Bankruptcy attorney Elias targets the estimated two million American homeowners who are currently in default on their mortgages. Elias explains how foreclosure works, what options there may be for keeping a home when in default, and what to do when that is not possible. He includes instruction on negotiating a workout with a lender as well as chapters on how to use bankruptcy to avoid foreclosure. Elias's section on fighting foreclosure in the courts helps readers understand the circumstances in which they may be able to delay or stop a foreclosure action. The appendixes provide summaries of each state's foreclosure laws, a glossary, and information on finding and working with lawyers and bankruptcy petition preparers. Straightforward and timely, this is recommended for most public libraries.- (LIBRARY JOURNAL
"Nolo's just published The Foreclosure Survival Guide: Keep Your House or Walk Away with Money in Your Pocket by Steven Elias "discusses the most recent laws designed to help homeowners deal with the crisis and points them to resources (nonprofit housing counselors, government agencies and so on) that may help," says Mary Randolph, Nolo's senior vice president of editorial. Elias, a practicing attorney, former Nolo associate publisher and current president of the National Bankruptcy Law Project, advises that readers not panic. "Even if the lender does foreclose on the house, the process takes months at the least. You're going to have time to evaluate your options and make smart choices." (Publishers Weekly
From the Publisher
According to the data service RealtyTrac the number of home foreclosures in the U.S. rose 79.2% in 2007, with increases in 86 of the top 100 metropolitan areas.
In 2008 there will be an estimated 1.4 million new foreclosures.
Biting news for sure but Nolo, a pioneer in legal empowerment, offers its latest salve: The Foreclosure Survival Guide.
Written by a practicing lawyer who has helped hundreds of homeowners keep their homes or come out of foreclosure financially sound, The Foreclosure Survival Guide will help readers: Gain real perspective on a financial situation
Decide whether to refinance or make up payments
Determine whether it makes sense to leave a home
Learn what a deed in lieu of foreclosure is
Absorb the basics of personal bankruptcy
The Foreclosure Survival Guide is a thorough, easy-to-understand, and compassionate look at options for those facing foreclosure, and for the foreseeable future this resource will prove a valuable and vital guidebook for those homeowners affected by the foreclosure crisis.
--This text refers to an out of print or unavailable edition of this title.