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Foreclosure Prevention Counseling
2009 2d edition
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416 pages
Companion website at www.consumerlaw.org/fprc
ISBN-13: 978-1-60248-046-9
About the Authors
Table of Contents
Index
About the Companion Website
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Loaded with practical advice on stopping a threatened foreclosure, this revised edition now details the Obama administration's "Making Home Affordable" program and other new loan modification initiatives. The volume also provides basic steps to obtain a workout, tailored for six different types of mortgages:
- Fannie Mae and Freddie Mac;
- Subprime;
- FHA-insured;
- VA and Rural Housing Service.
Special chapters cover the mechanics of arranging a workout and "fourteen steps to foreclosure prevention." The book also includes:
- Homeowner strategies for reducing and prioritizing debt;
- Dealing with loan overcharges and servicing errors;
- Legal protections against foreclosure;
- Answering questions about bankruptcy;
- Homeowner options after the foreclosure sale;
- Summaries of each state's foreclosure and real estate tax abatement laws.
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Invaluable Practice Aids in the Appendices and on the Companion Website:
- Links to the latest on new loan modification programs
- Foreclosure prevention intake form and counseling checklist
- Sample authorization to release information
- Sample request for information from a loan servicer and Qualified Written Request under RESPA
- Homeowner's checklist for avoiding foreclosure
- Sample mortage loan, escrow account statement and other loan documents
- Key agency guidance on FHA, Fannie Mae, Freddie Mac, VA, and RHS mortgages
- Consumer handout about credit card use
- Loan modification calculator.
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