5 ways to avoid foreclosure - cnbc tonight

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aff_tim

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May 15, 2007
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I noticed that tonight at 9pm on the Suze Orman show on CNBC she will be talking about 5 ways to avoid foreclosure.

It could be a decent way to grab some content topics or niche searches for affiliate marketing, since she has a large following and can probably get a lot of people searching for offers that pertain to her advice.
 


Eh, nothing new for affiliate marketing, but some decent ideas for content sites.

1) Refinance from ARM to fixed rate.

2) Ask for mortgage relief by calling the lender and telling them about your situation and they might extend the period of time before they begin the foreclosure process.

3) Entering forbearance will let you delay your payments for a few months while interest accumulates. You don’t have to pay anything out of pocket right now, but you will have to make the monthly payments plus the extra interest later.

4) Ask for loan modification if you have a high fico score and a decent amount of income. If you are 30-120 days late with payments the bank might adjust your interest rate or loan type or they may also extend your payment period in order to lower your monthly payments.

5) If your home is worth less then you owe and you can't make the payments you can ask the bank to let you short sell the house for fair market value (less than the money that you owe) and they will take the sale value of the home and cancel the remaining balance. If you do this you will owe tax on the difference between your loan amount and the house sale price.
 
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