Companies Offering Help To Those Walking Away From Foreclosure

April 15th, 2008 by bhaveshbhatia Foreclosure Crisis

There are now companies coming up that offer you help with your walk-always. One of them is the San Diego based You Walk Away (check youwalkaway.com). It began in January to help homeowners take positive control of their troublesome property ownership and then let us face it, help them ultimately walk out of the entire nightmare!

The website promotes its prospective customers by alluring them into this choice with lucrative questions like, “What if you could live payment free for up to 8 months or more and walk away without owing a penny?” The site thus hunches at the unshackling of the owner from a sticky investment that probably is never going to work out anyway.

The site promotes some proven tactics that help a stressed owner to walk away. Though it does not lead you to get out of foreclosure really, what it advises is dropping out of your mortgage payment early on. Jon Maddox, the co-founder of the site and the senior property advocate around, says that the company provides emotional as well as practical legal aid to help you go through this path breaking process. The program itself is claimed to be designed healing as well as liberating from an ugly choice that the owner seemed to have made.

When registered to You Walk Away, a customer is likely going to pay $995 for an advocate to answer their query through phone or email as well as send a letter to their lender not to hackle them over the phone for further money. Customers even receive a consultation with a real estate attorney and a CPA who help them along with the cleaning up job after their credit post the foreclosure business.

As Maddox says, in the last 2 and ½ months You Walk Away has served a trifle more than 500 people. This only goes onto suggest the growing number of people trying to opt out from their ownership and with consolidating firms as these, walking out has never been a better option. Maddox says that over 70% of his customers have been people who were financially floundering and the rest of the mere 30% simply chose to walk out due to huge financial pressure that just could not be handled otherwise. When there are greater weights around their shoulder, such as feeding a family and maintaining the mere responsibilities to life, families just could not bother about owning their houses anymore. Maddox concludes that, “They’re paying too much for the title of homeowner.”