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Thousands of Americans have lost their homes as a result of the housing crisis -- now.
Many are left to wonder how -- they revealed their dreams.
After they've lost everything Fox News.
Legal analyst Bob -- The legal lion of the west is here with some simple that's never good morning Bob value.
Are you are -- or are you doing let's go to the first question if we could where does someone begin.
After they've lost everything they hold their retirement.
Their savings how does that rebuilding begin.
You know for so many years people have -- been living in fear because they've lost so much.
Got to the retirements liquidated their pensions you know sold life insurance policies for -- surrenders.
And what I want what I really what our viewers to do is start taking control of their life and look as to what they have left.
No matter how little it made me.
-- value weight if you still have that if you have credit card that if you haven't filed bankruptcy.
What kind of interest rates are you paying if you have car loans look at -- what you -- because what happens is people get so distressed for what's going on.
They don't take control of their present circumstance.
To rebuild and what I want them to do look at what they have don't be embarrassed about what happened don't fear as to what happened.
But move on and get -- -- valuation dying yourself sit down as a family look at where you are.
And then get.
Get some professional guidance again as I've said before the start rebuilding in your future it's very important.
To take control of what you have lost at this point in your life.
And I've heard you say in the past how important it is to be truthful with creditors when you speak to the creditors laid out the -- can build a base in the future our next question.
Is it worth consulting with a reputable mortgage broker.
The plan the future purchase of -- home what about that one -- Absolutely first abroad as you know Peter so many people now have to rent because their credit shot.
But there are programs that are going to be developed by lenders because they're in the business of loaning money to purchase again.
Mortgage ache cough but -- and use that word by the way a competent reputable mortgage broker.
Will be able to sit down with you even now even if you just lost your house to foreclosure even if you just sold your house and a short sell.
Start sitting down -- they reputable mortgage broker.
And you could go through for example the chamber of commerce call people that you know in any area they can get a reputable person and look to say look.
-- -- look forward to buying in the future what programs are on the horizon how often should I comment meet with you.
Do these type of thing so what it does Peter.
It gives people a sense.
Of future it gives people a sense of hope that in the future they're going to own -- game because it is and will always be the American dream to.
Own a home in America -- and you will own again it worked well not really gonna help us rebuild it.
And we're hoping to know and and be back next week and so fuel a certain American more questions for Bob -- Email and friends at foxnews.com.
And he's gonna give you the best answers possible -- legacy -- next week.
Thank you sir thank you.
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