New Book Offers Strategies for Preventing, Surviving and Overcoming Foreclosure

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Authors Sylvia Alvarez and Walter Walker Jr. offer distressed homeowners information about how to stave off foreclosure, work with lenders, rebuild credit in their new book The American Nightmare. FREE downloadable excerpts from the book are available at http://www.nahrep.org/american_nightmare/foreclosure-options.html

The American Nightmare Book: Strategies Preventing, Surviving and Overcoming Foreclosure

American Nightmare offers distressed homeowners practical advice on what to do if they are behind on their mortgage. Too many times, people are doing nothing to save their homes simply because they don't know their options. Becoming informed about the tools available to them is the first critical step they must take

The American Nightmare is a new book by veteran housing counselors Sylvia Alvarez and Walter Walker Jr. that offers distressed homeowners tips and strategies that can help them avoid, survive and overcome foreclosure. The book offers a step-by-step analysis of the reasons people wind up in foreclosure, the obstacles they must overcome and the practical solutions available to them. Published in partnership with the National Association of Hispanic Real Estate Professionals (NAHREP), FREE downloadable excerpts from The American Nightmare are available in English and Spanish and include important information about your options if you are in default on your mortgage.

The authors were inspired to write the book after being deluged by people in financial distress, seeking help from the prospects of foreclosure. The book offers the same practical advice they have delivered to thousands of beleaguered homeowners, many whom were able to overcome foreclosure. Readers will learn about the most common reasons why people end up in foreclosure, the lender's perspective in the foreclosure equation and what homeowners can do to negotiate a favorable outcome. FREE downloadable excerpts from the book offer homeowners advice on options to take if they are in mortgage default, including:

  • What the lender needs to know about the homeowner's financial situation;
  • How to negotiate a workout agreement;
  • How to develop a debt repayment plan;
  • The definition of a mortgage modification and what the lender needs to know before they agree to adjust the interest rate on a loan;
  • What is a partial claim and how it can be used to help move a homeowner out of default;
  • What is a short sale and when is it a good option for homeowners.

"American Nightmare offers distressed homeowners practical advice on what to do if they are behind on their mortgage. Too many times, people are doing nothing to save their homes simply because they don't know their options. Becoming informed about the tools available to them is the first critical step they must take," said Rebecca Gallardo-Serrano, Chairman of NAHREP.

The National Association of Hispanic Real Estate Professionals, a non-profit 501c6 trade association, is dedicated to increasing the homeownership rate among Latinos by educating and empowering the real estate professionals that serve them. Based in Washington D.C., NAHREP is the premier trade organization for Hispanics and has more than 15,500 members in 48 states and 62 affiliate chapters.

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