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Here is a great article from the Ny Post on how one judge has blasted a bad bank and let the couple keep their home-and even cancelled their debt! Bad Bank

Anyone having issues with that mortgage lender can most certainly take this as a precedent in their own favor, if they think the bank is being harsh.

Beware of places that say they can make the problem go away, because in many cases, what they are doing is assuming the loan, so that you are no longer the owner of the property, but are renting it from the new finance company.

And in this case, you might be in even more danger of losing the house, being worse off than before, because you have no built up equity, you have lost your downpayment and any improvements you might have put into the house, and you have nothing to even try to sell. They can sell the house at any time.

The main thing is not to hide your head in the sand. You might be surprised to know that often times if you yourself even speak with the mortgage company, they might offer you an appropriate payment plan that could get you completely caught up on your arrears, or re-negotiate the terms so that you have a more manageable payment plan.

After all, what do they want with an empty house? Especially with foreclosures at an all time high, and prices low and a glut on the housing market because no one is buying, and they have to be much more cautious about lending.

They only make money on your interest payments. Better for them to have some money coming in, than lose it all if the foreclose, or you file for bankruptcy.

So do your research, talk to the government agencies here to help, and look at your budge realistically. It is no good you keeping the house if you can’t eat, or heat it.

Then tell the bank what you can afford, and see if there is some way to make up the arrears and get caught up, and keep up.

Foreclosure has become one of the most terrifying words in America. But be prepared, and it doesn’t have to happen to you.

If you own a home and have run into some financial burdens, leaving you unable to make your monthly mortgage payment, you could be at risk of foreclosure.

It is very important that you completely understand everything that there is to know about foreclosure, who you should speak with, questions you should ask, different things that you could possibly do to ensure that foreclosure of your home will not occur.

In this article we will discuss foreclosure and why it is absolutely crucial for you to do your research to try to stem the problem that you might be facing if it looks like you are facing potential foreclosure of your home.

Just because you get behind on your monthly mortgage payments, does not mean that your lending company will just automatically decide to foreclose on your home. However, if you are not careful, depending on which company you are going through to purchase your house from, remember that anything is possible.

Nobody wants to be caught unexpectedly by the mortgage loan company and come home one day to find a notice saying that they have chosen to put your house up for foreclosure. There are so many different things that you can be more knowledgeable about whenever it comes to foreclosure.

Too many people that do own a home, never take the time out to learn anything about  the worst case scenarios. They blithely assume that they would never be in that position, and are not forewarned and prepared.

None of us ever really know what sort of hardships could potentially come our way totally unexpectedly, which could cause you to have to be concerned about potential foreclosure. Being faced with such a dilemma should not be shameful to you.

It happens to the best of people and if you are sitting there thinking that it could never possibly happen to you, well, all we can say is, that none of us never really know 100% that we are safe from foreclosure.

Make sure that you do your research if you think that your home is at risk of foreclosure. Look at what you can realistically afford, and try to work with your financial institution  to come up with a plan to make sure that you do not lose your home.

Not a day goes by without foreclosure hitting the headlines.

For more information on foreclosure, why not browse these really great articles:

Foreclosure articles