As part of his continuing series of reports making sense of economic news, Paul Solman tells the story of some homeowners who have stopped paying their mortgages even though they can still afford them.
Duration : 0:9:23
From KETC’s Facing the Mortgage Crisis special on July 22, 2008: What happens after you receive the first notice of default? When you receive a notice, there is normally a foreclosure date listed. You need to take action and call your lender immediately to find out what steps to take to save your home. The foreclosure process in Missouri can take as little as 30 days.
Duration : 0:2:4
Leaseoptionprogram.com helps homeowners in foreclosure who have equity and wish to keep their home. If you are unable to refinance the client and they have no other option, send them to us. We match that client with an investor who will purchase the home and lease it back . This stops the foreclosure and keeps the client in the home at a payment that they can afford. Mortgage brokers who refer a client to us receive a 1 point fee now and hopefully are able to refinance that client in 12 months.
Duration : 0:4:56
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Duration : 0:9:14