Description:
This book is for homeowners who have fallen behind on payments and are worried about losing their homes to foreclosure. It offers a clear, compassionate explanation of today's foreclosure process and practical options, like loss mitigation possibilities (including a loan modification, repayment plan, or forbearance), mediation, bankruptcy, and other alternatives such as a short sale or deed in lieu, so readers can decide whether to fight to keep the house or move on with the least financial damage.
Brief description: Amy Loftsgordon is a legal editor and writer at Nolo, focusing on foreclosure, debt management, and personal finance. She edits several Nolo books and is also the coauthor of The Foreclosure Survival Guide and Solve Your Money Troubles. Before joining Nolo, Amy worked in the areas of foreclosure and debt collections for over 15 years. Her broad experience includes helping people fight collection actions and enforcing debtors' rights under the Fair Debt Collection Practices Act and other laws. As part of a national settlement involving the mortgage industry, she has also reviewed servicer records to uncover extensive credit reporting errors. Amy received a B.A. from the University of Southern California and a law degree from the University of Denver Sturm College of Law. She is licensed to practice law in Colorado.
Review Quotes: "...evaluate your options and make smart choices." Publishers Weekly
"Straightforward and timely." Library Journal
"Loftsgordon suggests how to think about foreclosure and provides a number of pathways and options that people facing foreclosure can choose according to their own individual circumstances and where they live. For those who want to keep their home, she says, the best option is to work something out with the mortgage lender that will satisfy both parties. For those who are ready and willing to leave their home, she explains ways to follow a path that will leave them relatively flush rather than destitute. An appendix provides information about each state." Eithne O'Leyne, Editor Ringgold, Inc. ProtoView