For Internet Marketers Who Are Trying to Save Their Homes ...

[ElizabethAdams]

Hello, Everyone ...

This post is really in response to another thread ...

Don't Wait Till It's Too Late (Personal)

... which is about one of our members faced with foreclosure.

Although some of the suggestions for earning the money
to "come current" were well spoken, it seems to me that
one's time could be better spent -- initially, at least -- in
pursuing all available avenues of relief, as this would have
the effect of "buying some time" within which to correct
the situation.


FIRST:

There's a Foreclosure Freeze until January 9th,2009

Whether your own mortgage would qualify for this freeze or
not is something you would have to find out for yourself.

Here's one link to get you started:

RealNews / Foreclosure freezes announced amid mixed housing news

For more information, type "january 2009 foreclosure freeze"
into Google and see what you turn up.


SECOND:

There's a Homeowners Advocacy Organization Called NACA

Selected excerpts from the NACA website:

All of the below solutions provide for an affordable mortgage payment
over the long-term. In fact the Restructuring sometimes lowers the
fixed interest rate to less than a NACA Refinance (4.875%). As opposed
to the refinance, a Restructure is available throughout the country and
is not based on factors such as equity, debt ratios and credit score.
NACA through its Mortgage Consultants and Home Save Department
will make a determination of the solution that is most appropriate for
your particular situation.

NACA’s home save options are based on what you can afford based
on our comprehensive Affordability Budget. They are provided in the
order that is most appropriate for your situation. The most viable
and appropriate solution for most homeowners is the Restructure.
Servicers and investors are now more willing to restructure a loan
given the collapse of the mortgage market and the significant loss
they would incur with a foreclosure.

Leading attacks on predatory lending

NACA has been in the forefront of attacking predatory lending. The
lack of affordable credit to working people creates opportunities for
predatory lenders to move in with their high-priced abusive loans.
A priority in all of NACA’s campaigns has therefore been to expand
the reach of affordable lending. Indeed, NACA’s predatory lending
campaigns have all resulted in expanding access to affordable credit
to working people and low- and moderate-income communities. In
1991 NACA (previously UNAC) was the first organization to expose
the issues of predatory lending.

NACA’s history of aggressive, confrontational advocacy is essential
to understanding its current success and to answer the question,
“How is NACA able to provide a program that sounds too good to
be true?” NACA was established in 1988 as a non-profit community
advocacy and homeownership organization. Since then, NACA has
developed a tremendous track record of accomplishments,
documented in over seven hundred press clips.

NACA’s victories against powerful institutions and people

NACA’s victories have been against some of the country’s largest and
most powerful financial institutions. NACA’s aggressive confrontation
advocacy has yielded remarkable successes with tremendous benefits
for homeowners and communities. NACA’s victory against Fleet was
the most publicized. After a four-and-a-half-year war, Fleet Bank
surrendered, committing $8.5 billion of additional lending to low- and
moderate-income people and paying hundreds of millions of dollars in
settlements to people and communities whom they had victimized.
It also resulted in the destruction and ruin of Fleet’s predatory
lending subsidiary - Fleet Finance.

NACA has never stopped and the victories have been numerous.
NACA was the worst nightmare for a number of huge institutions
and powerful individuals: NACA defeated First Union and brought
its CEO Eddie Crutchfield (i.e. Fast Eddie) to his knees; NACA
defeated Ford Motor Company and as a result they divested the
Associates and their four billion dollar a year income; NACA defeated
The Associates (the country’s largest finance company) and forced
them to dramatically change their lending practices; NACA defeated
Senator Phil Gramm in his efforts to ruin NACA and its CEO Bruce Marks;
and NACA has had victories against Bank of Boston, Barnett, Riggs Bank
and Signet. In addition, NACA was instrumental in getting anti-predatory
legislation passed in Congress – the Homeowners Equity Protection Act
(“HOEPA”) and one of the strongest state anti-predatory legislation in Georgia.

NACA’s continues the fight against predatory lending

NACA continues its fierce battle against predatory lenders who are
foreclosing on thousands of homeowners, and threaten to push millions
more Americans to the brink of losing their homes. NACA has sounded
the call to action, and is putting lenders on notice. We are pushing
lenders to renegotiate predatory subprime loans and we have committed
a billion dollars to refinancing. We encourage people to participate in our
Predator Watch to guard against unscrupulous lenders. Our Predatory
Lending Forum is an active community of advocates and victims sharing
information and strategies. We are moving toward Predatory Lending
Legislation to work to prevent victimization, and we are also establishing
a Report Card for Politicians to expose their stands on the issue of
predatory lending and economic justice issues.

Linking people and communities to advocate for economic justice

NACA’s Neighborhood Stabilization Committees (“NSC”) are the grassroots
foundation for NACA’s neighborhood and organizing activities on both the
local and national level. Once Members are settled into their own home,
they can help build their neighborhood. NACA helps make connections
with other NACA homeowners in communities of all kinds. They meet on
a regular basis to address neighborhood issues and to connect to NACA
nationwide. Thousands of Members work together to improve school systems,
take control of abandoned lots, and fight against gangs, drugs and violence.
Starting locally, NACA Members are also perfectly situated to connect with
others in their state and throughout the country to create change. Together,
we can demand and succeed to achieving economic justice for working people
and our communities.

Expanding the fight

As our Membership continues to build, NACA’s power and ability to
demand more economic justice only increases. As a NACA Member or
a NACA activist, you can become part of the fight. We aim to not only
fight predatory lenders, but to hold our elected leaders responsible to
working people’s needs. As NACA expands with hundreds of thousands
of members nationwide, NACA will have a major impact on the nation’s
lending and economic justice issues.

Note: NACA can help save a home anywhere in the country,
but to help buy a home, there has to be a NACA office
in your state. See their website for all details.

https://www.naca.com/index_main.jsp

THIRD:

There's an Online Community-Based Personal Loan Site Called Prosper

The way it works, you set up your profile, and then you
put up a request for a personal loan. You tell your story,
and lay out your prospects, like how you intend to pay it
back, and so on.

Then other people will speak up and say how much they are
willing to lend you, and at what interest rate, and so on.

It "works" for them because they earn a much better rate
than they would if they put their money in a savings account
at the bank ...

And it "works" for you because where else are
you going to find anything like $7,000 in your situation?

The basic principle is 10 people each loan you $700, or
100 people each loan you $70, and that's how it all gets
put together.

And perhaps the best part is that the loan from Prosper
does *NOT* go on your credit report while you're paying it
back, but then when it's all paid off they put it on there
that it's a completely amortized loan in good standing !!!

You can find out more here:

Get a Personal Loan at a Great Rate! - Apply Online Today - Prosper


FOURTH:

There's a Home Workers Community Called WarriorForum!

This one you already know about. You're here!

It's just that, if you go through the other three steps above,
then you'll be *all* here ... you'll be able to close your mental door
on "worry" and "anxiety" and other problem-oriented emotions and
re-channel all that mental energy toward solutions instead.


So there you have it ...

"Izzy's Four-Pronged PowerPack to Permanent Mortgage Relief!"

1) Get a Moratorium

2) Get an Advocate

3) Get a Personal Loan

4) Get a MoneyMaking Idea!


I do truly, sincerely hope this helps.

Merry Christmas and Happy New Year!

Elizabeth

[Lance K]

You forgot...

Buy a house you can afford.

[Eric Stanley]

FYI: Prosper is in a freeze, or quiet period. I have a whole portfolio of loans there but am not (can't) issuing any new debt due to the site's lockdown for the time being.

[ElizabethAdams]

Hello, Eric ...

Now, that's interesting ... I didn't know about the current "lockdown" ...
has this happened before, in your experience?

They appear to be referring people to a "trusted partner" for loans,
at present, and it turns out that it's "LendingTree" ...

I think I'd give that one a miss, myself ... it would probably go
on your credit report, since it appears to be a "regular" lender ...

But NACA is definitely worth pursuing ... they're in the process of
helping a personal friend of mine right now, and it's just amazing
what they can do.

Regards, Elizabeth ...

[Victoria Gates]

Originally Posted by Lance K

You forgot...

Buy a house you can afford.

Ahh but Lance you forget, many COULD afford thier homes easily but have been laid off and unemployment barely pays the light bills as it is.

But you are also right, some people push it waaaay too much.

[David Hooper]

Prosper is also great when you have money to loan. I've been getting 12% return.

LendingClub.com is similar.

[ElizabethAdams]

Here's another thread where the "Prosper" idea is at work,
if not the actual method ...

Let's Save Tinkerbell's Home

[Tinkerbell]

Just poking my head in to thank Elizabeth for this thread. I'm looking into the NACA stuff...I think they charge a monthly membership or something, if I am reading correctly...but I'm still reading.

Tina

[Melody]

Prosper.com is more than simply in 'quiet' mode - they are under a rather serious investigation with SEC regarding their loans legal status. This happened last Nov when they received a cease and desist letter from the SEC. My understanding is that they are trying to work it out but it is indeed a pretty serious situation, and is going to take time and legal wrangling to get straightened out.

[Black Hat Cat]

But NACA is definitely worth pursuing ... they're in the process of
helping a personal friend of mine right now, and it's just amazing
what they can do

They sound just like the kind of group that helped orchestrate a lot of this mess to begin with. After bullying the industry into loaning to people who couldn't afford to buy houses in the first place, these organizations now want the lenders to write off those loans, then turn around and make even more loans to people who can't afford to repay them.

Anytime a group mentions "economic justice", you know they're a part of the problem, not the solution.

Still, it is amazing what blackmail can do for you when dealing with spineless companies who are afraid they will be labeled as racist if they refuse to make unsound loans. Hope your friend has some extra time on her hands....homeowners who get a NACA loan are required to participate in five actions a year, whether stuffing envelopes or storming a shareholders meeting. I'd rather lose my home and keep my self respect than deal with an organization such as this. It's nearly as bad as selling your soul to the
devil.

[Lance K]

Originally Posted by journeyforself

Ahh but Lance you forget, many COULD afford thier homes easily but have been laid off and unemployment barely pays the light bills as it is.

But you are also right, some people push it waaaay too much.

I hear you, Victoria. My comments were specifically for the ones who do push it way too much. They use this type of information as a "get out of dumbasshood for free" card and it screws things up for those with a legitimate case. People who are irresponsible with their personal finances should have to wallow in their own mess and be given 2 choices...sink or swim.

[Lance K]

Originally Posted by dondon7777

hello people in here...

Enough with the post count spamming.

[Dave777]

A little more food for thought! Might be worth a try for some...

Why lenders might forgive your debt - MSN Money

Dave

Originally Posted by ElizabethAdams

Hello, Everyone ...

This post is really in response to another thread ...

Don't Wait Till It's Too Late (Personal)

... which is about one of our members faced with foreclosure.

Although some of the suggestions for earning the money
to "come current" were well spoken, it seems to me that
one's time could be better spent -- initially, at least -- in
pursuing all available avenues of relief, as this would have
the effect of "buying some time" within which to correct
the situation.


FIRST:

There's a Foreclosure Freeze until January 9th,2009

Whether your own mortgage would qualify for this freeze or
not is something you would have to find out for yourself.

Here's one link to get you started:

RealNews / Foreclosure freezes announced amid mixed housing news

For more information, type "january 2009 foreclosure freeze"
into Google and see what you turn up.


SECOND:

There's a Homeowners Advocacy Organization Called NACA




THIRD:

There's an Online Community-Based Personal Loan Site Called Prosper

The way it works, you set up your profile, and then you
put up a request for a personal loan. You tell your story,
and lay out your prospects, like how you intend to pay it
back, and so on.

Then other people will speak up and say how much they are
willing to lend you, and at what interest rate, and so on.

It "works" for them because they earn a much better rate
than they would if they put their money in a savings account
at the bank ...

And it "works" for you because where else are
you going to find anything like $7,000 in your situation?

The basic principle is 10 people each loan you $700, or
100 people each loan you $70, and that's how it all gets
put together.

And perhaps the best part is that the loan from Prosper
does *NOT* go on your credit report while you're paying it
back, but then when it's all paid off they put it on there
that it's a completely amortized loan in good standing !!!

You can find out more here:

Get a Personal Loan at a Great Rate! - Apply Online Today - Prosper


FOURTH:

There's a Home Workers Community Called WarriorForum!

This one you already know about. You're here!

It's just that, if you go through the other three steps above,
then you'll be *all* here ... you'll be able to close your mental door
on "worry" and "anxiety" and other problem-oriented emotions and
re-channel all that mental energy toward solutions instead.


So there you have it ...

"Izzy's Four-Pronged PowerPack to Permanent Mortgage Relief!"

1) Get a Moratorium

2) Get an Advocate

3) Get a Personal Loan

4) Get a MoneyMaking Idea!


I do truly, sincerely hope this helps.

Merry Christmas and Happy New Year!

Elizabeth