Homeowners facing foreclosure is at an all time epidemic. As a mortgage lender, I have seen loan applications deteriorate further and further as the months have gone by. Today, it seems that 1 out of 5 loan applications, which come across my desk are either in foreclosure or are teetering with multiple late payments on the mortgage, or have a skyrocketing rate adjustment of which they are unable to get out of. I have close friends who are otherwise successful business people, currently facing this situation, it almost seems to come out of nowhere. I have had people tell me that time moves so fast when this happens, that before you know it 6 months has come and gone, and you have no where to go. There are financial tools and resources that can get you out of this situation and we are currently finalizing a few resources to help homeowners get their lives back in order.
In the mean time we are asking anyone who cares to share, to tell us a little bit about their situation and what kind of plans they have to get out of this mess. Or, if you know someone or have experienced this situation in the past, please share your experience and solution. This will not only help someone else that might be going through the foreclosure process, but help me to provide alternative solutions that my associates and I may have overlooked.
