| With foreclosures rising in African American | | | | scams, businesses and frauds who feed off them. |
| communities, because of predatory lending | | | | With the threat of foreclosure moving toward |
| practices by lenders. | | | | many black homeowner's it's tempting to leap at |
| Many African American homeowners scramble to | | | | the first deal someone brings to rescue you. |
| save their homes. Other homeowners struggle to | | | | But many African American homeowners have |
| sell their homes in a tight real estate market. Still | | | | found themselves in worst shape after dealing |
| others work to save their equity and credit rating | | | | with these so-called foreclosure consultants. |
| before they slip away. | | | | Avoid deeding your property to people or |
| All of these problems have solutions if you take | | | | companies who you have not researched |
| the steps to make yourself more foreclosure | | | | thoroughly. After that think twice before doing it. |
| proof. The number one mistake most African | | | | 7. Refinance While Your Credit Is Good. |
| American homeowner's make is failing to make | | | | Many homeowners make the mistake of waiting |
| themselves foreclosure proof. | | | | until they've missed two or three payments |
| Here Are 9 Powerful Tips to Make Yourself More | | | | before trying to refinance. This makes it much |
| Foreclosure Proof: | | | | harder to find a lender who will refinance. |
| 1. The Number One Rule.The number one rule to | | | | 8. Price Your House To Sell. |
| make yourself more foreclosure proof is current | | | | It is better to sell your home and preserve as |
| information. Yes, take the time to seek | | | | much of your equity and good credit as you can. |
| information as you're doing now.It's the first and | | | | Selling your house will give you a better chance to |
| most important step you can take to make | | | | have a fresh start. It could also result with you |
| yourself more foreclosure proof. In addition, with | | | | getting a little cash out of the deal. |
| changes taking place everyday, it's important to | | | | 9. When All Else Fails. |
| keep informed and updated by reading articles | | | | After you've tried all the previous actions to |
| and newsletters like you're reading now. | | | | make yourself foreclosure proof, you still have |
| 2. Take Action Now! | | | | this simple solution. Use it as your last resort. |
| Every study performed continues to confirm one | | | | You can keep a full foreclosure off your credit |
| of the biggest mistake homeowners make when | | | | record by simply giving your house voluntarily |
| facing a loan default is doing nothing, until it is too | | | | back to the lender. Called a "Deed In Lieu of |
| late. | | | | Foreclosure." |
| Positive, informed actions continue to be the best | | | | According to the U.S Department of Housing and |
| way to make yourself and your house | | | | Urban Development, here's what a Deed in Lieu |
| foreclosure proof. Know the longer you wait to | | | | of foreclosure (DIL) is. Where a mortgagor |
| take action, the less options and choices you'll | | | | voluntarily deeds collateral property in exchange |
| have. | | | | for a release from all obligations under the |
| 3. Appreciate The Little Positives. | | | | mortgage. |
| The threat of losing your home is serious. You | | | | Although it is a negative on your credit rating, it's |
| may find it harder to see the positives in your | | | | less harmful than a full mortgage foreclosure. |
| situation. But there is a science to this philosophy. | | | | Conclusion |
| The more positives you can see, the more hope | | | | By reading this newsletter, you've taken the first |
| you muster and the positive actions you will take. | | | | steps to make yourself and your house |
| 4. Be Patient - Don't Fall for Foreclosure Scams. | | | | foreclosure proof. Remember the key is to take |
| When foreclosures increase so do the foreclosure | | | | the time to educate yourself and take action. |