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  1. Ask lender to allow you to skip 1 to 3 payments & most lenders will allow this, maybe even Equity 1 Loans.
  2. Ask lender to allow you to pay 1/2 of loan payments for 6 months & then after paying 1/2 payments for 6 months start paying 1 1/2 payment for 8 months, to get back on track, & some lenders will allow this.
  3. Ask lenders to allow you to pay interest only (nothing on principal) for the next 12 months & most lender will allow this.
  4. Refinance, get a loan elsewhere, at a cheaper interest rate, to lower your payments & most lenders will help you get a loan from another lender, no prepay penalty, including Equity 1 Loans.
  5. Get a 2nd loan that produces cash, to be used to bring the first loan up to date, if you have enough equity and payback ability to do this.
  6. Do a deed instead of foreclosure, meaning transfer deed of your house to lender & walk away free & clear of debt, liability, & property.
  7. Do a short payoff, or short sale, meaning convince lender to take a discount or loss on lenders loan & sell property for what it is worth even if it is worth less than loan balance owing.
  8. List & sell your property with a Realtor, before the foreclosure auction occurs, if you cannot or will not pay the obligations of property taxes & fire insurance & mortgage loans on your property. If you must be a “promise breaker”, then sell your property.
  9. Get a reverse mortgage, if over age 62 and if you have enough equity in your home, if you cannot or will not pay the obligations pertaining to your home.
  10. Get a job, or a 2nd job, and use your income to pay the loans and other obligations pertaining to your home/property.
  11. If divorce or loss of second income caused your loan default, then get married again to a spouse who can help you make the payments of property taxes & fire insurance & mortgage loan payments on your home/property. Marry a rich spouse, if you can.
  12. If excessive debt obligations caused you to default on your obligations pertaining to your home, then get rid of those other debt obligations by filing a Chapter 7 Bankruptcy, which will not get rid of a real estate loan, but will usually get rid of no-secured debts. Ask an attorney.
  13. Ask your boss where you work to promote you and/or increase your salary.
  14. If unexpected major home maintenance expenditures caused you to be unable to pay your mortgage loan payments, then try to be more of a “do it yourself handyman”, to save on & to prevent such expenditures.
  15. Give to your lender a catch up plan or forbearance plan, meaning offer to lender to pay 1.3 loan payments when each payment is due, to eventually catch up and reinstate the loan & thereby stop foreclosure. Give to use your own catch up plan, please.
  16. Ask the lender to let you skip 3 payments & pay them at end of loan, & many lenders will allow this. Give to use your own catch up plan, please.
  17. Ask lender to let you spread out missed/defaulted payments over a year or until you catch up, example, by paying 1.3 payments each payment due date.
  18. Ask lender to add your missed/defaulted back payments to your loan.
  19. Ask lender to postpone the foreclosure, if & while you keep property tax & fire insurance up to date & pay 1.3 loan payments each loan payment due date, until you eventually fully reinstate the loan & thereby cancel the foreclosure status. Give to use your own catch up plan, please.
  20. Cut down on restaurant lunches & save money for mortgage payments by eating more often at home.
  21. Get rid of your cell phone and use the savings to pay the mortgage loan payments.
  22. Get rid of your fancy, big, gas guzzling car and buy a cheap economy car & use the savings to pay your mortgage loan payments with.
  23. Get a second or third job and use that extra income to make mortgage loan payments with.
  24. In summer, raise your home thermostat, and in winter, lower your home thermostat, to save energy expenditures and use the savings to pay your mortgage loan payments with.
  25. Get rid of your gardener and cut your own grass, to save $80 to $100/month, & use the savings to pay your mortgage payments with.
  26. Do not file Chapter 13 bankruptcy unless you can afford to pay the bankruptcy trustee 10% of all the payments you pay to him & to pay your attorney maybe up to $4,000 & to pay the Chapter 13 payments, that the bankruptcy judge will force you to pay, which includes all mortgage loan payments plus extra payments to catch up defaulted payments plus other debts on top of that.
  27. If you have enough equity, get a new loan and pay off the defaulted “in foreclosure” loan.
  28. Stop the foreclosure by just merely fully reinstating the loan and ask lender for a full reinstatement quote.
  29. Sell your house and move into a cheaper place.
  30. Use your savings account money to reinstate the loan in foreclosure.
  31. Get cash from your life insurance and use that cash to pay the defaulted loan.
  32. Stop paying credit card payments and pay your home mortgage loan payments instead.
  33. Ask in-laws for a loan to you of cash to be used to stop foreclosure.
  34. Ask brothers and sisters & cousins & parents for a loan of cash to be used to stop foreclosure.
  35. Get a job in the early morning, like 4AM to 6AM, delivering papers, to earn $300 to $800/mo. and use that income to help pay property obligations with.
  36. Ask your spouse to get a 2nd job waiting tables at a restaurant from 6PM to 9PM, to earn maybe $300 to $800/mo. cash to be used to pay the mortgage payments with.
  37. Stop buying expensive clothes and use the savings to pay your defaulted loan with.
  38. Stop taking vacations & use the savings to pay your mortgage loan payments with.
  39. Stop life insurance payments and use the savings to pay your mortgage loan payments with.
  40. If possible, walk to work and use the gas savings to pay your mortgage loan payments.
  41. Ask your teenage children to baby-sit the neighborhood kids and use their earnings to help pay mortgage loan payments with.
  42. Sell jewelry and unused gold at home, & use the sale proceeds to pay the mortgage payments.
  43. Have a garage sale and sell everything you do not really use regularly and use the cash proceeds to cure defaults on your mortgage loan.
  44. If you have a swimming pool at your home, then fill it in & save about $200/mo. & use the savings to pay the mortgage loan payments with.
  45. Talk to your lender and most lenders will work with you to avoid a foreclosure.
  46. Do not ignore the problem, because the further behind you become, the harder it will be to reinstate your loan.
  47. Contact your lender as soon as possible & tell the lender your problems & most lenders will try to help you. Give to use your own catch up plan, please.
  48. Open and read and respond to all mail from the lender.
  49. Read, read, read, your promissory note and deed of trust so that you know what the lender can do if you default.
  50. Understand foreclosure prevention options by talking to the HUD approved housing counselor at 1-800-569-4287.
  51. Prioritize your spending and after health care, do not spend any extra money on anything except your first priority is paying your house related payments.
  52. Sell your second car, jewelry, whole life insurance policy & get cash to help reinstate your loan.
  53. Do not pay fees to any foreclosure prevention companies; instead use that money to pay your defaulted mortgage loan. Get free help/info from HUD.
  54. Do not lose your house to any foreclosure recovery scam, which most are (scams).
  55. If you live in an area declared a disaster by the President (such as hurricane, tornado, flood, fire) you may qualify for special government aid. Ask the HUD counselor.
  56. If you are in the military, you may qualify for a reduction in your interest rate, resulting in lower payments, as stated in federal laws.
  57. Be aware that lenders do not want to foreclose, because foreclosure usually results in lender losing much money, so contact your lender as soon as you have a problem.
  58. Do not lose or waste time by being overly optimistic, but be realistic and honest with yourself and your lender at all times. Give to us your own catch up plan, please.
  59. Do now unrealistically assume that your financial problems will magically correct themselves by you just doing nothing. Solve your own problems and do not expect others to solve your problems for you. Get a 2nd job now, if you are behind.
  60. Talk to a HUD approved housing counselor; it is free at Tel 1-800-569-4287, instead of talking to a lawyer that wants you to pay him a big fee of maybe $6,000.
  61. Learn how to budget your finances to prevent foreclosures.
  62. Learn how to balance & reconcile your checking account and avoid writing bad checks.
  63. Prioritize your debts (rank them in a list by importance) and put your home mortgage loan payments at the top of the list).
  64. Stop entertainment expenditures, cable TV expenditures, cell phone expenditures, manicure expenditures, beauty shop expenditures, booze expenditures, beer expenditures, residence phone expenditures, & apply the savings towards your home mortgage loan payments.
  65. Sell all your stocks and apply the sales proceeds towards paying your property taxes & fire insurance & mortgage loan payments.
  66. Take any responsible action that will save you cash and apply the cash savings towards saving your home, and catch up on real estate loan payments.
  67. If you cannot or will not pay your property taxes & fire insurance & home mortgage loan payments, then do either sell your home, or ask lender for a short payoff (lender takes loss/discount on loan if home has no equity), or let your loan be assumed (taken over) by a buyer, or deed your home to lender (deed in lieu of foreclosure).
  68. Do not sign anything that your do not understand and do read & understand everything you sign.
  69. Understand that your missing or your defaulting on or missing payments, property taxes & fire insurance & mortgage loan payments do cause a foreclosure sale to happen.
  70. Call & visit your lender at telephone number and address on the mortgage coupons and mortgage loan statements. We will counsel you free.
  71. If you are going to be laid off in future, then start now, now, now looking for a new job.
  72. If you miss loan payments and have a foreclosure, you have 2 derogatory remarks on your credit report.
  73. If you miss loan payments and have a foreclosure & file bankruptcy, you have 3 derogatory remarks on your credit report, because usually or frequently the bankruptcy does not permanently stop a foreclosure but only slows it down.
  74. Always check with your lawyer before you sign legal documents.
  75. You can get a 3rd job (part time) on weekends and that extra income can be applied on property taxes & fire insurance & mortgage loan payments. Rent out rooms in your home.
  76. Stop spending money on gambling & lottery tickets, because you are wasting your money, & apply the savings on your property taxes & fire insurance & home mortgage loan payments.
  77. Be realistic & honest & do cut your losses & sell your home, if you cannot or will not pay the property taxes & fire insurance & home mortgage loan payments.
  78. Remember it takes 3 to 8 months to sell your home at near fair market value, so allow yourself time to do that & do not wait until the last minute to decide to sell.
  79. It is not a sin to just walk away free & clear of debt, abandon your property, stick the lender with a huge financial loss, and go on about your life, especially when you have a non-recourse loan, like here in California, usually.
  80. Remember, Equity 1 Loans does not report its loan or your loan defaults or your foreclosure on your loan you owe to Equity 1 Loans to any credit bureau. So this may help avoid lowering your credit score.
  81. Remember, the only “real” thing that will stop a foreclosure is repayment of the debt and defaults and full reinstatement, everything else (especially including bankruptcy) is a costly to you delay, if you cannot or do not fully reinstate the loan.
  82. If your monthly house payment (including loan payments & property tax & fire insurance) do not exceed 45% of your gross monthly household income, it should be possible for you to pay for your home. Otherwise, get rid of your home, by either voluntarily allowing a foreclosure to happen or by voluntarily selling your home.
  83. Do not give away your home equity for free, sell it & keep the cash proceeds and move on with your life.
  84. Preserve your good credit by giving lender a deed in lieu of foreclosure, if you cannot or will not pay all obligations related to keeping your home.
  85. Get a loan to get you current, from friends or relatives, if you can pay the payments to them and your house related obligations.
  86. Do not give any money to any phony counseling agency, but instead get free counseling from a HUD approved counseling agency at Tel 1-800-569-4287 or TDD 1-800-877-8339.
  87. Go and get credit counseling, free, at Consumer Credit Counseling Service of Kern County at Tel 661-324-9628 at 5300 Lennox Ave, Suite #200, Bakersfield, CA 93309-1662, which is a HUD approved counseling agency. ESPAÑOL ES OK! HABLAMOS ESPAÑOL.
  88. Shop for cheaper home fire insurance & auto insurance by getting a quote from 4 different insurance agents & apply the savings toward paying the property taxes & fire insurance payments & mortgage loan payments. We do not charge you a big cost ($1000 to $2000) to set up an impound/escrow account, which saves you a lot of money.
  89. Treat your home as your most important possession and stop paying everything else, if possible, except obligations related to saving your home.
  90. Work with your lender, communicate with your lender, because your lender will work with you & try to help you avoid a foreclosure. Equity 1 Loans does Hablo Español and English.
  91. HABLO ESPAÑOL & INGLES, entonces llamanos!! Try to communicate with your lenders.
  92. If you are refinancing, do avoid, like the plague, all balloon payment loans, all variable interest rate loans & all prepayment penalty loans, because these features can/do frequently cause foreclosure and harm you.
  93. If you are refinancing, do avoid all loans that force you to pay for credit insurance, credit life insurance, disability insurance, unemployment insurance, health insurance, because frequently these programs are costly scams and increase your costs a lot.
  94. If you are refinancing, do not lie on a loan application, because that lie is frequently a federal & state crime & can cause you to go to jail or be sued by your lender and cause a foreclosure if you overstate your income or otherwise tell a lie.
  95. Do not pay fees/money to credit repair services, because most are scams, and the best way for you to repair your credit report is by you yourself paying your own debts on time, in full. For free advice go to Federal Trade commission at www.ftc.gov/bcp/conline/pubs/creditrepair.shtm, and please read advice there.
  96. Do not pay fees/money to any “foreclosure rescue scammers”, because they want you to pay the scammer, and the scammer will not pass on the payment to your lender. Get free advice at http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre42.shtm.
  97. A bankruptcy ruins your credit report for 10 years; a foreclosure does not ruin your credit report for 10 years.
  98. Consider giving your home away by allowing a foreclosure to occur, because usually in California, there is no lender chasing, suing, pursuing you for losses that your home loan default caused lender to suffer, because in CA most home loans are free of personal liability and are non-recourse loans and lender’s loss is not your loss.
  99. None of the sentences above are meant to be giving legal advice, so go see a lawyer and pay the lawyer his big fee if you have a legal question. Read again the last sentence!!
  100. Do not pay any “foreclosure prevention specialist” any money, because that “specialist” is usually a phony counselor charging you an outrageous fee in exchange for doing something you could do for yourself free (making a few phone calls, etc), and the “specialist” will never save your home and just takes your money, usually.
  101. Do not believe the phony scam that you can “legally eliminate your mortgage”, based on an accounting loop hole or that the lender funded your loan using borrowed money. That is a lie & does not work. To eliminate your debt/mortgage/loan, you must pay it off in full or file for Chapter 7 bankruptcy in which case you will not be liable for the promissory note but you will also lose the house. Bankruptcy does not get rid of a real estate loan or deed of trust.
  102. Please do not think that your lender is always the bad guy, because you took the lender’s cash and used it for your benefit and now you get mad/angry at the lender for the lender asking you to pay back the cash, with a little interest. Be a responsible adult in your financial affairs. Most lenders lose much more money in a foreclosure that the defaulting borrower loses in a foreclosure. Be a promise keeper, not a promise breaker.
  103. Do not blame the lender if you stopped paying your loan just because you over spend on frivolous things, or had excessive medical bills, or ended up in a messy divorce or just simply do not know how to budget and plan.
  104. Lenders do lose money, lots of money, caused by the borrower who defaults on his loan and those losses are passed on to all other borrowers by increasing costs to other properly paying borrowers.
  105. Your loan might be owned by a pension fund or a retirement plan of ordinary poor working people, so your loan default is hurting a person who depends on you to pay your mortgage loan. Your default hurts many other people!!
  106. With government insured loans, the taxpayer picks up the tab for borrowers who do not pay their debt, live for free, & then, with the help of lawyers, file bankruptcy and tie up the property for a year or so, all at taxpayer expense and cost. Please do not victimize society by you doing that. Be a responsible adult, please!! Keep your promises.
  107. If your home has no or little equity in it, then do not begrudge an investor a little profit by claiming that an investor “stole” your home from you when you sell the house to an investor just before the foreclosure date and then the investor makes a small profit.
  108. Do not get mad at someone who makes a profit from your problems, because there are thousands of businesses that make a profit from other people’s problems, including: bankruptcy lawyers, cancer doctors, class action lawyers, divorce lawyers, funeral parlors, pawn shops, hospitals & doctors, auto repair shops, etc. Get free advice concerning above at www.legalwiz.com/nclc-dreams-foreclosed, written by Attorney Bronchick.
  109. Can Government Solve The Foreclosure Problem? We say no, and why we say no can be read by you at www.legalwiz.com/can-government-solve-foreclosure-problem, written by Attorney Bronchick.
  110. If you bought a home and paid little to no down, and then you do not or cannot or are not willing to pay the property taxes and fire insurance & home mortgage payments, then you practically lose nothing in or thru a foreclosure. So why complain??
  111. Be aware, that sometimes it is best to just walk away scot free of debt liability & usually get loan forgiveness & get also income tax liability forgiveness, and let the foreclosure happen, and go on with your life, rather than causing yourself and the lender more anxiety and financial losses by trying to fight a foreclosure!
  112. Use your income tax refund to pay mortgage payments with.
  113. Remember, it is not a sin and is recommended procedure, to stop the foreclosure by making up any delinquent payments plus any costs related to the foreclosure, called reinstating the loan.
  114. Remember, it is ok to sign/deed the property to the lender instead of or in lieu of foreclosure.
  115. If you are a senior citizen or are disabled and are facing foreclosure because of unpaid property taxes, you may be eligible to postpone the payment of property taxes under 1 or 2 programs available at your tax collector.
  116. To prevent foreclosure on your home, “before you buy”, do not purchase a home you cannot pay or afford or feel pressured that you should be living up to the “Joneses”; and avoid a 100% mortgage deal because if you have equity from the beginning, then usually foreclosure never happens; avoid credit card debts; do not use your home as an ATM cash dispensing machine; set up a family budget & plan to be debt free as fast as possible; establish a savings reserve to cover at least 8 months of home debt payment in case of emergency. Do these things now!!
  117. Please take advantage of the free home loan counseling opportunities available by dialing 1-888-995-HOPE (4673), encouraged by the government of USA.
  118. Pay your mortgage payments on time, to avoid late charges.
  119. Help yourself prevent a foreclosure from occurring, using FHA Secure that allows homeowners with a history of on time mortgage payments under their original interest rates, but who missed payments after their rates reset, to refinance into FHA’s mortgage, insurance program, and other home owners with high cost mortgages & mortgages that are due to reset, but who are still current on their loans may also be able to refinance through FHA Secure. Call an FHA lender who can help you keep your home by calling 1-800-225-5342. Equity 1 Loans is not an FHA loan lender.
  120. These are the top five reasons causing foreclosure: a. temporary job loss, b. illness or injury, c. mis-prioritizing bills (spending on things other than mortgage payments), d. divorce/separation, e. expensive repairs. You can solve these problems by getting a new job, getting well fast, spending your money paying mortgage loan payments, remarrying a spouse who can help with payments, and getting rid of the car or thing causing expensive repairs.
  121. You can prevent foreclosure by reducing expenditures, such as canceling cable or gym membership; eat out less often, etc.
  122. You can prevent foreclosure by using money in your 401K, retirement savings account, as allowed by laws and rules, to pay your mortgage loan payments.
  123. You can prevent home foreclosure by allowing your car to be repossessed & use the savings to help pay your mortgage loan payments. Ride a bike!!
  124. Prevent foreclosure by paying off the loan you owe to Equity 1 Loans, with no prepayment penalty at all, which saves you up to $8,000 of cash penalty, compared to many lenders!!
  125. You can prevent home foreclosure by stopping paying your credit card payments & use the savings to help pay your mortgage loan payments.
  126. You can prevent home foreclosure by stopping paying your hospital/medical bills and using the savings to help pay your home loan payments.
  127. Prevent home foreclosure by stopping taking vacations & using the savings to help pay home loan payments.
  128. Remember, usually in CA, you do the “walk away waltz”, or “jingle mail = give the keys & mortgage back to the bank” with impunity and no future liability, for all purchase money loans, and usually on practically all real estate loans in California.
  129. Remember, the loan you owe to Equity 1 Loans is a 100% take able over, no qualifying loan, which helps you prevent foreclosure by making it easier to sell your home.
  130. Remember, the lender can start foreclosure if you default in paying the property taxes or the fire insurance or the home loan payments, so pay them to prevent a foreclosure.
  131. Remember, that Equity 1 Loans does help you prevent foreclosure by not charging a prepayment penalty, by not charging a yield spread premium, by not lending a loan a borrower cannot afford, by providing some loan documents in Spanish and by offering satisfaction or money back guarantee (see our loan docs for details).
  132. To prevent Equity 1 Loans from foreclosing on you, we urge you to give us your version of a “catch up plan” or “reinstate in installments plan” or something constructive, & we might say yes to it, instead of foreclosing on you.
  133. Does a lis pendens prevent a foreclosure? No, a lis pendens does not prevent a foreclosure. Only payment of the debt or reinstatement of the loan prevents a foreclosure.
  134. Prevent foreclosure on one property by borrowing cash on another property you own, if it has enough equity in it to enable you to get a cash loan & use the cash loan proceeds to reinstate the loan in foreclosure.
  135. Sell properties to pay your debts, is a way to prevent foreclosure!!
  136. Remember, that filing a bankruptcy does not get rid of or modify a home loan, but ask your lawyer to verify the exact truth of this last phrase. So, please pay your real estate loan & try to avoid bankruptcy and avoid paying a lawyer $4,000 to file a bankruptcy.
  137. Prevent foreclosure by selling boats, cars, stereos, electronic equipment, jewelry, the big screen TV, and use the sale proceeds to help pay property tax & fire insurance & home loan payments.
  138. Prevent foreclosure by saving the usual 6% commission paid to Realtor/broker, by selling your home yourself.
  139. Remember that a bankruptcy does not stop a foreclosure and usually only delays the foreclosure for as long as it takes the lender to petition the court and get the stay lifted from the property. Bankruptcy usually aggravates the lender, so that the lender is less likely to try to work out some sort of solution such as a catch up plan or a short sale with you.
  140. Prevent foreclosure by refinancing out of a bad home loan into a fixed rate loan.
  141. The new California law, Senate Bill 1137, does not prevent a foreclosure sale from happening in California, if you do not pay the loan as promised; it just causes it to take longer for lender to foreclose on you if you do not pay the home loan as promised. So, please pay your home loan as you promised.
  142. Remember, the CA Senate Bill 1137 forces lender to call you if you are late on your payments, so do not get mad at lender if lender obeys the law and calls you when you are late on your home loan payments. Lender is obeying the law!! We call you as the law requires us to do.
  143. You can stop the lender from calling you (as law forces lender to do), when you are in default, by signing/deeding the property to the lender or if you have hired an “entity whose primary business is advising people who have decided to leave/abandon their homes on how to extend the foreclosure process and avoid their contractual obligations”, (i.e. how to shaft the lender) per the new law, SB 1137.
  144. You can possibly help prevent a foreclosure by meeting with us, your lender, & by calling us, and talking to us about your reasons why you cannot or do not or will not pay your home loan, as you promised to pay. This meeting & talking is encouraged by the new law SB1137 of California.
  145. Be aware that Equity 1 Loans, to comply with SB 1137, did not, will not, does not file/record a notice of default until 30 days after contact or attempted contact is made in person or by phone with you/borrower to assess your/borrower’s financial situation and explore options to avoid foreclosure, OR until 30 days after lender satisfied due diligence requirements to try to reach you by phone or in person.
  146. If we are successful in meeting with you or talking with you by phone, then we do/did advise you of your right to request a second in person meeting or “by phone meeting” within 14 days of the first meeting.
  147. As required by SB1137 law we have provided you in the initial contact with you and all later contacts with you, the toll free 1-800-569-4287, free HUD Counseling Agency number.
  148. When/if we do record at the county recorder a notice of default, which recording starts the foreclosure, then the notice of default shall include a declaration that the borrower has been contacted or due diligence has been used to try to contact the borrower or that the borrower has deeded/surrendered/signed the property to the lender/us. We, as lender, do again tell you/our borrower to go to our website www.equity1loans.com to get options on how to avoid foreclosure.
  149. Lender can still foreclose, per the SB 1137, even if lender cannot or did not or failed to contact you/borrower, if lender tried to contact you, using due diligence, as the law requires, as long as lender documents or does list on the notice of default the efforts the lender made to contact the borrower.
  150. If/when a notice of trustee sale is recorded at the county recorder, and then a copy is mailed to all tenants stating that their/residents/tenants right to reside may be affected by a possible/probable foreclosure sale of the property.
  151. Please call us at Tel 1-661-398-9382 to talk to us, Equity 1 Loans, as to how the stop any foreclosure. Please do not force us to foreclose on your loan.
  152. Remember the primary purpose of our loan is to help you make money and to help you pursue your profits.

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Thank you.

Signed: Loss Reduction Dept. of Equity 1 Loans.

Call us at 661-398-9382.

Email us at info@equity1loans.com