FYI Foreclosure Offers Free Seminar: ‘How to Fight Foreclosure’

April 11, 2012 - PRLog -- April 11, 2012, Bensalem, PA – Almost four years after the economic meltdown of 2008, the U.S. economy is showing signs of recovery.  But it’s not enough to slow the foreclosure rate in Philadelphia.  In fact, RealtyTrac, a company that tracks foreclosures across the country, shows that Philadelphia’s foreclosure filing rate in February 2012 was almost 50% higher than in February 2011. At the same time, mortgage defaults increased by 35%.   Behind these scary statistics are people who are losing hope as they see their dreams of home ownership disappear.  That’s why FYI Foreclosure is inviting distressed homeowners to a free seminar in Philadelphia, ‘How to Fight Foreclosure’, where they can learn their options to fight back and, perhaps, save their homes.

“When homeowners are unable pay their mortgage, it’s obviously very stressful,” says Janene Chandler, founder of FYI Foreclosure.  “This situation is made worse because the information homeowners need to defend their homes against foreclosure is often not readily available.  That’s why I founded FYI Foreclosure—to help educate homeowners in financial distress so they can find the best possible outcome for a difficult situation.  The ‘How to Fight Foreclosure’ seminar is a way to get the word out and let people know they are not necessarily at the mercy of the banks.”  

One option that Chandler details at this two-hour seminar is a short sale. In this situation the proceeds of a home sale fall short of the outstanding home loan, but the lender agrees to this route instead of foreclosing.  Another choice, that can be used when someone is suffering from a short-term financial issue, such as a temporary layoff, is forbearance, where the lender agrees to delay foreclosure.  Also, while most are aware of the possibility of negotiating with a lender for a loan modification, there is not as much knowledge about securitization audits, a tool that can give homeowners more leverage to reach a deal with their lender. It determines if the loan has been securitized and if there are any irregularities in how it has been handled. Other options include bankruptcy, mortgage assumption, where the homeowner sells the home to someone who assumes responsibility for the mortgage, and equity sharing, where an investor buys a share of the home.

The ‘How to Fight Foreclosure’ Seminar is being held on Saturday, May 5th from 1-3 pm at the Sheraton Philadelphia, University City Hotel, 3549 Chestnut Street, Philadelphia, PA 19104.  The event is free but registration is required.  Call 215-352-6542 to register or visit https://fyiforeclosureonline.com/Sign_Up.html.

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FYI Foreclosure educates distressed homeowners about their options to fight back against foreclosure. The company was founded by Janene Chandler who has decades of experience in real estate and community revitalization.