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3 tips for delaying foreclosure

by sfishome on March 5, 2010

Need more time to get that Short Sale to go through? Or to come up with the money to get current on your loan? 3 tips for delaying foreclosure video:

The “Ask for the note” strategy is being billed by some as a way to prove the lender doesn’t even own your home. As always, if it sounds too good to be true, it is. If you wonder out loud “why isn’t everyone doing this” it’s probably because it isn’t true and doesn’t work.

Also, “remind the bank” that they lose 30% more in a foreclosure vs. a Short sale is dumb. This is one EVERYONE does ALL OF THE TIME. If you say it too, they’ll probably hold the phone 3 feet from their ear and not bother to listen to what you really need to talk about.

Finally, these are delaying tactics. They won’t stop foreclosure.

One tip from us…. print out your credit reports and scores NOW when your credit is still good. You’ll be able to prove to future landlords, employers and others that you were a good credit risk until you got caught up in a bad investment. www.AnnualCreditReport.com is the government’s site. Don’t use the ones advertised on TV unless you want to be sold a bill of goods and spammed relentlessly.

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