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I bet you had no idea how many friends you had. I mean, recently your mailbox has been overflowing with letters and postcards from people telling you how they want to help you. Who are these people anyway? And how exactly are they going to help you? Makes you wonder right? To be sure, there are a number of different options for stopping home foreclosures in Utah, options that you should be aware of, you do need to do your research. Read the rest of this entry

The image that forms in our minds these days when we hear the words foreclosure or bankruptcy, and of people in that predicament is different than in times past.  There was a time when we would roll our eyes upon  hearing of people that could be so foolish to let their finances get totally out of control  and  end up in that situation.

Today not a day goes by that we don’t hear those words mentioned, as well as many others like short sale real estate, Bank owned property, etc. The financial crisis and the collapse of the economy along with the job market have made words like short sale real estate common place. Read the rest of this entry

Understanding Utah foreclosure law is critical if you are late making payments on your mortgage or your home is about to be foreclosed. Two foreclosure processes are recognized in the state of Utah: a judicial and a non-judicial process. How closely the foreclosure guidelines are followed is a determination made by the lender and its attorney. The Deed of Trust, more commonly referred to as a mortgage, is the primary instrument used in the non-judicial foreclosure process in Utah.

The non-judicial Utah foreclosure process consists of four steps: Read the rest of this entry

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Many questions arise  when faced with a looming foreclosure and the possible loss of your house. An important one is. How will all this affect my ability to buy another house again in the future? “I keep hearing about short sales is that a better solution?”

Before considering  the short sale of your home, you need to ask, “how will my credit be impacted?”

“Will I always have a bad credit score?”

Foreclosure and Credit Score  are linked, homeowners have indeed hurt their credit by missing  payments. Unfortunately, the higher the credit score you start with, the bigger hit your score will take. This has nothing to do with your creditworthiness, but with how the credit scoring system works. And honestly, foreclosure is definitely going to have a negative impact on your credit score, even doing a short sale will.  Read the rest of this entry

You can fix your credit!

Whether you have suffered a foreclosure or were able to short sale your house, your credit standing has been damaged. I know, some of the following suggestions are obvious. Some of these may be difficult to carry out if your problem is not enough money at the end of the month. Hopefully, you still have some of the money you saved from when you weren’t making mortgage payments, because the sooner  you begin applying this advice…well you know the rest.

Implement these as soon as you are able:

Pay bills in a timely manner: The easiest way to avoid blemishing your credit report with late payments is to know when your bills are due and pay them on time. Put them in a special place when they arrive. Even if your creditor offers a grace period (and many don’t), make an effort to pay your bills before the due date. Keeping accurate records of these dates ensures that you’ll never make a late payment. Read the rest of this entry

In a nutshell, The Utah short sale process involves the selling of a property for less than the amount owed to the lender(s). This essentially enables the homeowner to get out of a bad situation (i.e. foreclosure) without the need to come up with the entire mortgage balance or file for bankruptcy.

More often than not, the Utah short sale process can be implemented  some time between the beginning and end of the foreclosure process in Utah. It occurs when the mortgage owing would not be covered by the purchase price, and enables a buyer to buy the property regardless of this fact. Read the rest of this entry

It's never too late

The idea of living frugally is one not easily embraced in our society. Everywhere we turn we are accosted with the latest and greatest thing we must have. It would appear this great recession we are finding ourselves in may be a direct result of our never-ending quest to accumulate beyond our needs.

If you are facing a Utah foreclosure, is it too late to start thinking about a more frugal lifestyle? I don’t believe it’s ever too late.

We all need to learn to become more pragmatic in our approach to the way we use our money. Being frugal is something we sometimes associate with the very poor. Read the rest of this entry

You can be sure that the bad guys will find ever new ways to take advantage of a situation solely for their benefit. Making an already unfortunate situation worse for folks losing their homes and for the  people who legitimately want to help with the growing foreclosure crisis.

In the past few years it was the mortgage scams, we kept hearing about. Recently we  have heard plenty about being wary of people that ask for money upfront and/or of anyone asking that you sign a quit claim deed for  your property. Those are two of the more common they do bear repeating, because it may seem obvious to most of us, however there are people still falling for both. Just like the Nigerian Prince scam on the internet, people  fall for that one all the time in spite of the ridiculous  impossibility that this African Prince wants to include you in his fifteen million dollar inheritance.

I read an article recently which I want to share today, it mentions three new scams; one of them speaks specifically about short sales. This one came as  a surprise to me since a short sale, which is negotiating with Read the rest of this entry

There are a number of reasons why you may be looking to stopping your foreclosure here in Utah. Perhaps you are so far behind on your mortgage that you just don’t see any way to get back on top. Maybe you cringe every time you hear the telephone ring, fearing another uncomfortable conversation with your lender. This is an epidemic across the entire nation, and many reports have Utah sitting in the top five foreclosure states in the country. How to stop foreclosure in Utah.

Time is not on your side

Look around your neighborhood. There are bound to be other families in your exact same situation. Of course, while knowing you’re not alone may provide some sort of comfort to you. It obviously is not enough. You need to take action, and this article will address one “get out of jail-free card” that will not only be relatively kind to your credit score (compared to foreclosure), but is also extremely fast. In fact, you can end your nightmare in just a few days!

Why has it gotten so bad, anyway? Read the rest of this entry