NEEDS iCON DICTONARY
Alternative Funding is where you get funding to help you get out
of foreclosure from another source that a Mortgage lender or bank.
NEEDS iCON - LIFT PERSERVER
Whether you are late or not with your mortgage payments but know
you will be soon, make desperate calls to friends and family and ask for an
amount that will be enough to carry you for at least 8 – 10 months,
including the reinstatement amount discussed previously.
This is the true test of friends and family and it is a shame that they
most often seem not to be willing to help.
QUESTION MARK
If you, or a relative, have Stocks or Bonds you may be able to put them
on margin with your or their brokerage firm, or collateralize them with your
local bank to raise the reinstatement amount.
NEEDS LIGHTBULB
It is very possible that one of your relatives may be able to
finance your property as a second home – depending on his credit.
It is likely that he will have better credit than you because of your
mortgage default and late loan payments.
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