SlideShare for iOS
by Linkedin Corporation
FREE - On the App Store
http://www.StopForeclosureLoans.org - Foreclosure Loan - Get Your House Out of Risk...
http://www.StopForeclosureLoans.org - Foreclosure Loan - Get Your House Out of Risk
A foreclosure loan can provide the funds that you need to get your mortgage payments back on track. While this type of loan isn't for everyone, and certainly can't save all homes at risk of bank repossession, there are some criteria that you can use to determine whether you are a good candidate for this type of loan.
Are You A Good Candidate?
have you fallen behind on your mortgage payments due to a temporary setback like job loss, illness, or the care of a loved one?
Will you be returning to a more stable level of income in the near future?
If so, you are a good candidate. This type of loan is geared toward responsible people who have been met with unforeseen circumstances that may have hindered the ability to make timely mortgage payments.
Foreclosure Loans Caveats
Make sure to compare different loan options - you don't want to get scammed or be taken to the cleaners by predatory lending practices
Do shop around. You don't need to pay exorbitant fees, and these will vary from one lender to the next
Finally Yet Importantly
While you may end up paying relatively higher interest and fees for this type of loan than for other types of home loan products, this temporary expense is worth it to most homeowners if it will save the home from repossession.