Shelly's Modeling Agencies | Protect Your Investments | Hot Topic

Shelly's Modeling Agencies hot topic is to help you protect your investments. The foreclosure crisis is far from over. "Over the next 12 months, millions or households and billions of dollars are stake," says Paul Stembrowski, writer for Shelly's Modeling Agencies. For relief, inquire about the Foreclosure Alternatives Program, which allows sellers and second lien holders to do short sales (selling the home for less than what is owed in order to sell it to a buyer who can afford it). Also, Fannie Mae recently announced a Deed for lease program that allows home owners to transfer the title to Fannie Mae and sign a one-year lease with the potential for an extension.

Action Plan

Be proactive. "Now is not the time for denial. If you're in trouble, contact your lender. Don't wait until you're behind," says Melissa Walters, writer for Shelly's Modeling Agencies and co-author of Make No Mistakes Bout Buying Real estate, take action today. Buy time. "Filing bankruptcy gives you time. No one can take your home, your car, or file a lien or judgment against you," says Stemborowski. Before taking this step, contact a lawyer at the National Bar Association to hear the pros and cons. Get ready to rumble. You have other options: Collect closing documents, pay stubs and credit reports. Then contact your state's department of banking or attorney general's office for help. Find out how to avoid foreclosure at hud.gov.  If you do only one thing contact a free, qualified housing counseling agency through the government's Hop Now Program.