Product Description

There are hundreds of books that show investors how to purchase foreclosure properties, but this is the only book that helps people who are in foreclosure. This is the only book that helps homeowners understand the foreclosure process, and explains practical strategies they can utilize to save their homes. This book is required reading for anyone confronting foreclosureForeclosure is not the end of the world - or even the end of your home, necessarily.First, know that you're not alone. Foreclosures affect all kinds of people and all kinds of properties. Like many people faced with foreclosure, you may feel helpless, hopeless, and resigned to giving up your house without trying to save it. If so, cheer up! You actually have some good, solid options to take control of the situation, avoid foreclosure proceedings, and even protect your credit. Depending on which option you choose, Stop Foreclosure Now will help you:* decide whether your property is really worth saving* figure out how much time you have to respond* negotiate with your lender* use the courts to stop the foreclosure * decide whether bankruptcy is a good option* arrange to refinance your property* sell your property quicklyIncludes all the necessary forms and step-by-step instructions.

---

Product Details

• Amazon Sales Rank: #569500 in Books
• Published on: 2008-09-15
• Original language: English
• Number of items: 1
• Binding: Paperback
• 368 pages

Features

• ISBN13: 9780814413302
• Condition: USED - VERY GOOD
• Notes:
• Click here to view our Condition Guide and Shipping Prices

About the Author

Lloyd Segal (Santa Monica, CA) is a mortgage broker and attorney. He is also the founder of California Foreclosure Institute and a member of the California Association of Mortgage Brokers and the Mortgage Bankers Association of America.

Excerpt. © Reprinted by permission. All rights reserved.

INTRODUCTION

A. What Is Foreclosure?

B. When Will This Book Help You?

C. What Types of Property Does This Book Cover?

D. What Types of Foreclosures Does This Book Cover?

E. Don't Panic.

F. Can You Really Do It Yourself?

G. Will This Book Help You If You Do Have an Attorney?

H. How to Use This Book.

The experience of falling behind on your loan payments and going

into foreclosure can be painful, humiliating and stressful. And if you’re like most

people, your emotional distress is aggravated by a lack of knowledge as you are

cast into unknown territory. But please be assured--you are not alone. Millions of

people go into foreclosure every year throughout the United States.

To minimize your anxiety and maximize your understanding, this book

provides a thorough discussion of what you will likely encounter once your

property goes into foreclosure. But before we leap into the fray, there are several

pointers that you should consider as you start your journey.

A. What Is Foreclosure?

Let’s start with a clear definition of “foreclosure.” In its simplest terms, your lender

has the legal right to sell your property at a public auction if you fall behind on loan

payments and don’t bring your loan current within a specified period of time. This

process, known as foreclosure, can be conducted though the court system (judicial

foreclosure) or without going to court (nonjudicial foreclosure). Depending in

which state your property is located, you will experience either judicial foreclosure

or nonjudicial foreclosure. This book covers both.

Learning the lingo. If you’re facing a foreclosure, you’re going to run into a lot

of unfamiliar legal terminology. Along the way, this book will try to explain the

most common jargon in plain English. For a quick reference, you can also check

the Glossary at the back of the book.

B. When Will This Book Help You?

If you are reading this book, there’s a good chance your lender has already

started foreclosure proceedings. This book will help you understand the

foreclosure process and figure out what you can do to stop it. But this book

will also be helpful if you’ve missed payments on a real estate loan and your

lender is threatening to start foreclosure, or you are struggling to keep current

on a real estate loan but expect that you won’t be able to keep up the payments

for much longer. In addition to learning about foreclosure methods, you’ll

find valuable information on how to negotiate with your lender or use other

strategies to avoid a foreclosure.

Your goal should be to learn all you can about foreclosure so you can

anticipate what might happen and develop a strategy to stop it. This book

will also help you analyze whether or not to keep your property, by taking

a long, hard look at your options and deciding which option(s) will ultimately

be of benefi t to you.

C. What Types of Property Does This Book Cover?

In this book, we use the generic word “property” to refer to all types of real

estate. In other words, the information in this book applies to any real property,

regardless of whether you own a single-family home, condominium, duplex,

triplex, apartment building, shopping center, offi ce building, commercial

building, industrial park or raw land.

D. What Types of Foreclosures Does This Book Cover?

This book covers foreclosure by a lender who holds a written lien against your

property (called a “mortgage” or “deed of trust”) as security for repayment

of its loan. This lender could be the financial institution that originally gave

you a loan to purchase your property, or a lender who subsequently lent

you additional money also backed by security in your property (such as a

bank that granted you a home equity loan), or the lender that refi nanced your

property, or the seller of the property who accepted a portion of the sale’s

price in the form of a junior lien, or a company that subsequently purchased a

loan from any of your original lenders.

Foreclosures not covered by this book. This book does not cover tax sales, court

judgments, or mechanic’s lien sales, which are not technically foreclosures.

If you are involved with any of these forced sales, you should consult an

a_orney. Nevertheless, many of the strategies described in this book can

be applied to these involuntary sales as well.

ICONS USED IN THIS BOOK

Throughout this book, we have included special icons to help organize the

material and underscore particular points:

--Legal or common sense tips to

help you understand or comply with

legal requirements.

--A caution to slow down and

consider potential problems.

--A suggestion to seek the advice of

a lawyer, tax advisor or other specialist.

--An indication that you may be

able to skip some material that does not

apply to you.

--A cross-reference to another section of

this book, or a suggestion to consult

another book or resource.

E. Don’t Panic

Property owners in foreclosure are like deer caught in the headlights of an

approaching automobile. Panicked, they freeze with inaction. Misunderstanding

the process, they o_en use the word “foreclosed” in the past tense as though

they have already lost their property.Or worse, some people assume their

properties are already lost and move out without even pu_ing up a fight. Don’t

let this happen to you!

Although easier said than done, it is important not to panic simply

because a foreclosure has started. As you will learn in this book, foreclosure

is a lengthy process--not a single event. The process takes a minimum of three

months in some states (nonjudicial foreclosures), and as long as one to

two years in other states (judicial foreclosures). Additionally, in a judicial

foreclosure, you may have the right to buy back (“redeem”) your property

for an additional period a_ er the foreclosure sale depending on the laws

in your state.

So, whatever you do, don’t think all is lost and give up without a fi ght.

You still have time to develop and implement a plan to stop the foreclosure,

and this book will help you.

F. Can You Really Do It Yourself?

Unless your foreclosure is unusually complex, the answer is yes--a

resounding yes! You simply need to use your common sense, the willingness

to learn about foreclosure procedures, and the commitment to deal with your

lender. In other words, your everyday life experiences are the foundation of

what you need to know.

For the most part, the techniques described in this book do not require

legal knowledge. Forget the notion that you have to act or sound like an

experienced lawyer to be successful in dealing with lenders. As you will

discover, the vast majority of people you’ll deal with during the foreclosure

will not be lawyers.

Realize that no matter how many times you read this book and how

carefully you prepare, you will probably be nervous when you fi rst approach

your lender, trustee or sheriff. But, rest assured, you’re not the only one feeling

uneasy. Most people (including lawyers) feel anxious when they begin a new

task.

So take a deep breath and gather up your courage. As long as you

combine your common sense with the principles and techniques described

in this book, and are not afraid to ask people questions if you need help, you

should be able to represent yourself competently and effectively.

G. Will This Book Help You If You Do Have an Attorney?

Finally, if an attorney already represents You, this book can still help you. Keep

in mind that your property belongs to you--not your lawyer. Based upon

this simple fact, no lawyer will ever be able to give as much attention to

stopping your foreclosure as you can.But, a good lawyer can do a better

job of representing you if you are informed and knowledgeable about the

foreclosure process and can participate in making critical decisions.

H.How to Use This Book

This book is designed to increase your overall understanding of the foreclosure

process (including procedures and strategies that may initially seem

peculiar or foreign), and to provide specific techniques you can use to stop

the foreclosure. Here’s the best way to use this book.

Step 1. Read Chapter 1 and Decide Whether or Not to Keep Your

Property

Chapter 1 orients you to the world of foreclosure law and helps you decide

whether to keep your property. Based on your decision, you’ll begin to develop

a plan to stop foreclosure in Chapter 1, Section E.

If you’re in the midst of a foreclosure. If you do not have the time to read large

portions of this book, read Chapter 1, then proceed to those method(s) of

dealing with foreclosure that apply to your particular situation.

Step 2. Learn About the Legal Documents Underlying a

Foreclosure ...

---

Customer Reviews

A pure gem of wisdom, knowledge and power
As a principle, I stay far away from self help and you-can-do-it-yourself books, because more often than not, their authors seem to have the secret ambition of turning clueless reader/user into experts on their subject matters. Mr. Segal's book does not supply the reader with needless information on foreclosure, short sales and related matters: it simply provides very straightforward answers to all the fundamental questions the distressed homeowner actually has and to which he/she is seeking concrete answers to get out of a difficult situation. Plain and simple.
.
What more, the book is remarkably clearly written, and structured in such a way that the user/reader does not spend a minute agonizing over where to start, what chapters to read, or what information could be relevant given his or her particular circumstances. This book is in fact very results-oriented, and explores right from the start different viable solutions; from there, the reader/user is then guided through his or her solution, or best alternative option very steadfastly by the author. In that regard, I have to admire Mr. Segal's great ability to navigate the reader/user through a complex situation with surprisingly simple solutions, and his ability to put himself in the shoes of a distressed homeowner. Truly amazing!

Now. I came across, and bought this book when was entangled in a seemingly dead end situation: I had tried - rather very unsuccessfully-- to sell my house on which I owed more than the current market value, from 2 different lenders; my real estate agent, and real estate lawyer had both given up on my case; I felt trapped, and I was angered by the situation. When they let me down, I freezed, and was basically waiting for doom to loom on me. " Stop Foreclosure Now. Save your house if you can; save your credit if you can't" did not merely give me hope to find a way out. It actually empowered me overnight to take charge of my situation, by equipping me with the knowledge, tools, and information needed to engage with lenders and people in the real estate community in an intelligible and articulated manner about my case. Indeed, as a read the book, I could see myself evolving from a state of desperation and disempowerment to a state of mind where I could see new opportunities emerging from my obviously desparate situation. In that respect, one of the key lessons of the book, from a homeowner's perspective is Mr' Segal's take that foreclosure is not the end of it all; as a matter of fact, it could actually be the best thing happening to a homeowner seeking a fresh beginning in homeownership.

I wholeheartedly recommend this book to anyone, -- distressed homeowner or not -- who wants to engage intelligibly with lenders, or real estate folks on a foreclosure case, and work out a viable solution for herself or himself. Given the current real estate market, this book is simply a gem of wisdom, knowledge and power.

Reducing the stress of dealing with foreclosure...
"With STOP FORECLOSURE NOW, author Lloyd Segal has done a HUGE favor for many of us homeowners who have to face the very real intimidating and frightening process of coping with such financial difficulties. By simplifying and demystifying many of the steps involved, Mr. Segal has given us access to the knowledge and the ways and means necessary to better protect our families and our properties.
It's a very important intermediate step before having to seek and pay for professional help!

Thank-you,

Howard Gordon"

Stop Foreclosure Now
I've read lots of real estate books over the years, but "Stop Foreclosure Now" is one of the best. Plus, you don't have to be in foreclosure to appreciate its contents. For example, I'm a real estate investor, but still found it valuable. The book is divided into five sections. The first section covers promissory notes, mortgages, and deeds of trust. The second section differentiates between judicial and non-judicial foreclosure and describes the procedures for each. The third section describes various strategies homeowners can utilize to stop the foreclosure and save their homes. The fourth section, which was particularly helpful to me. Describes the specific foreclosure procedures in each of the 50 states. It includes a nifty map of each states and that state's website (which you can access for updates on foreclosure laws). The final section contains a glossary of commonly used real estate terms. This book is a valuable new addition to my real estate library, and I highly recommend it for anyone wanting to learn more about foreclosure.

Jim Mills
Manhattan Beach, CA