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Thousands of Americans are in the fight to save their homes if you're -- struggling homeowner feeling overwhelmed.
There are alternative options to foreclosure first off don't buy more home.
Then you can afford.
You want to calculate your costs your home cost your mortgage your insurance your taxes should not exceed more than 25 to 20% of your monthly take home pay any more than that you can't afford it.
Mortgage calculators on fight like that low figure caught the ownership in the context of your monthly budget.
If you're above this if you feel like you can't do it then you didn't have to capital market down payment.
Or you gonna have to -- purchase plans altogether contact your lender as soon as any problems -- -- Half of those who -- -- -- -- -- never have a conversation with their Lander is just an astounding statistic the minute you're having problems you wanna contact your lender immediately.
-- your credit is good wire had a still above water so you have more negotiating power explore a short sale.
That involves selling your home -- your lender for a less than what you one.
The benefits of course is no more negative equity that's -- nice thing you can buy a home within excellence three years.
And less -- a stigma than actually going through the foreclosure process which is a huge -- in addition.
Your credit won't be as tarnished if you go through this process -- you go through foreclosure process loan modifications have been infamous for being next to impossible to score.
But they could -- the best option outside of foreclosure we are seeing more banks doing these modifications to success rate is higher -- over 60% of homeowners don't know these programs actually exist but should since the average savings -- monthly savings -- 500 dollars.
-- for qualifying for a modification.
You must already be behind on your -- But it's not wise to withhold payments and it is -- ethical for anyone to advise you to do so in New York Brenda Buttner Fox News.
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