The Foreclosure Survival Guide: Keep Your House or Walk Away With Money in Your Pocket | 
| Author: Stephen Elias
Publisher: NOLO
List Price: $21.99
Buy New: $13.24
You Save: $8.75 (40%)
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Rating:  42 reviews
Sales Rank: 22146
Media: Paperback
Edition: 1
Pages: 250
Number Of Items: 1
Shipping Weight (lbs): 1
Dimensions (in): 8.8 x 6.5 x 0.8
ISBN: 1413309100
Dewey Decimal Number: 346.7304364
EAN: 9781413309102
ASIN: 1413309100
Publication Date: September 29, 2008
Availability: Usually ships in 1-2 business days
Shipping: International shipping available
Condition: Brand New, Perfect Condition, Please allow 4-14 business days for delivery. 100% Money Back Guarantee, Over 1,000,000 customers served.
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Product Description
Facing foreclosure? Know your options!
According to Harvard's Joint Center for Housing Studies, "the number of homeowners paying more than half their income on housing rocketed from 6.5 million in 2001 to 8.8 million in 2006... The number of homes entering foreclosure nearly doubled to 1.3 million in 2007 from about 660,000 in 2005."
If you're having trouble making your mortgage payments or are already in jeopardy of foreclosure, The Foreclosure Survival Guide compassionately gives you the practical information you need, step by step.
An essential tool for anyone at risk of foreclosure, The Foreclosure Survival Guide provides key information about:
mortgages, including adjustable rate mortgages (ARMs)
short sales
deeds in lieu of foreclosure
judicial and non-judicial foreclosure
credit counseling
liens, and
using bankruptcy to deal with foreclosure.
The Foreclosure Survival Guide gathers all the information Attorney Stephen R. Elias has used to help hundreds of clients over 30 years of practicing law and shows you how to deal with foreclosure.
Like many hardworking people facing foreclosure in this rough economy, you deserve answers to your pressing questions. Thorough and easy to understand, The Foreclosure Survival Guide can help you stay in your home or walk away with money in your pocket.
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| Customer Reviews: Read 37 more reviews...
 A bankruptcy book that focuses on debtors who are facing foreclosure! September 25, 2008
Jeff Lippincott (Princeton, NJ USA)
5 out of 5 found this review helpful
I kind of liked this book. It serves a purpose and it is reasonably well written. And I'm not aware of another book for people FACING foreclosure to turn to before they seek advice and counsel from a bankruptcy attorney. The book has 10 chapters and two appendices as follows:
1. Foreclosure: The big picture
2. Foreclosure nuts and bolts
3. Can you keep your house? Should you?
4. Negotiating a workout
5. How Chapter 13 Bankruptcy can delay or stop foreclosure
6. How Chapter 7 Bankruptcy can delay or stop foreclosure
7. Fighting foreclosure in court
8. If you decide to leave your home
9. How long can you stay in your house for free?
10. Resources beyond this book
A. Glossary of Terms
B. State Information regarding foreclosure law
The book is written from the perspective of a bankruptcy attorney. The author acknowledges that he is a bankruptcy attorney. And I can verify that he knows what he is talking about regarding foreclosure and bankruptcy because at one point in my career I was a bankruptcy attorney myself. Over the years I have handled in excess of 200 Chapter 7s, 15 Chapter 13s, as well as worked for a creditor in numerous Chapter 11s. And it is not all that unusual for a debtor to be faced with foreclosure.
I probably would have written this book differently if I had been the author. The Table of Contents for the book I would write hypothetically would probably look something like the following:
0. Introduction: Debtors facing foreclosure
1. What is a mortgage? And what are foreclosures?
2. What is involved in a foreclosure lawsuit from a creditor's perspective?
3. What is involved in a foreclosure lawsuit from a debtor's perspective?
4. Bankrutcy and its Automatic Stay protection for debtors
>>Drag out the foreclosure process in order to save money for a new future
>>Chapter 7 liquidation and a new start
>>Chapter 13 reorganization and something of a new start
5. Are you facing foreclosure and you have a lot of equity in your home?
>>Debtor has no source of income or prospect of getting ajob
>>Debtor has a source of income or will get one shortly
6. Are you facing foreclosure and you have little or no equity in your home?
>>Debtor has no source of income or prospect of getting a job
>>Debtor has a source of income or will get one shortly
7. Costs and legal fees to expect if you challenge a mortgage foreclosure
A. Resources beyond this book
B. State Information regarding foreclosure law
C. Glossary of Terms
As one can see, I am not too keen on the layout of the instant book being reviewed. But the book I like doesn't exist. So we are stuck with the "The Foreclosure Survival Guide." Get a copy and read it before you seek help from a bankruptcy attorney. 4 stars!
 Practical information: Worth its weight in gold October 4, 2008
Eagle Vision (Southeastern United States)
4 out of 4 found this review helpful
The US Housing Market and the homeowners utilizing adjustable rate mortgages (ARMs) and Interest Only Loans have fallen victim on hard times. A friend of mine, a recently widowed mother of 2 children (one of which is in college), fell victim to foreclosure of her house that lived in for 15 years. I wish I had read this book prior to the loss of her home.
Outlined are the various stages of foreclosure and the practical methods of either saving your property or at least living 'rent free' before you get evicted. They cover many legitimate FREE resources that may help you negotiate your unfortunate situation. It has the tax implications regarding short selling and covers various protections under Chapter 7 or Chapter 13 Bankruptcy. A glossary in the appendix covers unfamiliar terms. An appendix in the back covers state specific guidelines on your rights and timelines (or lack thereof).
I highly recommend this book for anyone who paid for their home with with an ARM (and a leg) or an interest only loan. I also recommend this book for folks who purchased their house but then was called to active duty in the military. It is sad that I hear about people called to serve our country only to end up losing their homes (especially, when they have become disabled).
Fantastic wealth of information October 7, 2008
The Three Woods (USA proud to be an American)
4 out of 4 found this review helpful
With so many foreclosures taking place around us and with there being an uncertain future with finances, I decided to check-out The Foreclosure Survival Guide. I'm so very glad that I did. The author, Attorney Stephen Elias, writes in a very easy to understand way. He walks you through some of the hardest decisions you will have to make about your home such as "Does it make sense to give up your house instead of fighting foreclosure?" He gives great insight on ways to keep your home (if it's financially wise) and how to slow down a foreclosure to help you get your footing in life. The book also clears up what a Chapter 7 & a Chapter 13 bankruptcy is and what it means when it comes to your credit. It definitely gives you the tools you need to understand how to negotiate your way through a foreclosure. Before reading the book, I had very little understanding of what actually takes place before, during and after a foreclosure. He answered all of my questions - directed me where to search for more information and explained my state laws (WOW!) all in 10 chapters. He also lists the different mortgage scams out there and how to protect yourself from them. The final chapter gives you resources to legitimate companies, counselors, books, etc. that will help you on your way to understanding your options. If you are losing sleep over what to do with your home, I'd definitely recommend getting this book.
The Foreclosure Survival Guide - My First 5 Star Book Review In A Long Time October 9, 2008
Mark (East Coast)
4 out of 4 found this review helpful
The The Foreclosure Survival Guide: Keep Your House or Walk Away With Money in Your Pocket is a great volume on a timely topic that succeeds in two opposing areas: it covers a lot of ground yet it does not wander. NOLO press is a resource I have used in the past for a variety of legal topics. I am very picky with books in general and I make no bones about that. In the case of NOLO books, they are generally good but this text is particularly good.
Stephen Elias lists his extensive credentials, including many contributions to NOLO press and a successful bankruptcy law practice. His straightforward writing style makes this volume very readable. And the clear organization of the book also makes it useful as a reference. A very nice section goes state by state and lists some basics about the different real estate laws applicable in each one.
The book's focus goes way beyond the foreclosure process alone. It offers concrete information in several real estate and legal areas such as bankruptcy and it's relevance to real estate ownership. Clearly the focus on foreclosure will find a captive audience in the current economic climate. Still, one needn't be at risk of foreclosure in order to get something of value out of this book.
The book covers common legal practices relevant for foreclosure. The relevance of whether or not a state follows a judicial process for foreclosures is explained. The outlined worksheet makes it easier to quantify the pros and cons of keeping your property versus keeping as much money as possible in the cases where it's in your best interest to give up on the property. The author covers all the bases, including negotiating with lenders, selling your property, contemplating bankruptcy, and disputing the foreclosure.
Bankruptcy is covered in depth, which is not surprising given the author's practice as a bankruptcy attorney. The differences between chapter 7 and 13 bankruptcy are explored with the costs and benefits relative to foreclosure.
A basic treatment of forthcoming legislation provides a good primer on other options. He also covers scams to avoid, including companies who offer assistance that is not always above board. Some of those *dos and don'ts* might be obvious to some but most of us will be glad to have them.
All legal areas have complexities that cannot be covered by any single text. Many references are given, and this is a great primer. But this does not cover every possible scenario. Ultimately, if you have to go to court you will need an experienced attorney for guidance and representation.
Pros
+ Straightforward writing simplifies complex subject
+ Very well organized chapters
+ A nice state by state reference section
+ Great primer for real estate professionals
+ Good references on how to get additional information
Cons
- Won't prepare you to argue your case in court
- Can't cover every case due to complex subject
Conclusion
This book has been put together in a clean and concise way. For individuals who work in related fields, such as real estate agents or credit counselors, this is a great primer on the subject. For people facing foreclosure or interested in learning more, this book provides a nice blueprint on the key considerations. Just keep in mind that this is only a beginning and you will have a great start.
Definitely one of the better reads I've had in a while. Considering this is a reference text, that's really saying quite a lot.
Enjoy!
Arm Yourself With Knowledge October 11, 2008
Bucky (Haunted Mansion, The Magic Kingdom)
4 out of 4 found this review helpful
Nolo Press has been printing books on law and legal issues for laypeople for almost 40 years, and as someone with a legal background, I have always been impressed with their products. The Foreclosure Survival Guide is no exception. As I write this review, the US economy is undergoing an unprecedented period of turmoil as the result of irresponsible lending practices in the mortgage market. It is quite possible that some of the people reading this review are undergoing or will be undergoing the horrific process of home foreclosure. If so, my heart goes out to you. I suggest you get this book and read it carefully. It outlines the process of foreclosure (and includes a glossary for those unfamiliar with legal mumbo-jumbo), what your rights are, what the mortgage-holder's rights are, and what options you may have to prevent, forestall, or help you just survive what lies ahead. Knowledge in these circumstances may not be power, but it will tell you what to expect, which is more comforting than going through foreclosure blind. There is also a section that briefly describes each state's foreclosure rules. This book was obviously written with great compassion for people going through foreclosure, but it also offers clear-eyed advice regarding the homeowner's options. This book may give you some ideas, or inform you of rights you may not have known you had. I highly recommend it.
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