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 Expect6
Your Options: An Overview6
How You Can Stay in Your House Payment Free17
Why Foreclosure Doesn’t Have to Be So Bad18
Don’t Get Scammed by a Foreclosure “Rescue” Company18
2 Foreclosure Nuts and Bolts
How Much Time You’ll Have to Respond26
In or Out of Court?28
After the Foreclosure?36
3 Can You Keep Your House? Should You?
The Emotional Part of Foreclosure40
The Economics of Foreclosure: What You Need to Know45
When It Makes Sense to Keep Your House52
When It Makes Sense to Give up Your House54
4 Negotiating a Workout
Do You Have Enough Time to Negotiate?59
Working With a Nonprofit Housing Counselor61
Basic Workout Options69
Workouts for Government-Backed Mortgages74
Special Protections for Service Members on Active Duty76
5 How Chapter 13 Bankruptcy Can
Using Chapter 13 to Keep Your House81
Using Chapter 13 to Delay Foreclosure90
Coming Up With a Repayment Plan91
An Overview of the Chapter 13 Bankruptcy Process93
Will You Need a Lawyer?96
6 How Chapter 7 Bankruptcy Can
How Chapter 7 Bankruptcy Helps You101
Using Chapter 7 Bankruptcy to Keep Your House103
Using Chapter 7 Bankruptcy to Delay a Foreclosure Sale109
The Chapter 7 Bankruptcy Process: An Overview115
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 Fighting125
How to Fight a Foreclosure139
8 If You Decide to Leave Your House
Let the Foreclosure Proceed149
Sell the House in a Short Sale152
Offer the Lender a Deed in Lieu of Foreclosure160
Avoiding Deficiency Judgments161
Income Tax Liability for Deficiencies162
9 How Long Can You Stay in Your House for Free?
When You Miss Your First Payment167
After You Receive a Formal Notice of Intent to Foreclose168
After the Sale172
After You Get a Notice to Leave174
10 Resources Beyond the Book
Nonprofit Housing Counselors178
Real Estate Brokers179
Mortgage Brokers180
Bankruptcy Petition Preparers187
Looking Up Foreclosure Statutes191
Appendix State Information
District of Columbia228
New Hampshire249
New Jersey250
New Mexico251
New York252
North Carolina253
North Dakota254
Rhode Island259
South Carolina260
South Dakota261
West Virginia268