Time has almost taken a U turn from the times when financial institutions were running behind individuals to fund their dream of a home today people are running after those financial institutions to save their homes lest they foreclose the property due to non payment of the mortgage payments that have been overdue. The Scenario is not limited to a single area state or place but is widespread throughout the nation. People are searching for options to keep the homes they once bought for themselves to settle down. This all is a result of the easy credit that was once a reality in the booming economy. Real Estate was then considered as the most safe and most lucrative mode of investment. It was not only the average investor who is suffering even people known to have deep pockets have been the victims of this downfall.
There are numerous homeowners whose number runs into millions who are really fed up of the financial institution’s hounding and choose to walk away from their homes they once owned and prefer to give it back to the financial institution to settle their financial liabilities. This has been the trend in almost all parts of the country and across all strata of the society. The credit score of course gets hurt but the damage can be controlled with the help of Certified Forensic Loan Auditors.
Take care to check the type of foreclosure you are undergoing for example Non Judicial Foreclosures dont have to go through the state court system. The only thing you have to do is stop the payments to the lender and then they will initiate the foreclosure process for you if ever. There have been cases where home owners stopped payments and the financial institution was not really keen to take up the property. Another type of foreclosure could be the judicial foreclosure wherein the lender will act through the state court system and legal proceedings will be initiated through the defaulter.
There are some points to keep in mind once the foreclosure is evident. The home owner should exercise restraint and control tempers and not harm the property in any way as it could go against the home owner and could be used by the lender in the court of law. Until the banks descends and decides to take possession of the home the homeowner is held responsible for any tampering or destruction in the house. Even if the homeowner is not staying in the home he has to ensure complete safety of the premise/property.
We understand your forensic loan auditor needs and are specialized in the research and analysis needed to provide attorneys and loan modification companies. A Certified Forensic Loan Auditors and Andrew Lehman can easily meet your Forensic Loan Audit needs. Feel free to get more information on CFLA Andrew Lehman at http://www.certifiedforensicloanauditors.com
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