Home Foreclosure Glossary of Terms

Much of the content found on this website and information we are requesting from you on our forms may be new to you. Here is a explanation of the most frequently used terms and why we are requesting this information from you and and why it is useful in offering options to save your home from foreclosure.

Are you employed
Do you hold any job, regardless of income amount.
Why its needed:
Employment status can affect qualifying for some government backed programs

Have you filed bankruptcy in the past 3 years; if so what type of bankruptcy?
Have you filed and successfully had a bankruptcy accepted by a court within the last 3 years. If you have what type of bankruptcy did you file.
Some forms of relief require that a home owner not be in bankruptcy, or that the home is discharged from bankruptcy.

Monthly Net income
How much money do you take home each month.
Proving to the lender that you have some income is essential to them accepting the terms of some foreclosure prevention programs.

Monthly Mortgage Payment:
How much do you pay to your mortgage company each month?
This helps calculate your overall financial health and can help the foreclosure specialist determine which solution is best for you.

Total Credit Card Debt:
How much credit card debt do you have. Including credit cards, store cards, gas cards and unsecured loans.
There are programs in addition to foreclosure avoidance to help you eliminate these high interest debts. High unsecured debt is a major factor in creating a foreclosure situation. Lenders like to see this situation changed, or to see you have made plans to change it by joining a debt relief program.

Total monthly expenses:
How much do you have to pay out to bills each month.
Your debt to income ratio is another factor in determining your financial status and the proper foreclosure assistance program for you.

Name of mortgage company:
The name of the company or individual that is listed on your monthly statements.
Foreclosure prevention companies need to know who you owe money to. In many cases they have special business relationships with individual lenders where they can craft a solution for you, that you on your own could not.

How late are you on paying your mortgage
How many months are you past due in paying your mortgage payment.
This helps the foreclosure prevention expert understand where you are at in the foreclosure process, and how much time they have to act.

Have you received a Notice of Default
Once your mortgage is about 90 days late your lender will file a Notice of Default, NOD. A copy will be sent directly to you, usually in certified mail.
A Notice of Default is not the end of your home, but it means that you have far fewer choices, and little time. You need to take action today to save your home!

Do you have a foreclosure sale date?
Once your mortgage is about 90 days late the lender will announce a date to sell your home at auction.
This date is important to a foreclosure mitigation expert as it is a hard deadline to work out another solution for you. Just because there is a sale date does NOT mean you have lost your home, but you need to act NOW.

Loan Type:
The type of loan you used to finance your home. Typically these are ARMS, Conventional, FHA or VA loans. You can review your mortage statement to determine the type of loan you have.
Different loans have very specific remedies to avoid a home foreclosure. This information gives a home foreclosure expert an immediate understanding of what solution will work for you, and can act FAST for you.

Home Type:
The type of dwelling (place you live in) is classified as. Common home types are:

Single Family
Multi-Family
Condominium
Town Home
Mobile Home
Manufactured Home

Your homes sale value:
A conservative estimate, or recent home appraisal amount of what your home could sell for today.
This is important to determine if you qualify for some government programs, or if it is possible to provide you with a "bail-out" loan to pay off your back due mortgage payments and become current again.

Mortgage Balance:
How much do you currently owe on your the mortgage that is nearing foreclosure.
Another factor that helps determine your financial status, and if your equity can be used to save your home.

Your comments:
Every home owners situation is different. We ask that you provide us with short relevant facts about your situation that will help the foreclosure mitigation expert determine the best course of action fast.

If you do not qualify for a Government based homeowner's program and you want to understand what other options are available to you we will connect you with a free consultation. Just provide the details on your situation below and a home foreclosure prevention expert will contact you and answer all your questions.

	Please provide the details of your situation so a foreclosure expert can quickly review your case and provide you with realistic options to try to save your home.
	First name:  Last name:  Address:  City:  State:  Select state Alabama Alaska Arizona Arkansas California Colorado Connecticut D.C. Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Zip:  email :   Home phone:  - - Work phone:  - - Contact me at:  Select time Now Primary Phone Now Alt Phone Alt Phone PM Alt Phone AM Primary Phone PM Primary Phone AM  Title Holder is 62 or older? Yes No Your Expenses and Income About your home and mortgage Are you employed?:  Yes No Name of mortgage company: Have you filed bankruptcy in the past 3 years Yes No How late are you on paying your mortgage:  Please select 1 month 2 months 3 months 4 months 5 months 6 months 7 months 8 months 9+ months If so, what chapter? No Bankruptcy Chapter 7 Chapter 11 Chapter 13 Have you received a Notice of Default? Yes No Monthly income: Do you have a foreclosure sale date? MM/DD/YYYY Monthly Mortgage Payment:  Loan Type:  Please Select Conventional FHA Loan VA Loan Other Total Credit Card Debt: Please select None $3,501-$4,000 $4,001-$4,500 $4,501-$5,000 $5,001-$6,000 $6001- $7,000 $7,001-$8,000 $8,001-$9,000 $9,001-$10,000 $10,001-$12,500 $12,501-$15,000 $15,001-$17,500 $17,501-$20,000 $20,001-$22,500 $22,501-$25,000 $25,001-$27,500 $27,501-$30,000 $30,001-$32,500 $32,501-$35,000 $35,001-$37,500 $37,501-$40,000 $40,001-$42,500 $42,501-$45,000 $45,001-$47,500 $47,501-$50,000 $50,001-$52,500 $52,501-$55,000 $55,001-$57,500 $57,501-$60,000 $60,001-$62,500 $62,501-$65,000 $65,001-$67,500 $67,501-$70,000 $70,001-$72,500 $72,501-$75,000 $75,001-$77,500 $77,501-$80,000 $80,001-$82,500 $82,501-$85,000 $85,001-$87,500 $87,501-$90,000 $90,001-$92,500 $92,501-$95,000 $95,001-$97,500 $97,501 -$100k $100k - $150k $151k - $200k Over $200,000 Home Type:  Please Select Single Family Multi-Family Condominium Town Home Mobile Home Manufactured Home Total monthly expenses:  Your homes sale value:  Please select None $10,000-$12,499 $12,500-$14,999 $15,000-$17,499 $17,500-$19,999 $20,000-$22,499 $22,500-$24,999 $25,000-$27,499 $27,500-$29,999 $30,000-$32,499 $32,500-$34,999 $35,000-$37,499 $37,500-$39,999 $40,000-$42,499 $42,500-$44,999 $45,000-$47,499 $47,500-$49,999 $50,000-$52,499 $52,500-$54,999 $55,000-$57,499 $57,500-$59,999 $60,000-$62,499 $62,500-$64,999 $65,000-$67,499 $67,500-$69,999 $70,000-$72,499 $72,500-$74,999 $75,000-$77,499 $77,500-$79,999 $80,000-$82,499 $82,500-$84,999 $85,000-$87,499 $87,500-$89,999 $90,000-$92,499 $92,500-$94,999 $95,000-$97,499 $97,500-$99,999 $100,000-$102,499 $102,500-$104,999 $105,000-$107,499 $107,500-$109,999 $110,000-$112,499 $112,500-$114,999 $115,000-$117,499 $117,500-$119,999 $120,000-$122,499 $122,500-$124,999 $125,000-$127,499 $127,500-$129,999 $130,000-$132,499 $132,500-$134,999 $135,000-$137,499 $137,500-$139,999 $140,000-$142,499 $142,500-$144,999 $145,000-$147,499 $147,500-$149,999 $150,000-$152,499 $152,500-$154,999 $155,000-$157,499 $157,500-$159,999 $160,000-$162,499 $162,500-$164,999 $165,000-$167,499 $167,500-$169,999 $170,000-$172,499 $172,500-$174,999 $175,000-$177,499 $177,500-$179,999 $180,000-$182,499 $182,500-$184,999 $185,000-$187,499 $187,500-$189,999 $190,000-$192,499 $192,500-$194,999 $195,000-$197,499 $197,500-$199,999 $200,000-$202,499 $202,500-$204,999 $205,000-$207,499 $207,500-$209,999 $210,000-$212,499 $212,500-$214,999 $215,000-$217,499 $217,500-$219,999 $220,000-$222,499 $222,500-$224,999 $225,000-$227,499 $227,500-$229,999 $230,000-$232,499 $232,500-$234,999 $235,000-$237,499 $237,500-$239,999 $240,000-$242,499 $242,500-$244,999 $245,000-$247,499 $247,500-$249,999 $250,000-$252,499 $252,500-$254,999 $255,000-$257,499 $257,500-$259,999 $260,000-$262,499 $262,500-$264,999 $265,000-$267,499 $267,500-$269,999 $270,000-$272,499 $272,500-$274,999 $275,000-$277,499 $277,500-$279,999 $280,000-$282,499 $282,500-$284,999 $285,000-$287,499 $287,500-$289,999 $290,000-$292,499 $292,500-$294,999 $295,000-$297,499 $297,500-$299,999 $300,000-$302,499 $302,500-$304,999 $305,000-$309,999 $310,000-$314,999 $315,000-$319,999 $320,000-$324,999 $325,000-$329,999 $330,000-$334,999 $335,000-$339,999 $340,000-$344,999 $345,000-$349,999 $350,000-$354,999 $355,000-$359,999 $360,000-$364,999 $365,000-$369,999 $370,000-$374,999 $375,000-$379,999 $380,000-$384,999 $385,000-$389,999 $390,000-$394,999 $395,000-$399,999 $400,000-$404,999 $405,000-$409,999 $410,000-$414,999 $415,000-$419,999 $420,000-$424,999 $425,000-$429,999 $430,000-$434,999 $435,000-$439,999 $440,000-$444,999 $445,000-$449,999 $450,000-$454,999 $455,000-$459,999 $460,000-$464,999 $465,000-$469,999 $470,000-$474,999 $475,000-$499,999 $500,000-$524,999 $525,000-$549,999 $550,000-$574,999 $575,000-$599,999 $600,000-$624,999 $625,000-$649,999 $650,000-$674,999 $675,000-$699,999 $700,000-$724,999 $725,000-$749,999 $750,000-$774,999 $775,000-$799,999 $800,000-$824,999 $825,000-$849,999 $850,000-$874,999 $875,000-$899,999 $900,000-$924,999 $925,000-$949,999 $950,000-$974,999 $975,000-$999,999 Over 1,000,000     Mortgage Balance: Please select None $10,000-$12,499 $12,500-$14,999 $15,000-$17,499 $17,500-$19,999 $20,000-$22,499 $22,500-$24,999 $25,000-$27,499 $27,500-$29,999 $30,000-$32,499 $32,500-$34,999 $35,000-$37,499 $37,500-$39,999 $40,000-$42,499 $42,500-$44,999 $45,000-$47,499 $47,500-$49,999 $50,000-$52,499 $52,500-$54,999 $55,000-$57,499 $57,500-$59,999 $60,000-$62,499 $62,500-$64,999 $65,000-$67,499 $67,500-$69,999 $70,000-$72,499 $72,500-$74,999 $75,000-$77,499 $77,500-$79,999 $80,000-$82,499 $82,500-$84,999 $85,000-$87,499 $87,500-$89,999 $90,000-$92,499 $92,500-$94,999 $95,000-$97,499 $97,500-$99,999 $100,000-$102,499 $102,500-$104,999 $105,000-$107,499 $107,500-$109,999 $110,000-$112,499 $112,500-$114,999 $115,000-$117,499 $117,500-$119,999 $120,000-$122,499 $122,500-$124,999 $125,000-$127,499 $127,500-$129,999 $130,000-$132,499 $132,500-$134,999 $135,000-$137,499 $137,500-$139,999 $140,000-$142,499 $142,500-$144,999 $145,000-$147,499 $147,500-$149,999 $150,000-$152,499 $152,500-$154,999 $155,000-$157,499 $157,500-$159,999 $160,000-$162,499 $162,500-$164,999 $165,000-$167,499 $167,500-$169,999 $170,000-$172,499 $172,500-$174,999 $175,000-$177,499 $177,500-$179,999 $180,000-$182,499 $182,500-$184,999 $185,000-$187,499 $187,500-$189,999 $190,000-$192,499 $192,500-$194,999 $195,000-$197,499 $197,500-$199,999 $200,000-$202,499 $202,500-$204,999 $205,000-$207,499 $207,500-$209,999 $210,000-$212,499 $212,500-$214,999 $215,000-$217,499 $217,500-$219,999 $220,000-$222,499 $222,500-$224,999 $225,000-$227,499 $227,500-$229,999 $230,000-$232,499 $232,500-$234,999 $235,000-$237,499 $237,500-$239,999 $240,000-$242,499 $242,500-$244,999 $245,000-$247,499 $247,500-$249,999 $250,000-$252,499 $252,500-$254,999 $255,000-$257,499 $257,500-$259,999 $260,000-$262,499 $262,500-$264,999 $265,000-$267,499 $267,500-$269,999 $270,000-$272,499 $272,500-$274,999 $275,000-$277,499 $277,500-$279,999 $280,000-$282,499 $282,500-$284,999 $285,000-$287,499 $287,500-$289,999 $290,000-$292,499 $292,500-$294,999 $295,000-$297,499 $297,500-$299,999 $300,000-$302,499 $302,500-$304,999 $305,000-$309,999 $310,000-$314,999 $315,000-$319,999 $320,000-$324,999 $325,000-$329,999 $330,000-$334,999 $335,000-$339,999 $340,000-$344,999 $345,000-$349,999 $350,000-$354,999 $355,000-$359,999 $360,000-$364,999 $365,000-$369,999 $370,000-$374,999 $375,000-$379,999 $380,000-$384,999 $385,000-$389,999 $390,000-$394,999 $395,000-$399,999 $400,000-$404,999 $405,000-$409,999 $410,000-$414,999 $415,000-$419,999 $420,000-$424,999 $425,000-$429,999 $430,000-$434,999 $435,000-$439,999 $440,000-$444,999 $445,000-$449,999 $450,000-$454,999 $455,000-$459,999 $460,000-$464,999 $465,000-$469,999 $470,000-$474,999 $475,000-$499,999 $500,000-$524,999 $525,000-$549,999 $550,000-$574,999 $575,000-$599,999 $600,000-$624,999 $625,000-$649,999 $650,000-$674,999 $675,000-$699,999 $700,000-$724,999 $725,000-$749,999 $750,000-$774,999 $775,000-$799,999 $800,000-$824,999 $825,000-$849,999 $850,000-$874,999 $875,000-$899,999 $900,000-$924,999 $925,000-$949,999 $950,000-$974,999 $975,000-$999,999 Over 1,000,000 Comments to help us understand your situation: 250 characters left.