Los Angeles, CA (PRWEB) January 18, 2008
Most consumers do not know that there are solutions and options to protecting their home. Intimidated by banks, lost in the turmoil of insufficient funds to pay the mortgage, homeowners are losing their properties at record rates and with great personal devastation -- when often they don't have to.
An expert in the field of real estate law, foreclosures and bankruptcies, Timothy G. McFarlin, PLC can address a wide range of issues dealing with the state of the real estate market, including what homeowners need and may not know in order to protect themselves and changes in the marketplace.
With the real estate market in free fall, it's difficult to understand what a person's rights are when it comes to such issues as short sales, mortgage rate reductions, and loan modifications, stopping foreclosure, and avoiding foreclosure. Timothy G. McFarlin is a Southern California-based attorney who provides the expertise of a group of real estate and California bankruptcy professionals including mortgage, real estate, and bankruptcy lawyers.
Timothy G. McFarlin Can Discuss -- The 5 Things You Should Know About Foreclosure:
1. Your lender does NOT want to foreclose on your property
2. If you can make a mortgage payment each month, even something less than your full mortgage payment, you can usually keep your home.
3. Lenders will typically NOT work with borrowers directly.
4. Forbearance agreements offered by lenders to consumers directly, almost always fail.
5. Lenders are much MORE flexible in modifying the terms of mortgages than consumers realize.
Foreclosure Facts: Nationwide, nearly 1.1 million homes entered the foreclosure process so far this year, up 93 percent from the 559,750 foreclosures filed during the same period last year. About 526,936, or more than six out of every 1,000 households in the United States, were repossessed by banks or lenders during the first 11 months of the year, up 41 percent from the same time last year. Many borrowers fall prey to adjustable-rate mortgages that boosted payments beyond their ability to pay. Many of them were banking on appreciation to help them refinance into lower monthly payments, only to see values decline. The personal toll this is taking on families is heart wrenching. States with the highest number of filings, year-to-date, are given here, with the percent being the change from the level for January-November 2006:
California 82,085 +424.8%
Texas 62,478 + 15.5%
Ohio 42,225 + 16.1%
Florida 36,393 +156.2%
For Further Information Contact Sabrina Propper
Anthony Mora Communications, Inc.
(661-259-9232) or 323-874-2933
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