As I was surfing the web, I came across a site with listings of homes under pre-foreclosure. This list in the greater Los Angeles area alone, has hundreds of homes listed under pre-foreclosure! Wow, I was quite surprised!
Pre-foreclosure is a stage when the home owner is not able to pay a month or two regular payments to the lender - such as the banks. If the owner cannot settle this problem, the problem would come to the point when the property would be foreclosed.
Of course, we cannot blame people when bad circumstances come to them such as unemployment, health problems, and a lot more. Once the affected people face such circumstances, they may no longer have a regular income to pay their bills - and that includes paying the mortgage.
Once a property has been foreclosed, the home owner suffers a bad credit history. Imagine, when you have a bad history credit, you can't even qualify to rent a small apartment! As a result, I've seen many homeless people walking around in the greater Los Angeles area too! What's worse, all the equity you have invested for your home would all be gone. The banks won't even repay you for this!
But there is a way to stop foreclosure. One site I've seen offers this solution. It is located at www.webuyuglyhouse.biz. When you are in the pre-foreclosure stage, remember your worst enemy could be TIME. If you won't act quickly, you would certainly suffer the worst effect of foreclosure.
Just a good advise to our friends in the pre-foreclosure stage, please do act quickly before it is too late.