Home Foreclosure Resources & The Foreclosure Survival Guide by Steve Elias – New Nolo.com Book


Steve Elias Hi Friends,

As most of us know, Nolo.com is the best Website for consumer and small business USA legal information. Nolo’s lawyers-writers-editors are the best. Nolo.com covers everything from starting a business, employment, real estate, intellectual property, immigration, family law, tax, estate planning, bankruptcy, credit law and foreclosures.

Well… as our country slowly quickly moves into economic tough times, I thought I would blog on a new book, The Foreclosure Survival Guide written by my friend Steve Elias.

Steve Elias has been writing about legal and consumer financial issues for Nolo.com for nearly thirty years. He has been covering the recent legal and ecomomic changes that folks face, including credit, bankruptcy and foreclosure issues. Steve is currently blogging (with Albin Renauer – Go Blue!) on Nolo’s Bankruptcy & Foreclosure Blog, covering the latest issues, as well as legislation on bankruptcy and foreclosure. He also blogs on The Law Reform Soapbox.

The Foreclosure Survival Guide
Nolo.com also has put together the Property & Money Resource Center with loads of legal and consumer content from Steve and the other Nolo editors. This resource center includes specific sections with articles & FAQs on Foreclosure, Credit Repair & Debt, Bankruptcy and Social Security & Retirement. The Property & Money Resource Center is constantly being updated with the latest information.

Steve has written a new book on foreclosures, appropriately called the The Foreclosure Survival Guide (on Nolo.com the book costs $14.99, and the immediately downloadable ebook pdf costs $12.99, you can also get the book on Amazon and BarnesandNoble.com). The Foreclosure Survival Guide has information on mortgages, including adjustable rate mortgages (ARMs), short sales, deeds in lieu of foreclosure, judicial and non-judicial foreclosure, credit counseling, liens, and using bankruptcy to deal with foreclosure.

Steve goes into much more detail in his book, but here is some information from his book about nonprofit counselors that may be able to help:

Nonprofit Housing Counselors (from Chapter 10 – Resources Beyond the Book)

I strongly suggest that you find a nonprofit housing counseling agency. The counselors there can help you assess your mortgage situation and, if possible, negotiate a solution with your lender that will keep you in your house. Lenders–which suffer economically from foreclosures and benefit if something can be worked out–are the main source of funds for these agencies. (see Ch. 4 [of The Foreclosure Survival Guide] for an in-depth discussion of finding and working with a nonprofit housing counselor.)

The foreclosure problems have been going on for a while and could get much worse if something is not done by the lenders and government (who will soon own large stakes in the lenders). As it is in the best interest of the lenders and the neighborhoods to try to keep people in their homes to reduce the number of foreclosures and vacant units, there needs to be something done to revalue some of these loans. We will see what Congress, President Bush and then President ??? do. And then there is the US and world economy as a whole… we will see.

For those facing credit issues, foreclosure or possible bankruptcy, check out Nolo’s Property & Money Resource Center for very helpful consumer information. For those facing foreclosure, falling behind on their payments, or just need help with paying their mortgages, check out The Foreclosure Survival Guide. The table of contents of The Foreclosure Survival Guide is in the extended entry of this post.



iTunes :: Tangerine, Led Zeppelin III by Led Zeppelin

The Foreclosure Survival Guide – Table of Contents

Deficiency Judgments: Will You Still Owe Money

Delay or Stop Foreclosure

Delay or Stop Foreclosure

1 Foreclosure: The Big Picture
What to Expect 6
Your Options: An Overview 6
How You Can Stay in Your House Payment Free 17
Why Foreclosure Doesn’t Have to Be So Bad 18
Don’t Get Scammed by a Foreclosure “Rescue” Company 18
2 Foreclosure Nuts and Bolts
How Much Time You’ll Have to Respond 26
In or Out of Court? 28
After the Foreclosure? 36
Taxes 38
3 Can You Keep Your House? Should You?
The Emotional Part of Foreclosure 40
The Economics of Foreclosure: What You Need to Know 45
When It Makes Sense to Keep Your House 52
When It Makes Sense to Give up Your House 54
4 Negotiating a Workout
Do You Have Enough Time to Negotiate? 59
Working With a Nonprofit Housing Counselor 61
Basic Workout Options 69
Workouts for Government-Backed Mortgages 74
Special Protections for Service Members on Active Duty 76
5 How Chapter 13 Bankruptcy Can
Using Chapter 13 to Keep Your House 81
Using Chapter 13 to Delay Foreclosure 90
Coming Up With a Repayment Plan 91
An Overview of the Chapter 13 Bankruptcy Process 93
Will You Need a Lawyer? 96
6 How Chapter 7 Bankruptcy Can
How Chapter 7 Bankruptcy Helps You 101
Using Chapter 7 Bankruptcy to Keep Your House 103
Using Chapter 7 Bankruptcy to Delay a Foreclosure Sale 109
The Chapter 7 Bankruptcy Process: An Overview 115
Do You Qualify for Chapter 7 Bankruptcy? 116
Will You Need a Lawyer? 119
7 Fighting Foreclosure in Court
How Long Can You Delay the Sale of Your House? 123
When It May Be Worth Fighting 125
How to Fight a Foreclosure 139
8 If You Decide to Leave Your House
Let the Foreclosure Proceed 149
Sell the House in a Short Sale 152
Offer the Lender a Deed in Lieu of Foreclosure 160
Avoiding Deficiency Judgments 161
Income Tax Liability for Deficiencies 162
9 How Long Can You Stay in Your House for Free?
When You Miss Your First Payment 167
After You Receive a Formal Notice of Intent to Foreclose 168
After the Sale 172
After You Get a Notice to Leave 174
10 Resources Beyond the Book
Nonprofit Housing Counselors 178
Real Estate Brokers 179
Mortgage Brokers 180
Lawyers 180
Bankruptcy Petition Preparers 187
Books 189
Looking Up Foreclosure Statutes 191
Appendix State Information
Alabama 219
Alaska 220
Arizona 221
Arkansas 223
California 224
Colorado 225
Connecticut 226
Delaware 227
District of Columbia 228
Florida 229
Georgia 230
Hawaii 231
Idaho 232
Illinois 233
Indiana 234
Iowa 235
Kansas 236
Kentucky 237
Louisiana 238
Maine 239
Maryland 240
Massachusetts 241
Michigan 242
Minnesota 243
Mississippi 244
Missouri 245
Montana 246
Nebraska 247
Nevada 248
New Hampshire 249
New Jersey 250
New Mexico 251
New York 252
North Carolina 253
North Dakota 254
Ohio 255
Oklahoma 256
Oregon 257
Pennsylvania 258
Rhode Island 259
South Carolina 260
South Dakota 261
Tennessee 262
Texas 263
Utah 264
Vermont 265
Virginia 266
Washington 267
West Virginia 268
Wisconsin 269
Wyoming 270