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Thousands of Americans are in the fight to save their homes if you're -- struggling homeowner feeling overwhelmed.
There are alternative options to foreclosure first off don't buy more home.
Then you can afford.
You -- to calculate your cost your home cost your mortgage your insurance your taxes should not exceed more than 25 to 20% of your monthly take home pay any more than that you can't afford it.
Mortgage calculators on fight like -- low figure caught the ownership in the context -- -- budget.
If -- above this if you feel like you can't do it then you didn't have to capital -- down payment.
Or -- -- Shelby purchase plans altogether contact your lender as soon as any problems arise.
Half of those communities -- -- to foreclosure never have a conversation with their lender is just astounding statistic -- -- you're having problems you wanna contact your lender immediately.
-- your credit is good wire had a still above water so you have more negotiating power explore a short sale.
That involves selling your home your lender for a less than what you -- -- The benefits of course is no more negative equity that's a nice thing you can buy home within -- three years.
And less of a stigma and actually going through the foreclosure process which is a huge -- in addition.
Your credit won't be as -- if you go through this process -- go through foreclosure process loan modifications have been infamous for being next to impossible to score.
But it could be the best option outside of foreclosure we are seeing more banks doing these modifications the success rate is higher -- over 60% of homeowners don't know these programs actually exist but should since the average savings -- monthly savings -- 500 dollars.
-- for qualifying for a modification.
You must already be behind on your loan.
But it's not wise to withhold payments and it is -- ethical for anyone to advise you to do so in New York Brenda Buttner Fox News.
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