Stop paying My mortgage?

Personally I have not made mortgage in two years. Can I proud? LOL
Not at all.
If the face of foreclosure are probably familiar with this "sick to your stomach", heart racing, did not sleep a sense of anxiety.
This is what I've finished, she lived with in the last two years.
Still remember the night in September 2008, when we decided to stop paying. The controversial decision was not a moment. We agonized over our choices of weeks, but eventually came to realize that he is our only hope to save our House.
That is To say, our own mortgage servicer informed me that we would not get attention to change as long as our payments are current. Being proactive is not apparently desirable quality of the borrower. Go figure.
If you research on the Internet, which I did, you'll find many opinions as to whether you should stop paying and plenty of holier than thou attitudes condemning those who choose it as a strategy to modify their loans.
My tips? Do not listen to the negative. Nobody's perfect and for those there for people that have never misspelled and live a good life, a perfect little ... kudos to them. For the rest of us imperfect people we still need a roof over our heads and this is the route that we chose to take.
According to information provided by LPS applied Analytics 4.2 million borrowers are past due or have their files referred to the Legal Department to conduct an investigation of exclusion. Two-thirds of these borrowers have made payments for at least a year, and nearly one-third did not pay in more than two years.
I think the lesson to be derived here is that when you stop paying, you can not be kicked out Tomorrow from home any time soon.
This is not what I thought ... ...This means that the banks are located in the upper part, right? Certainly cannot get away with paying the payments by credit card the day past its grace period without why so seriously getting dinged wouldn't mortgages are the same?
On average, has taken 500 + days to review the borrowers. This more than a year!
Without delving into the very detailed, so of course ... it's going to hurt Your credit score to stop paying. This is the price you'll pay for trying to save your home and you will have to in a room with the idea of paying money for large purchases by several years, until an improvement in credit ratings.
It is an important factor in weight, in preparing the present decision. If you are underwater then for sale at market value may be the best option for you to avoid damage to your credit.
Foreclosure is a public record and not only to impede the ability to find housing or obtaining credit, but in certain circumstances (in the case of background check, check, etc.) could your employment opportunities.
TIP! If your loan is owned by Freddie Mac or Fannie Mae may request an amendment of the loan, without being in default. I've heard mixed results as to the success of borrowers who are not in default.
In fact, it is critical, call Your servicer and tell them, ' I NEED HELP to save MY HOME "before MISS YOUR 1st payment.
You need to call and notify them of the financial difficulties, and "not being able to pay the mortgage next month". Ask what you can do to help.
Be firm and re-iterate their desire to remain at home and to reach a solution. Request that the record is in the "remarks" i read what was written.
Regardless of whether the claim that may or may not help (unless you are late in paying) it is important that this willingness to "work it out" documented.
It is equally important, the document every aspect of this call.
Before taking this decision, a key (it's like jumping off a cliff ... There is no turning back!) it mentally to have Plan B in the place where all efforts to modify the fail.
Various options plan b could involve inviting all arrearages to the current 11 days before the trustee sale (known as "cure the default"), together with a declaration of bankruptcy, chapter 13 (commonly known as "Home Saver" or from seeking remedy through the courts, which can be effective but expensive.
More information on all of these options as well as to best navigate the process of modification of the loan, please visit my website at http://www.stoporstallforeclosure.com
Maryann Johnson – wife, mother and former Director of marketing. She saved her home to foreclosure is to help shed light on the banking sector and help provide low-interest best understand their options and obtain modifications pushed. For more information or to purchase the e book The Guide easy to save Your home, visit http://www.stoporstallforeclosure.com/