Not Knowing Rights/Options Leaves Homeowners Vulnerable
Utah Homeowners in Default May Have up to 11 Options to Save Their Homes; New Report Outlines Pros and Cons of Each, Helps Owners Choose
(PRWEB) March 22, 2007 -- Most Utahians will go an entire lifetime without falling behind on their house payments. But for the unfortunate few who do, it can be a very confusing time. This uncertainty combined with fear may lead to inaction, rash decisions, or even abuse. Your Home Advocate now provides a 30-page report to the public, outlining 11 options all homeowners may have available to avoid losing their homes.
While legal counsel is always recommended, it is often unaffordable to those in distress. Contacting one's mortgage company to work out a solution is a good start, unless the loss mitigation department is unwilling to compromise or makes communication too slow and difficult. Most homeowners behind in payments know that dozens of people begin contacting them as soon as a Notice of Default is filed. It is usually to offer only one remedy for the problem, such as bankruptcy, listing with an agent, or selling to an investor.
The report, titled "11 Ways to Save Your Home" outlines the Utah foreclosure process, helping readers to identify which phase they are currently in. It explains the 11 options that may be available to them, and the pros and cons of each. Lastly, it includes an action plan to help homeowners narrow down the options they prefer most and get started, either on their own or with the help of a competent professional.
"Until now, it has been hard for homeowners in default to find one place to learn all of the options available to them," explained Alan Brymer of Your Home Advocate. "People deserve to be informed so they can make the best choice for themselves."
Your Home Advocate's mission is to educate Utah homeowners in default of their foreclosure alternatives. The complimentary report is available at www.yourhomeadvocate.com.
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