avoid common mistakes and stop foreclosure in its tracks.

In Foreclosure Free Zone, Bryan tells you the two powerful secret words that will instantly give you the upper-hand with your bank. He says you can start shutting down your foreclosure problem in the next seven minutes.

For a limited time, Bryan is offering his book for only half price, plus he’s throwing in lots of free bonuses. Also, he’s offering a 100% money-back guarantee if you’re not completely satisfied.

All in all, given the guarantee, Foreclosure Free Zone seems like a good investment for someone who feels like the world is crashing in on them because of their impending foreclosure.

To get more information about this product, Click Here.

Please feel welcome to make any comments or suggestions. Thank you.