Cover image for The foreclosure survival guide : keep your house or walk away with money in your pocket
The foreclosure survival guide : keep your house or walk away with money in your pocket
The foreclosure survival guide : keep your house or walk away with money in your pocket
Loftsgordon, Amy, author.
Personal Author:
6th edition.
Publication Information:
Berkeley, CA : Nolo, Law for All, 2017.

Physical Description:
324 pages ; 23 cm
"Facing foreclosure? Put together a plan. Take action. When you're in foreclosure, there's no time to waste. You need to know your options so you can do what's right for you and your family now. But things have changed since the Great Recession. The Foreclosure Survival Guide has up-to-date developments about: the foreclosure process, the 120-day foreclosure waiting period (your most important tool), and new tax consequences associated with short sales and deeds in lieu of foreclosure. After reading the practical advice in [this book], you'll have the confidence that comes with knowing that you're taking the right steps. You'll learn how to: determine whether you should keep your house, find loan workout programs that will help you keep your home, apply for a loan workout with your lender, bring your loan current in Chapter 13 bankruptcy, and avoid unnecessary costs by filing for Chapter 7 bankruptcy (if you can't stay in your home). Finally, [this book] provides you with the support you'll need throughout the process by posting significant developments on the online legal update page."
General Note:
"Latest loan workout programs"--Cover.

"Includes state-specific foreclosure laws"--Cover.

"This book comes with lots of free online resources"--First page inside book.

Includes index.
Your foreclosure companion -- Foreclosure: the big picture. What to expect ; Your options: an overview ; How you can stay in your house payment free ; Why foreclosure doesn't have to be so bad ; Don't get scammed by a foreclosure "rescue" company ; Beware of property preservation companies -- Foreclosure nuts and bolts. How much time you'll have to respond ; In or out of court? ; Deficiency judgments: will you still owe money after the foreclosure? ; Taxes -- Can you keep your house? should you? The emotional part of foreclosure ; The economics of foreclosure: what you need to know ; When it makes sense to keep your house ; When it makes sense to give up your house -- Working out a way to avoid foreclosure. Do you have enough time to work out an alternative to foreclosure? ; Using a HUD-approved housing counselor ; The making home affordable program ; Basic workout options ; Workouts for government-backed mortgages ; Foreclosure avoidance mediation programs ; Hardest hit fund programs ; Special protections for service members on active duty -- How chapter 13 bankruptcy can delay or stop foreclosure. Using chapter 13 to keep your house ; An overview of the chapter 13 bankruptcy process ; Coming up with a repayment plan ; Will you need a lawyer? -- How chapter 7 bankruptcy can delay or stop foreclosure. How chapter 7 bankruptcy helps you ; Using chapter 7 bankruptcy to keep your house ; Using chapter 7 bankruptcy to delay a foreclosure sale in good faith ; The chapter 7 bankruptcy process: an overview ; Do you qualify for chapter 7 bankruptcy? ; Will you need a lawyer? -- Fighting foreclosure in court. How long can you delay the sale of your house? ; When it may be worth fighting ; When you can sue for money ; How to fight a foreclosure -- If you decide to leave your house. Let the foreclosure proceed ; Be community minded ; Be wary of leaving the home before the foreclosure sale ; Sell the house in a short sale ; Offer the lender a deed in lieu of foreclosure ; Avoiding deficiency judgments ; Income tax liability for deficiencies -- How long can you stay in your house for free? When you miss your first payment ; Before foreclosure starts, you'll likely get a breach letter ; After you receive a formal notice of foreclosure ; The redemption period ; After the sale ; After you get a notice to leave -- Resources beyond the book. HUD-approved housing counselors ; Real estate brokers ; Mortgage brokers ; Lawyers ; Foreclosure websites ; Books ; Looking up foreclosure statutes -- Glossary -- Appendix: State information.
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