My Personal Finance Blog

Do legitimate companies exist that can really help homeowners prevent foreclosure and assist them in keeping their homes? The short answer is “yes.” However, although many legitimate companies can provide much needed help to prevent foreclosure, there is a darker side to this industry led by unscrupulous investors looking to profit by taking advantage of unsuspecting and desperate homeowners. The homeowner looking for help must find the legitimate business who can keep them in their homes without losing it and the shirt off their backs.

What homeowners need to avoid is the company who sails in with promises to save them from foreclosure by “selling” their home and leasing it back. In this scenario, a homeowner gives the home’s title to the company who either pays off the homeowner’s mortgage company, or assumes the mortgage with new terms. After about a year, the worst “angel” companies will increase rents higher than the homeowner’s actual mortgage payment – and the homeowner ends up losing the home anyway.

Mortgage Restructure

Good foreclosure specialist companies should be able to help homeowners work with their lenders to find a solution that prevents foreclosure and allows them to keep their home with new affordable mortgage terms. This may mean brokering a mortgage modification that reduces the monthly mortgage payment by reducing interest, lengthening the term, or a combination of both.

In some extreme cases, such as job loss or high medical bills, a homeowner may even get forbearance on mortgage payments for a limited time. Forbearance is an agreement that allows the homeowner to stop paying the monthly mortgage for about three to six months.

However, expect to give a foreclosure specialist some compensation for their role. Homeowners may end up paying a large fee up front for services, or even grant partial ownership in their homes to the specialist.

Short Sale

If a homeowner’s situation just doesn’t allow for a restructuring of the mortgage and foreclosure is eminent, a foreclosure specialist company can work with the mortgage company to get them agreeable to a “short sale.” A short sale occurs when the home is sold for less than what is owed on a mortgage, and the mortgage company writes off the outstanding balance. Lenders who wish to avoid the extreme cost of foreclosure may be receptive to this option. Though homeowners may end up paying a fee to the foreclosure specialist, they can successfully sell the home and walk away without the mark of a foreclosure on their credit.

Mortgage Reinstatement

If a homeowner can find a good foreclosure specialist group, they may agree to pay all mortgage payments in default, as well as all late fees and additional interest. The homeowner can then resume their normal mortgage payment without fear of foreclosure. However, though they save their home, homeowners face stiff interest and potential large payouts to the ‘angel.’ Payment plans can be reasonable from reputable foreclosure specialists, and it is critical that homeowners know beforehand what terms are required.

This article is intended for general information. Always seek sound financial and legal advice before making any financial decision.

Helpful mortgage information at Online-Home-Mortgage.net P. Payne works for OHM Mortgage and Foreclosure Information Site providing answers to all those questions people need to know.

Executive Protection – Threat Appraisal

Threat assessments only reduce uncertainty; they do not eliminate the kidnap threat entirely. Executives will have to determine the presence and degree of the kidnap threat involved in each of their particular destination locations. This includes identifying the threat groups, defining the threats, determining the threat level and the level of protection needed. Executives will also have to increase their situational awareness through personal contact and observation to fully understand the local situation.

However, executives who collect threat information are not intelligence collectors. To satisfy threat appraisal needs, many multinational corporations engage executive protection risk management firms to contribute and facilitate their threat appraisal efforts. The best firms include threat appraisal information based on local knowledge, trusted local nationals, police, town officials and key figures within the foreign military forces.

There are private companies that conduct, for an international business clientele, ongoing risk assessments of countries, cities, airports and hotels. An executive protection risk management firm can assist with overseas business planning to ensure that executives have situational understanding of the kidnap threat, unique local area conditions, hazards that may be encountered and other nasty threats to avoid as well.

When conducting your own country threat assessments and appraisals from newspapers and Internet research, make sure the information is reliable and backed up by a trusted local source. When conducting your threat assessment, you may find it useful to document threat findings under the following ratings.

General Non-Threat

In view of your threat assessment, this is an area that contains no immediate threats of kidnapping or other violence. This does not certify the area as safe nor does it signify you can let your guard down. All it means is the general area has minimal kidnap risks that do not go beyond everyday common in-country risks. These areas are commonly located in tourist and upper-class sections of the city center such as luxury hotels with high standards of security, service, accommodations and facilities, affluent shopping centers and malls and fine dining restaurants and bars. If possible, executives should restrict movements within these coordinate points. Be prepared to react immediately whether or not your area is considered a general non-threat location as kidnapping can happen anytime and anywhere.

This is an area that needs to be clearly examined for potential threats of kidnapping or other violence. These areas would include the older or poorer sections of the city, an area where the morale of the population is suspect or areas where security forces may not provide procedures that deter planned kidnappings. It’s suggested that executives do not enter these types of environments alone or after dark. A potential threat area is not inherently dangerous, which is why executives don’t normally notice them. There is no reason to fear them; it’s what lingers there that you need to avoid. Such areas may have criminal elements lurking in the shadows or shadowy organizations known to exist. Nevertheless, acts of violence do not exceed moderate levels, and these elements are not considered so intense as to require executives to avoid the area entirely. Nonetheless, executives should avoid run-down areas and poor sections commonly located at the outer edges of the city. These are potential places from which to stage an attack.

The risk of kidnapping is persistent, and there have been informational warnings within the local newspaper and on television. The area is inappropriate for executive safety, and executives are strongly cautioned from entering such areas due to the harsher kidnap risks or lower security force capabilities. These are probable places from which to stage an attack.

High Threat

The area definitely contains threats of kidnapping or other violence. Executives are strongly urged to make these types of areas “no-go zones.” It is a dangerous, crime-infested area.The threat of kidnapping is high, and executives should be restricted from such areas and take the threat rating seriously. Such areas have excessive violence, a strong history of kidnappings and are often located on the outskirts of the city or an underdeveloped part of town. These are high-risk places from which to stage an attack.  “When the enemy is close at hand and remains quiet, he is relying on the natural strength of his position.” – Sun Tzu. Keep safe out there and God speed.

Doc Rogers is the author of the new book entitled: Corporate Executive Protection – A Manual for Inspiring Corporate Bodyguards. Step-by-step instructions on providing corporate executive protection for those new to the industry as well as veterans. Doc is the Director of Dipolmatic Protection (DDP) for International Corporate Executive Protection. He is a Certified Protection Specialist and has a Ph.D in Security Administration. Prior to his appointment as DDP for International Corporate Executive Protection he was a former veteran police officer. Doc is widely regarded as the leading authority on Executive Protection In Southeast Asia and India.