In order to attempt to determine the needs of those facing foreclosure, the Foreclosures Help website conducted a survey in August of 2008. The following article is a condensed version of the results of that survey, in order from most popularity to least. Every respondent of the survey identified him or herself as an adult resident of the United States who was more than 90 days behind on his or her mortgage and/or already in an ongoing foreclosure proceeding.



1) How exactly do I protect my home from foreclosure?

The most frequent question that owners of homes consider regarding foreclosure was, of course, by what method they could stop said foreclosure. Commonly, the question was stated more precisely than this, for example, some respondents asked what actions they could perform in order to shield their house from the foreclosure. Others asked how they could keep their property, and still others simply didn't want the embarrassment of being evicted.

Divorce, loss of employment, and sudden medical bills are among the many things that can cause a homeowner to stop making timely mortgage payments. It does not take long for the bank to start foreclosure proceedings, and many of the homeowners don't know how to defend themselves. The majority do not want to consider extreme measures such as selling the house or declaring bankruptcy, and refinancing is not usually possible. Most of these homeowners are suffering transitory financial trouble that they expect to pass quickly. While they can resolve the balance in arrears, the majority of American homeowners cannot do so immediately.

2) How do I protect my credit Score?

Their credit rating is another thing that homeowners want to protect when they are in foreclosure. Everyone has been warned and scared by all the press and news on how a foreclosure will destroy credit ratings for 7 years or longer. While foreclosure can last just a few years, the impact on credit rating of the homeowner in foreclosure lasts much longer. In the meantime, the homeowners cannot get any loans for new properties or cars or even to rent even though they may have resolved their financial issues and are now making decent money.

3) What happens if I file bankruptcy?

When a homeowner is threatened with foreclosure and has no way to pay the back payments or even current mortgage payments and everything looks bleak, he or she sometimes seriously considers filing bankruptcy. However, there are many questions about filing bankruptcy as a way out of foreclosure. Bankruptcy laws have changed and it is harder to file bankruptcy nowadays. So, homeowners have questions such as what will happen to the home that is in foreclosure, do I have to declare the home in foreclosure, will I be able to delay foreclosure with bankruptcy, what if the home is in both my name and my spouse's name then who needs to file for foreclosure and declare it? There are many foreclosure questions that come up when bankruptcy is concerned.

4) Is it possible to force the lender to make a deal with me?

Last but not least, a very popular question about foreclosure is how to make the bank or lender cooperate. It's no secret that banks are usually tough to deal with when you are in foreclosure. Sometimes, banks listen to your hardship story and try to work out a deal with you but other times lenders just file foreclosure on your home without warning. Then the next thing you know, the sheriff shows up to evict you. When faced with this scary story, homeowners desperately want to know what to do to make the bank listen and make a deal.