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| The Foreclosure Survival Guide: Keep Your House or Walk Away With Money in Your Pocket | 
 enlarge | Author: Stephen Elias
Publisher: NOLO
Category: Book
List Price: $21.99
Buy New: $12.00
You Save: $9.99 (45%)
Buy New/Used from $12.00
Avg. Customer Rating:  (42 reviews)
Sales Rank: 39095
Languages: English (Original Language), English (Unknown), English (Published)
Media: Paperback
Edition: 1
Number Of Items: 1
Pages: 250
Shipping Weight (lbs): 1
Dimensions (in): 8.8 x 6.5 x 0.8
ISBN: 1413309100
Dewey Decimal Number: 346.7304364
EAN: 9781413309102
ASIN: 1413309100
Publication Date: September 29, 2008
Availability: Usually ships in 1-2 business days
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| Editorial Reviews:
Product Description
Facing foreclosure? Know your options!
According to Harvard's Joint Center for Housing Studies, "the number of homeowners paying more than half their income on housing rocketed from 6.5 million in 2001 to 8.8 million in 2006... The number of homes entering foreclosure nearly doubled to 1.3 million in 2007 from about 660,000 in 2005."
If you're having trouble making your mortgage payments or are already in jeopardy of foreclosure, The Foreclosure Survival Guide compassionately gives you the practical information you need, step by step.
An essential tool for anyone at risk of foreclosure, The Foreclosure Survival Guide provides key information about:
mortgages, including adjustable rate mortgages (ARMs)
short sales
deeds in lieu of foreclosure
judicial and non-judicial foreclosure
credit counseling
liens, and
using bankruptcy to deal with foreclosure.
The Foreclosure Survival Guide gathers all the information Attorney Stephen R. Elias has used to help hundreds of clients over 30 years of practicing law and shows you how to deal with foreclosure.
Like many hardworking people facing foreclosure in this rough economy, you deserve answers to your pressing questions. Thorough and easy to understand, The Foreclosure Survival Guide can help you stay in your home or walk away with money in your pocket.
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| Customer Reviews: Read 37 more reviews...
 WHAT YOU NEED IF YOU HAVE THESE PROBLEMS! December 20, 2008
I am actually going thru or have gone thru several of these processes now. When I just couldn't continue to pay on this house, I have a rental property that I was told they were going to Foreclose on. But after reading this book, I requested a Deed in Lieu of Foreclosure. They suggested a Short Sale. But this book is very thorough in explaining the tax ramifications as well to each of these, which has allowed me to make a more intelligent move. In the middle of all this, I found a buyer who made a rediculous offer, but it has held up the whole process with the lender. They have now (after almost 3 weeks) turned down their offer, so I am back to square one. It is absolutely criminal what the lenders are doing to people like me caught in the middle. If this property crosses year end, I will again be liable for more taxes, utilities, and even dues assessment in the private community that this house is in, to the tune of $1000 + minimum dues! I can tell you that they are procrastinating doing anything, even though I call every week. This book is really a "Survival Guide" and I would be lost without it. Hope you find it as useful as me.
 Calm, clear-eyed advice December 9, 2008
Nolo is the ultimate layman's legal resource, both for the practicality of their advice and the clarity of their presentation. Foreclosure is not only complicated, but it's scary, especially in the context of losing your house and the disruption of your financial and personal life. Stephen Elias understands all of this and provides a clear blueprint for approaching a variety of foreclosure situations. There are several ways to approach foreclosure, ranging from a "workout" with your bank to the filing of bankruptcy. Elias gives you rules of thumb for which one to choose, and provides an introduction to the procedural steps involved. All of this is very helpful for getting your nerves unjangled and attaining the realization that what is happening to you is not the end of the world. After that, the practical advice contained in this book is invaluable. If you're facing this increasingly common occurrence, this is a great place to start.
Excellent Book November 29, 2008
The table of contents pretty much lays out what you should expect to find in this book. Considering the market this book is aimed at, it does a very good job of simplifying things for the average reader. It would be nice if some real-world examples were given in addition to the textbook procedures though. I have to imagine that the policies of some banks and other organization may stray from the rules laid-out here.
In all, it is an excellent starting point and resource for those who wish to find some simple answers to some very complicated questions.
Good advice on how to get the most of a bad situation! November 20, 2008
Tips to help you get your finances and your credit back on track. Attorney Stephen Elias, author of "The Foreclosure Survival Guide," shares his advice for people with low credit scores or who have recently undergone a foreclosure.
This book offers alot of advice and strategies on how to resolve a foreclosure situation in your favor and how to avoid all of the 3rd party non-lendor sponsored programs that make promises that have no prayer of ever being fulfilled.
This is the first book I have ever seen that offers straight forward plain language advice on how to engage a lender in negotiating with the borrower on a potential foreclosure and what the potential pitfalls of the variety of solutions that are out there.
NOTE: All lenders policies are different, one strategy will work for one specific lender may not work for another. There are many factors involved in situations on whether to forclose or take some other action.
Negotiations in good faith and getting to the right people on behalf of the lender seem to be a large part of the battle in working out a situation. Many lenders are balancing employees between home retention and loss mitigation to keep their regulators off of backs. In other words with a lender in that category, you need to be even more documentation conscious, because everything they do will to look like they are the good guy, especially when they did nothing to assist the borrower or even try.
Portfolio Lenders like ING and locally chartered FSB's that hold their own loans are good examples, with few exceptions. Big servicers like Countrywide, Wells Fargo and Bank of America are more likely to come up with a workable solution because they have dedicated large resources and authority to achieve speedy and cost effective resolutions.
This book helps determine how you are positioned and what your first and the subsequent steps are.
-WE
If you are thinking about foreclosure, read this first! November 2, 2008
There are a lot of people out there who are thinking about foreclosure right now. If you are one of them, you owe it to yourself to read this book first. There ARE consequences to walking away from a house and this book spells them out for you in great detail.
It also tells you when the consequences are worth enduring.
It covers the specific laws in each state and it is very up-to-date, even including a law that was just passed in October (although it was a bill at the time of writing).
The main thing you need to know is that if you call someone with an ad on TV to help you, that person plans to make money off of your foreclosure. And if you are foreclosing, that may be money you don't have. Also, they may recommend a course of action that nets them the most money, but is not the best course of action for you.
The book has none of that bias. Once they have your modest purchase price they are done trying to get money from you, so the authors lay out the pros and cons of each action and let you decide if you need to allow your home to be foreclosed on, or if bankruptcy is your option, or if there might be another option that is best for you.
At the very least, if you end up getting help from someone else you will be educated on the process and terminology and you will know what they are talking about.
I highly recommend investing a little reading if you are considering a life-changing event like this. Foreclosure is not as simple as handing over the keys to your house and walking away - and this books explains exactly what is involved to you.
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