If you don't pay your mortgage for a certain number of months, your mortgage company will most likely foreclose on you. You will probably be evicted from your home and lose your rights to the property. All across our nation today, this is happening to many folks. Foreclosures become part of your credit history.
It can have a very negative affect on your future attempts to get credit. It is recommended to have enough in savings to cover six months of mortgage payments, just in case of unexpected events, like job loss, death, divorce and more.
It can be tough in today's economy to stay on top of everything. To refinance with foreclosure is a very real fear, says Freddie Mac. If you are approaching a possible foreclosure and want to refinance, Peak Home Loans can help. Please note that Peak Home Loans are experts at getting our clients the hassle-free, low cost, easy approval on loans with prior foreclosures. Another thing to remember, most people have better credit than they think, at least Far Credit, keep this in mind while filling out our online form. When contacted by us, kindly ask our loan professional any question you may have. They will be more than happy to assist you obtaining a mortgage or refinance after a foreclosure. Remember, all loans don't fit all people; if you need a mortgage loan, we'll find the right one for you.
We all know that home values have declined over the past several years. So, refinancing, even with a foreclosure on your record, may be an option. Many lenders offer programs to borrowers that need help because they are facing foreclosure. But, before doing anything, you need to take a look at your overall finances. If all else fails, make sure you prepare for an upcoming foreclosure and get together documentation regarding your income and assets. You never know what will happen, and what you will need, and when you will need them.
Click to get your FREE TransUnion Credit Score and Monitoring. You get your credit score for free, monthly monitoring for free, and the ability to dispute any item on your report that is wrong. Another option would to get a FREE Credit Repair Service, eliminate your current debt, and start over with a fresh new good credit score. These are excellent ways to get immediate cash, and improve your credit score and get lower interest rates within 30 days.
"Our well-qualified mortgage experts will do whatever it takes to get you the loan you want with the best rate available, the lowest monthly payment, and the most cash if you need cash. We will work around less than perfect credit and reward those with good credit. We will do what others cannot." - Peak Home Loans, hundreds of thousands served since 1998.