Mortgage Management Strategies from Equitysmith Help Homeowners Avoid Foreclosure and Realize a Profit When the Real Estate Market Recovers

Santa Barbara, CA, December 04, 2007 --(PR.com)-- The number of foreclosures across the U.S. continues to rise, worrying homeowners struggling with higher payments and putting pressure on lenders. Recent real estate industry statistics indicate that nearly 250,000 consumers per month are losing their homes to foreclosure because they can’t keep current on their loans and are unable to sell due to the slump in home sales.

Adding to the real estate crisis is the "credit crunch" caused by tighter loan qualification rules, making it difficult for new buyers to secure a mortgage. Despite the bleakness of the current situation, much of the personal financial hardship suffered by homeowners and resulting stress to the national economy is avoidable, according to Equitysmith, a real estate equity management company based in Santa Barbara, Calif.

"There are several proven alternatives to losing a home to foreclosure and they can work for almost any situation, even homeowners with zero equity," said Alvin Reyes, an equity management consultant with Equitysmith. "The tragedy is that consumers are unaware of their options and lenders simply don’t publicize them."

Industry analysts and consumer watchdog groups say that a good portion of the blame for the current high level of home loan defaults is due to low "teaser" interest rates and an avalanche of re-finance loans that have pushed consumers perilously close to financial ruin. Further hampering the housing market are increasingly sluggish home sales. In September of this year, home sales throughout California fell to their lowest level in two decades, largely a reflection of how difficult it is for buyers to find a lender.

"When the higher monthly payments of an adjustable rate mortgage hit, many families have no choice but to sell or let the bank take the property back," Mr. Reyes commented. "In a market like this with few buyers, selling quickly enough to avert foreclosure is often impossible. If a homeowner acts early enough, our Equitysmith EquitySaver™ program can usually bring in a buyer, avoid foreclosure and protect the owner’s interests in the property."

Unlike most companies that provide services for consumers in danger of losing their real estate, the programs from Equitysmith are not based on securing new debt or selling the property outright. Using proven legal principles, Equitysmith brings relief to homeowners and helps buyers attain the dream of homeownership, all without a credit check or the necessity of bank approval.

"Although these techniques to protect the homeowner’s interests are woefully underused, they are highly effective in avoiding foreclosure and helping motivated buyers graduate from perpetually renting. It also benefits lenders by keeping loans from going bad," said Mr. Reyes. "Best of all, the Equitysmith program is effective in strong and weak real estate markets."

Equitysmith Tips for Homeowners in Today’s Challenging Real Estate Market: What to Do If You Can’t Make Your Mortgage Payments

Act quickly. If you fall behind in your mortgage payments or know that you will have difficulty meeting a higher monthly payment, don’t delay in looking for a solution to the problem.

Find out your "mortgage rights". Read your loan documents carefully and understand what your lender can do if you fall behind on your payments.

Research the foreclosure laws in your state and the timeline of the foreclosure process. When it comes to financial and legal matters, knowledge is power.
Beware of "foreclosure recovery" offers. Don’t listen to claims by outfits that tell you they can stop your foreclosure immediately by having them represent you. Never sign any legally binding document without carefully considering its implications and showing it to an attorney.

Don’t fall victim to "foreclosure prevention" companies. Companies that contact you offering to "negotiate" with your lender on your behalf typically charge for information that you can obtain for free from the mortgage company or the state or federal government. Don’t waste precious funds that you can put to better use.

Consider exploring a "creative" real estate solution. When homeowners find themselves unable to afford the home they live in or an investment property, they often believe that there are only two alternatives available to them: 1. Sell the property to satisfy the existing mortgage, or 2. Allow the property to fall into foreclosure. In fact, the use of equity management techniques, such as those provided by Equitysmith, are well proven, legal remedies that can be a viable solution to most situations. It protects the homeowner’s interests in the property, avoids foreclosure and even gives offers the potential for financial gain when the real estate market recovers.

To find out more, without cost or obligation, visit www.Equitysmith.com and complete a brief, confidential form.

About Equitysmith
Based in Santa Barbara, Calif., Equitysmith is a consumer services company serving homeowners and buyers with innovative and proven equity management strategies. The experienced consultants at Equitysmith are dedicated to providing personalized and responsive service to deliver the best possible solution for each client.

Equitysmith is not a lender, credit counseling bureau, law firm or otherwise engaged in furnishing banking or attorney services. Before entering into any legally binding agreement, consult with law and accounting professionals. For additional information on services offered by Equitysmith, visit www.Equitysmith.com or call 1-888-548-2968.

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