Say No To Foreclosure

The flood of foreclosures is continuing across the U.S

. Last year 2.8 million properties received foreclosure notices. This is affecting all age groups, you may be one of the million people facing the threat of foreclosure and looking for any number of possible solutions. Whether you're in foreclosure now or worried about it in the future, we have information that can help you.

If a homeowner does fall behind in their existing mortgage payments for any reason, the best course of action is to contact their lender before foreclosure is imminent to see if a repayment schedule can be worked out. If a senior homeowner is over the age of 62 and has a mortgage that is relatively low in relation to the appraised value of the property which means If you have a significant amount of equity to tap into, it may be feasible to investigate the use of a reverse mortgage to avoid foreclosure, particularly if no other resources are available. Unlike a home equity loan, there are no monthly payment obligations with a reverse mortgage.

There have been many cases where a reverse mortgage has literally saved the day, rescuing a seniors home from foreclosure. Since the terms of a reverse mortgage require that any preexisting mortgages be paid off before the proceeds of the reverse mortgage become available, the lender that is threatening foreclosure is paid first. Any subsequent liens or debts can also be settled from the proceeds of the reverse mortgage, with no stipulations on the use of the remaining cash. Even if there is a minimal amount of cash left after paying off the primary lender, foreclosure is avoided, no monthly payments are required, and as long as the senior borrower continues to live in the property, the loan can never be called. No financial or credit qualifications to meet, no monthly payments obligations, and no restrictions on the use of the cash. Reverse mortgages are rapidly becoming a new and vital source of cash for todays seniors.

Consulting with family members, a trusted financial advisor or elder law attorney, and a competent reverse mortgage consultant are a must for senior homeowners to educate themselves about the various options available and to determine if a reverse mortgage would be a suitable solution for their particular needs and circumstance.

Many seniors are suffering silently and losing their homes to foreclosure because they do not realize that they can use the funds from a reverse mortgage to save the home from foreclosure. Dont be one of them, Pick up the phone and dial 800-630-0650. Check how you can avoid foreclosure. We have a Professional Senior Advisor that will be more than happy to answer all of your questions. We've helped thousand of senior homeowners solve their financial problems, it's time we help you.

Tim Jacobs

Golden Years Mortgage Solutions

Your MoneyWhen You Need It

www.GoldenYearsMortgageSolutions.com

(800)630-0650

tim@goldenyearsmortgagesolutions.com

Tim Jacobs @ Golden Years Mortgage Solutions www.GoldenYearsMortgageSolutions.com (800)630-0650 tim@goldenyearsmortgagesolutions.com Golden Years Mortgage Solutions is a reverse mortgage approved FHA Lender. Weve helped thousands of senior homeowners solve their financial problems. Our agents and brokers collectively have over 60 years of experience in Reverse Mortgage Loans and general financial services, including managers who are industry pioneers with more than 12 years of reverse mortgage experience. Our dedication to providing financial solutions for seniors is evidenced by the number of referrals that come from our existing clients.

by: Golden Years Mortgage Solutions

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