How To Get Home

So the stage is set for a battle between home owners that are late on their mortgages and lenders who are ready to foreclose on them. As more and more Americans are facing the possibility of losing their home, Congress is considering what, if any action, it should take to help out the borrowing public.

Lenders who service mortgage loans are getting much more pro-active in the loss mitigation department. Short sales, loan modifications, and refinancing are all being used to limit the amount of real estate the banks are taking back through foreclosure.

How hard is the average borrower willing to work/fight to keep their home? If they are anything like Wu Ping, then there may be hope. A very determined Chinese lady is fighting for her home even though she is up against a very difficult situation. Her simple two-storey brick home in Chongqing city is now a little difficult to access, but Wu is keeping up her three-year fight against the would-be developers trying to build on her land.

Any home owners who are facing difficulty with their mortgage payment are strongly encouraged to contact their lender as soon as trouble starts. Do not wait until you are more than 30 days past due as it may limit the options available to you.

It is important to remember that your lender does not want to have to foreclose. No one wins in foreclosure.

Good luck Wu.