42 rules for saving your house from foreclosure: a practical guide to avoiding foreclosure, navigating the loan modification process and keeping your home

✍ Scribed by Coleman, David;Lowell, Laura(Editor);Triance, Craig

• Publisher: Super Star Press
• Year: 2009
• Tongue: English
• Leaves: 135
• Category: Library

✦ Synopsis

This book is for anyone who is in a bad mortgage situation. You have an adjustable loan; your monthly payment has now skyrocketed to an amount you can't afford on a monthly basis. That is the situation I found myself in. After four applications to my bank for a loan modification, I decided I needed to get professional help. Craig Triance is my lawyer and co-author in this biographical "how to" book about my process to save my home. We captured the critical things I learned along the way, so you can avoid making common mistakes. The rules are legally accurate, but may include strategies that the banks don't want you to know. We want you to be able to save your house also, and the rules in this book give you a complete guide to doing just that. The book is divided into three different sections of rules, based on where in the process you are. Section 1: How did you get into this mess? The rules in this section examine who will call you and who will not, who to look out for and what to do with your credit cards, retirement account and home equity loan.

Section 2: Rules to help you dig your way out! The rules in this section focus on getting out of denial about your current financial situation, being willing to talk about it, getting help, finding partners and behaviors that will help you look better (more credible for a loan modification) with a bank mortgage negotiator.

Section 3: Options, Solutions and Resolution. This section of rules assumes you are already dealing with the bank (and it is not going so well), and looks at some of your options including: loan modification, short sales, partnerships and investors, lease backs, even bankruptcy.

Based on David's experience and Craig's legal know how, this down-to-earth, easily read book provides practical knowledge and legal best practices coupled with the horror story David has lived through for over a year. This book emphasizes personal responsibility and also how to be prepared with specific strategies to deal with your bank. This book is about hope for the millions in this situation, and is written in a non-judgmental way to help you survive this financial crisis and keep your home!

✦ Table of Contents

Cover......Page 1
Copyright......Page 4
Testimonials and Endorsements......Page 5
Dedication......Page 6
Acknowledgments......Page 7
Contents......Page 8
Intro: My Story: David Coleman......Page 11
Rule 1: Rules Are Meant to Be Broken......Page 22
Section 1: How did you get into this Mess?......Page 24
Rule 2: You Need New Strategies for These Uncommon Times......Page 26
Rule 3: Learn from the Past......Page 28
Rule 4: What’s in Your Loan Paperwork CAN Hurt You......Page 30
Rule 5: Confronting Moral Hazard......Page 32
Rule 6: Focus on Your Own Situation......Page 34
Rule 7: Conventional Wisdom Will Not Help You......Page 36
Rule 8: Watch Out for Yourself......Page 38
Rule 9: Talk About Your Situation......Page 40
Rule 10: Go Public......Page 42
Rule 11: Reduce Your Debt......Page 44
Rule 12: Don’t Rely on Credit Cards......Page 46
Rule 13: Your House Can Eat Your Retirement Account......Page 48
Rule 14: Home Equity Should Not Be Spent on a Boat......Page 50
Section 2: Rules to Help you dig your way out......Page 52
Rule 15: Check for Lender Mistakes......Page 54
Rule 16: Don’t Keep Explaining......Page 56
Rule 17: Be Persistent......Page 58
Rule 18: Control the Conversation......Page 60
Rule 19: Take Care of Yourself......Page 62
Rule 20: Celebrate the Little Victories......Page 64
Rule 21: Make Yourself a Better Candidate......Page 66
Rule 22: Always Go to the Top......Page 68
Rule 23: Get Help When You Need It......Page 70
Rule 24: Question Your Assumptions......Page 72
Rule 25: Ask them to Produce the Note......Page 74
Section 3: Options, Solutions, and Resolution......Page 76
Rule 26: Look at Some of Your Options......Page 78
Rule 27: Consider Investors, Partnerships, and Lease Options......Page 80
Rule 28: Bankruptcy and Foreclosure May Be a Quicker Way Out......Page 82
Rule 29: Choosing from Limited Options......Page 84
Rule 30: Be Skeptical......Page 86
Rule 31: Take Advantage of the Situation......Page 88
Rule 32: Get Partners to Help You......Page 90
Rule 33: Never Throw Anything Away!......Page 92
Rule 34: Check for Mortgage Violations......Page 94
Rule 35: Give Up on Your Credit Rating......Page 96
Rule 36: Patience, All God’s Children Have Problems Right Now......Page 98
Rule 37: Not All Loans Can Be Modified......Page 100
Rule 38: Once You Start Negotiating Be Clear About What You Want......Page 102
Rule 39: They Just Want Your Money......Page 104
Rule 40: What Does Your Success Look Like?......Page 106
Rule 41: Getting Off Your Sinking Ship......Page 108
Rule 42: These Are Our Rules. What Are Yours?......Page 110
Appendix A: Additional Background......Page 112
Appendix B: More Than You Ever Wanted to Know About Mortgage Resets......Page 116
Appendix C: What a FICO Score Is......Page 118
Appendix D: An Idea of Closing Costs......Page 120
Appendix E: Lost Note and Other Legal Stuff......Page 122
Appendix F: Additional Information, If You Want It......Page 126
Appendix G: Additional Professional Resources......Page 128
About the Author......Page 132
Recommended Super Star Press Books......Page 134
A Message form Super Star Press......Page 135