Stopping foreclosure is an everyday struggle for millions of American families. Many people are quick to blame this on adjustable rates kicking in; however the real reason is not the rates, but the fact that during the last two years the cost of living has skyrocketed. In addition, during this same time period, middle class income rates have actually declined.
This means many families that had no difficulties making a mortgage payment two years ago are now struggling. Unfortunately, these families will likely have little chance of stopping foreclosure and the loss of their home.
People must begin to change their attitudes. In recent years, they have come to believe that their home values will increase dramatically from year to year and have used this equity to fund their lifestyles. Now they need to understand that increases in price in the range of $270,000.00 to $300,000.00 per year are a thing of the past. Simply stopping foreclosure and expecting home prices to rapidly recover is not a solution. It could conceivably take decades for the prices to return to recent values.
These unrealistically high home values were primarily the result of a bubble created by the irresponsible policies of CEO's and Executives within the financial sector. They started giving loans to people who really could not afford them. Often they made it seem livable for families because they set beginning payments that were affordable, however as soon as the adjustable interest rates kicked in, the payments quickly became unmanageable.
This glut of new home buyers being approved for loans created a gigantic demand for homes and served to drive prices rapidly upward. Now as this bubble bursts the opposite happens. Home values have dropped and people must deal with inflation and a recession. This has created a real disaster.
If you find yourself in this position stopping foreclosure through unconventional methods may be your only possible solution. Currently only about 15% of homeowners facing foreclosure are able to get help. However don't despair and don't let yourself become one of the 85% who lose their homes.
The task of stopping foreclosure is not impossible. You simply need to research the programs that are available to help you and take advantage of them. Do not count on the banks to help you as they often do not truly want you to know all your options. There are many strategies that will help you with stopping foreclosure and some can delay the foreclosure for at least two years to give you the time you need to recover.
And yes, even if you have not income at all you still can manage to stay in your home for two years or more without making any monthly mortgage payments, and you do not need the help of an attorney or any counseling agency, all can do it all by yourself once you know what to do and how to respond in every situation.
For more information about this subject and for tips on your task of stopping foreclosure and staying in your home for up to two years without making any monthly mortgage payments, and without paying for any service at all, visit my website youstayhome.com Stopping Foreclosure