"You Don't Qualify": Three Little Words Don't Mean "Start Packing!" A champion for borrowers facing the loss of their homes because of defaulted home loans, Foreclosure Advocates, Inc., intercedes with lenders to save dignity, credit, and maybe even the home. The company offers a free analysis of options with the homeowner's interests in mind. Cost is based upon the client's choice of solution, some of which are no cost to the homeowner. San Antonio, TX (PRWEB) May 23, 2009 No one is winning the foreclosure crisis -- not dispossessed homeowners, not lenders bloated with impossible inventories and certainly not we, the horribly overburdened taxpayers charged with picking up the tab. Thus, the motivation for Foreclosure Advocates, Inc., was formed to address a singular issue - helping homeowners faced with foreclosure avoid that fate, said Caryl King, CEO for the company based in San Antonio. More than 6600 foreclosed homes from February through May, 2009, are San Antonio's contributions to the 81% increase in foreclosures nationwide over the previous year. It is a shouted indictment that systems upon which we have traditionally relied just don't work anymore. The concentric circles of debt, loss (financial and otherwise), confusion and lack of direction speak for themselves. Popular conclusions too easily reached are that fault lies with borrowers who should have known better and deserve what they got, or that fault lies with lenders who have learned their lessons and can be trusted not to make the same mistake twice. So, they stopped lending altogether. But, no one anticipated a complete collapse of the housing market, akin to a worldwide financial Hurricane Katrina. So pervasive is the problem that a startling 70% of those faced with imminent foreclosure never seek help from anyone, according to the San Antonio Board of Realtors. Whether caught in a deliberate whirlpool of confusion, wrapping oneself in a cocoon of denial or distrusting anyone offering solutions or the relief they bring, it is impossible to break through the wall of fear surrounding our community, King explained. "Foreclosure Advocates meet with folks facing the same issues all over the nation to go over their options - most are surprised to learn that even those with no equity in their homes, and those who owe more than the value of their house can be saved from foreclosure," King said. "Needy homeowners are tired of hearing that buyers are circling overhead to swoop down and pick up their houses for half the value or worse while they pack their belongings and try to find words to explain their turn of fortune to their children. "Those who waited for the government's stimulus plan to come to their rescue, submitted piles of paperwork including the mandatory hardship letter (sob story) and, with hope restored, are sorely disappointed to hear those three little words, 'You Don´t Qualify.' "I can't stress strongly enough to those facing foreclosure whether or not in default, that time is the one thing homeowners still control; whether it works for or against, though, is up to them. Foreclosure Advocates was set up to fight for the homeowner, but even we can't help if the homeowner runs out the clock". Though based in San Antonio, Foreclosure Advocates works with homeowners throughout the United States. King advised that she can be reached by phone or fax toll free at (866) 256-0159. # # #
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