In Free Foreclosure Tip I am going to address a forbearance agreement for borrowers that are behind in their mortgage payments. In the past few years, whatever was agreed upon between the borrower and lender was for the most part, “carved in stone”.

However there may well be some great news for you and the lender based on the current economic situation. Many borrowers today have gotten temporarily behind on their monthly mortgage payment, and want to get caught up.

Most of these homeowners that were caught in this situation were due either to a change in their life situation, health and or employment issues? Either way…I’m sure that it has caused a financial squeeze that in making the monthly mortgage payment a bit of a stretch?

Currently most lenders have a huge supply of foreclosed properties that are in litigation and or they have already taken back (REO), and really are not looking for any other properties at this time or in the future.

This Free Foreclosure Tip would, assuming that you are still able to continue making the original mortgage payment(s), to contact the lender(s) and request a reinstatement of the loan based on the borrowers improved financial situation with a forbearance agreement.

Usually the lender is looking to make sure that the borrowers can still make the original monthly payment. Next they are looking for an amount put down against the balance due now, and the ability to makeup the remaining difference monthly for the next 6-12 months. Do not agree if you are unable.

The point of this Free Foreclosure Tip is to let the borrower know that the lender in most cases with be “all ears” and listen to any reasonable plan to pay back the past due amount and not go into foreclosure. Pick up the phone and call them now.Thank you…

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http://www.truthofrealestate.com

Clint Cohen is a renowned national expert in foreclosure resolutions and short sale negotiations. Clint has been actively involved in various forms of real estate for over thirty years and actively involved with negotiations foreclosures for more than ten years. Clint has been helping and assisting buyers and sellers with special challenges (hard to sell properties and hard to finance buyers) long before there were any books, tapes, Internet information and boot camps. Clint has volunteered his time to help hundreds of homeowners in foreclosure situations and has succeeded in getting many reinstated and also educated so they would know the truth, and all without any charge to homeowner.

Clint has been successful in helping so many homeowners to keep their homes. For those with major financial challenges and did not want to keep, he has been able to negotiate with the lenders to accept a lesser payoff which created a win-win for all parties. Through many years of success, Clint has helped thousands by educating the real and honest Truth of Real Estate and is offering Free and Easy Foreclosure Tips. There are many people offering many foreclosure services, but very few have been actively involved in the actual business, and fewer that have a sincere desire to honestly want to help the homeowner in his time of need. Please visit our website now for a copy of Free and Easy Foreclosure Tips. Always better to know the truth and all your available options now than to have any regrets later.

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