Will the Autumn Leaves Be A Prelude To The Fall?

I have noticed with greater frequency the appearance of "Foreclosure Mitigation Services" Companies.

1) They are not attorneys, therefore are limited in what they could possibly do to forestall a foreclosure outside of obtaining a loan workout and,

2) Deceptively hide the required disclaimer explaining this fact way down below the viewble part of the page.

It is an extremely sad comment on today's society that people such as these type companies prey on people who are desperately looking for answers to their problems. While the concept of these companies appears benevolent, and in some cases may benefit the homeowner, the majority of times these companies provide people with false hope, and only take their money.

This is especially an important point to consider in light of the fact that projections by organizations such as ForeclosuresMass have predicted that the current lull in foreclosures is only a temporary effect of recently enacted Massachusets law that mandated extension before lenders can take foreclosure action in Massachusetts Land Court.

The article goes on to state :

" We are in the midst of a foreclosure tsunami here in Massachusetts, and this storm is not going away any time soon," Sheila Farragher-Gemma, cofounder of ForeclosuresMass.com, said in a statement. "The new filing requirements have created a situation similar to the eye of a hurricane. It may seem calm now, but the storm will come raging back with even more force in the days ahead. The fact is that nothing has changed in the Massachusetts real estate market. More homeowners than ever before are defaulting on their loans, and we expect that we will return to historic foreclosure filing levels within weeks.”

Projections are that this lull will be coming to an end, once September rolls around, so we are literally on the cusp of the tsunami.

Homowners that have taken advantage of Massachusetts newly enacted law, as well as those who are starting to see that making the monthly payment is getting more difficult as the months go by, need to be proactive by preparing for this maelstrom.

If you are behind on your mortgage payments, or have a feeling that you may have difficulty making these payments in the near future, you should contact your lender immediately.

Unfortunately many times the people answering the phones are not inured to the intracies of negotiating a loan workout and the predicted response can be "you're behind, pay us what you owe, and there won't be a problem."

The best approach is to be firm in your conviction, and ask to speak to a supervisor. If you get nowhere, you should seek out the services of an advocate on your behalf.

Due to the mortgage frenzy of the past few yesrs, lender carelessness, greed, and out right fraud in some cases, provides many defenses to a lenders foreclosure action. The sad fact is that 80-85% of these cases go uncontested, and the lender prevails in cases where the client actually had a legitimate defense to the foreclosure action.

So, as the autumnal leaves turn a magnificent shade of gold magenta, and orange, in any foreclosure action of your home, be proactive and contest the claim brought by the lender!