Start getting busy!

Fact number four: The rules change if your loan is a conventional, because these loans are not FHA or VA insured and they normally do not have a loss mitigation department, you will need haft of the amount of your reinstatement to be considered for a workout.

These are investors type loans and it will take me more time to explain what it all means than I have room for in this article.

Early I mention you are probably talking to the wrong person when you contact your mortgage lender, you need to request the name & number of the representative in the loss mitigation or foreclosure department who is assign to your case. Do not talk to the collection department or you will surely lose your home.

When making the call, be aggressive until you get the right person, if you sound like a whimp and don?t know what you are taking about, they will only react slow and put your case at the bottom of the pile. Note: Be tactful.

Request a loan workout package, complete and return the forms as instructed.

Secret: When completing the financial statement after all expenses are subtracted from the net, you must show at lease haft of your mortgage payment as a residual to qualify for a workout.

Secret: When giving your hardship statement, do not tell your mortgage lender that you mismanage your money, that is a sure case you will be deny.

Do not contact your lender?s attorney, they work for your lender not you, they can?t help you.

Tip: Give your lender all require documents. If any information is missing, it will only delay your case and their response is, why bother, if you don?t care, why should I.

You have been given some value information here that will help your save your home from foreclosure. Before you move or file bankruptcy, use these strategies first and you will be surprised that you can save your home. Until your workout is approved, start saving your money.

Bobby Johnson is a comprehensive financial planner who speaks on the topic?How to Eliminate Debt and Build Wealth? and the author of ?How to Save Your Home From Foreclosure and Not Lose Your Mind? http://foreclosurmanual.ieasysite.com/. For information on hiring Bobby to speak for your company, corporation, church or event, call 770-210-8797 or e-mailing bjohn54928@aol.com