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Stop Foreclosure
Midwest-HomeBuyers.com has shown homeowners not only how to stop foreclosure but how to save their Credit Rating and avoid costly mistakes during the difficult emotional times involved in the judicial process of taking away one's home. Whether you have been facing financial difficulties for some time and have been juggling debt while maxing out your credit cards or just in a recent slump due to loss of employment, injury or another set back, you need the valuable information contained in this report to educate yourself to make an informed decision.

Know your Options so that you can make the right Decisions!
Facing foreclosure is an emotionally draining event in one's life. Most owners in such a situation find that they have intense feelings of fear of the unknown and anxiety. These confusing thoughts can lead to emotional instead of logical actions and decisions. Making emotional decisions is NEVER a good idea when it comes to your home and money. Foreclosure is an emotionally charged event in which owners often let their emotions, instead of logic, invade their thoughts and decisions to make irreversible mistakes! Homeowners who only concentrate on saving their home without considering their entire financial picture often end up in even deeper trouble because they fail to look at all the affects of their emotional short term decisions. This is likely the first time you ever faced foreclosure. But it is not ours. No one is more knowledgeable than our staff in stopping foreclosure in the Chicagoland area.

You can get help here . . .

FREE EVALUATION of what you are planning on doing and what you what may need to do. We offer a FREE REVIEW - a no obligation review of your particular situation in which all of your questions will be answered.

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The Most Common Foreclosure Options

Following are the most common options for people facing foreclosure. Depending on your situation, all of these options may or may not be available to you. Everyone's individual situation is different. Call Midwest-HomeBuyers and we can discuss your options.

Your Options

1. 2. 3. 4. 5. 6. 7. 8.

Reinstate the Loan Forbearance Loan Modification Mortgage Refinancing Sale of the Property Deed-in-Lieu of Foreclosure Filing Bankruptcy Do Nothing

1. REINSTATE THE LOAN - The most obvious option is to pay the arrears and bring the loan current. If the Complaint to Foreclose the Mortgage had already been filed whether you have been served with the foreclosure lawsuit or not, then the amount needed to get the loan current will not only include the missed payments but also late charges, filing fees, title report (Minutes of Foreclosure) requested by the bank's Attorney to name all recorded lien holders needed to be included in the Complaint to Foreclose, Broker's Price Opinions for market value and Attorney fees. This is the quickest and most efficient way of stopping foreclosure to you. 2. FORBEARANCE - The lender will stop or postpone legal action upon a substantial payment of the arrears and an agreement to pay the balance over time while staying current with the new payments. Usually granted when you make satisfactory arrangements to pay a large amount of the past due balance, 50% is common, and promise to pay the balance over a set time of a year or less while also making the future mortgage payments on time. If payments are missed, the lender will go back into the original foreclosure suit and reinstate the proceedings usually with an Order that they requested you to sign to give you a forbearance agreement that you admit to the debt owed and do not object to the entry of a Judgment of Foreclosure. 3. LOAN MODIFICATION - A loan modification seeks to avoid foreclosure by negotiating with the lender to modify the terms of the current loan in default. Loan modifications may include extending the loan period, adjusting the interest rate or adding the delinquent portion and fees bank into the principal of the loan to be repaid over an extended time. The loan is being rewritten so that the lender will obtain a current credit report and evaluate your ability to repay the larger amount. If your set back was only temporary and your other bills are not so great as to interfere with your ability to pay the new modified loan, then this might be a good option for you. The extra fees may be required to be paid upfront with new
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money by you or it may be added to the principal to be paid back over the life of the loan. A $4,000 loan fee may cost as much as $20,000 when paid back over the loan's life. 4. MORTGAGE REFINANCING - A lender will usually wait about 2 or 3 months before turning the matter over to their Attorney to file Foreclosure. Some lenders may wait longer and try to work out the missed payment with the owners before giving up and starting a Foreclosure. In both cases, there will be a history of missed payments. These missed payments will have a devastating effect on your Credit Rating. If you try to get a new loan, the new mortgage company will see the late payments and easily find out about the Foreclosure since a Notice known as a Lis Pendens was filed with the Recorder's office against your name. This most often leads to a denial of the refinance loan application. Some lenders will take on the added risk of giving a new loan to a non-performing borrower but at a VERY high interest rate with higher than normal Closing costs for the loan. There are some hard money lenders that will take 10 points of the loan for granting the loan plus their Closing costs. Their rates approach those normally seen on credit cards. This option is normally for those with prior excellent credit histories and who have only suffered a temporary setback. If your are seriously considering this option, then contact Midwest-HomeBuyers for we have connections with companies that are most likely to be able to help you. Remember that time is running against you so dont waste a lot of valuable time with this option. You could lose your home while waiting for a loan approval. 5. SALE OF THE PROPERTY - For owners who have been unable to work their problems out with their lender or find another way to refinance their loan, a realistic option is to sell their house. When time is of the essence in selling your property, an investor who offers a fast closing should be considered. Typically, this will be for less than what a comparable property might bring on the open market in which the property is repaired and in perfect condition. When a property is sold to an investor such as Midwest-Homebuyers it is a quick "As Is" sale, often in 9 days or less and there are no real estate commissions paid and the owners do not have to spend any money on repairs or spend time putting the house in perfect shape to meet a demanding buyer. By selling your house "As Is" to an investor, you get a fast sale allowing you to instantly stop the foreclosure and save your Credit. 6. DEED-IN-LIEU OF FORECLOSURE - If the owners of the property voluntarily issue a Deed back to the lender that is foreclosing, they would be in effect be giving the house back to the bank upon the bank's promise to stop the foreclosure. The bank would then become the new owner. The problem is that the bank would only take back the house if there are no other liens or judgments on the property for they would be stepping into your shoes and taking over any debts and problems that you have. Banks do not have the time or inclination to deal with junior lien holders when they can easily continue their Foreclosure to obtain their own Judgment of Foreclosure that would cut off subsequent liens upon the judicial sale. If your house is sold at a foreclosure sale, the obligation still stays with you to pay others the balance of the liens and judgments in your name as well as a possible deficiency judgment if your house sells for less than the full amount of the foreclosure debt.
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7. BANKRUPTCY - Some homeowners act on their Attorney's advice and file bankruptcy believing that all their problems would be solved. Bankruptcy only costs a few hundred to file but there are Federal guidelines to file Schedules of payment to your creditors including your mortgage lender within 15 days. Since you would be in Federal Court, there is not much slack for enforcing the Federal Statutes and the staff at Midwest-Homebuyers has seen a lot of difficulties with a Chapter 13 bankruptcy going to completion and a very high fail rate. Chapter 13 bankruptcy can stretch out the debt owed at the time it is filed for up to 5 years. However, your mortgage must be kept current while paying the arrears for the lender can modify the stay in bankruptcy court to obtain a new order to go back to the foreclosure court to sell the property. A Chapter 7 bankruptcy is a complete bankruptcy and cannot be rescinded. It does put a hold on everything but all it buys is time. The legal fees get costly for an Attorney because the Federal Statutes and guidelines are complicated for your Attorney to work through the maze of laws and to defend against the bank and their Attorney who is trying to modify the stay and go to foreclosure sale. 8. NOTHING - You may find it odd that doing NOTHING is an option. However, it is the most common option taken by homeowners. Owners are fearful in the beginning of Foreclosure that the Sheriff may come out right away to evict them but after time passes and the mortgage is not being paid, homeowners become complacent and put the problems of foreclosure out of their minds. At least until the Foreclosure Sale takes place and an Order for Possession is given to the Successful Bidder at the sale, which is usually the lender, directing the Sheriff to evict after 30 days. Many people seem to fall into a state of complacency hoping to someday win the lottery and pay off the mortgage in foreclosure before they get evicted. But by then it is too late. You are likely to be confused by your options and fearful of making a bad decision but by doing nothing you are making a decision. The decision you are making by doing nothing is the decision to completely close your mind to reality while losing your home.

We would love to tell you that stopping foreclosure is a simple process and that it requires no special skill or knowledge but that is simply not the case. No one is more knowledgeable then Midwest-HomeBuyers at stopping foreclosures in the Chicagoland area and if you just call us, we can give you straight answers to all of your questions with no obligation.
We trust that this overview of foreclosure options will help you start down the path of informed decision making to protect yourself, your family and your bank account. If you would like to discuss any of these options, call Midwest-Homebuyers and we will gladly answer any of your questions.

(847) 814-6000
www.Midwest-HomeBuyers.com
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Time is Your Enemy!

If your mortgage payments are more than two months behind, your lender has probably already turned over your file to their Attorney to start the foreclosure proceedings. And you may not know it unless the Sheriff has already served you with the Complaint to Foreclose. However, the lender's Attorney actually starts the foreclosure by filing the Complaint to Foreclose with the Court, files a Lis Pendens Notice with the Recorder of Deeds to inform the public, orders the Sheriff or gets the Court's permission to use a private Process Server to serve you and other lien holders with the Summons for the foreclosure. Their Attorney also places a legal Notice in the newspaper with your name specifically to inform you but also your other creditors that a legal process to take away your home has started. There are services that gather your legal information from court filings and Legal Notices in newspapers and resells such information to banks and other lenders as well as to credit reporting agencies. Within a short period of time, your name appears on many different lists distributed to lenders and makes your future borrowings harder for they see you as incapable of paying back your primary loan for housing and a poor risk for future loans. As time passes thousands of dollars in penalties and legal fees are added to the balance you owe on your mortgage. And every single day extra interest and late fees are added!

The longer you wait, the harder it is for us to help you. Time is against you. You must act quickly!

FREE REVIEW!
Midwest-Homebuyers offers a FREE, no obligation REVIEW of your situation. Call us so that we can discuss your particular options and answer all of your questions. We have extensive experience in the foreclosure area. Our staff Real Estate Broker ran the Foreclosure Department for a major real estate firm and published a weekly Foreclosure Report. Now this extensive experience is available to you for a FREE REVIEW of your situation. Or, if you have already decided that it is in your best interest to sell your property and are ready to discuss this option, we may be interested in buying your home. If your property qualifies, we will structure several options and let you choose the option that best suites your needs. We will NOT try to sell you anything. If there is no way that we can help you, we will tell you so that we will not waste your time. If we think that you are already on the right track, we will tell you that. If referring you to a third party is the best then we will gladly refer you to someone that we feel can help with your situation. Remember, there is NO CHARGE for this consultation.
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We buy homes Fast. . . Cash! 10 Days or Less! Any location! Any condition!
Although the most common options were covered in this report, there may be other options available to you depending upon your particular situation. You should consider seeking competent legal advice before following the options presented here for there may be others that suit your own special needs.

Pick up the phone now and call us at . . .

(847) 814-6000
KennethAndrew@Midwest-HomeBuyers.com

It will take only a few minutes of your time and you have a lot to gain and nothing to lose by making the phone call. You do, of course, have a lot to lose by doing NOTHING. Call now! Don't forget to get our FREE eBOOK if you are thinking of selling your home fast that you will provide you with important information that you cant get anywhere else including options that Realtors arent aware of . . .

"Sell Your House in Days & Not Months"

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If you have sued someone and were awarded a judgment in Court and have tried unsuccessfully to collect, now is your chance to RECOVER MONEY that you thought you lost forever!

MidwestHomeBuyers
836 E. Rand Road, Suite 267 Arlington Heights, IL 60004 Phone: Direct: Fax: 847/814-6000 847/361-8722 847/705-0922

Midwest-HomeBuyers.com will buy your judgments for cash with no recourse to you. It is like found

money to you to collect on judgments that you have been holding for years after unsuccessful Citations to Discover Assets and Garnishment attempts have failed to bring you the money rightfully owed to you. 7

E-Mail: KennethAndrew@MidwestHomeBuyers.com Web Site: www.Midwest-HomeBuyers.com