The table of contents pretty much lays out what you should expect to find in this book. Considering the market this book is aimed at, it does a very good job of simplifying things for the average reader. It would be nice if some real-world examples were given in addition to the textbook procedures though. I have to imagine that the policies of some banks and other organization may stray from the rules laid-out here.

In all, it is an excellent starting point and resource for those who wish to find some simple answers to some very complicated questions.

Tips to help you get your finances and your credit back on track. Attorney Stephen Elias, author of "The Foreclosure Survival Guide," shares his advice for people with low credit scores or who have recently undergone a foreclosure.

This book offers alot of advice and strategies on how to resolve a foreclosure situation in your favor and how to avoid all of the 3rd party non-lendor sponsored programs that make promises that have no prayer of ever being fulfilled.

This is the first book I have ever seen that offers straight forward plain language advice on how to engage a lender in negotiating with the borrower on a potential foreclosure and what the potential pitfalls of the variety of solutions that are out there.

NOTE: All lenders policies are different, one strategy will work for one specific lender may not work for another. There are many factors involved in situations on whether to forclose or take some other action.

Negotiations in good faith and getting to the right people on behalf of the lender seem to be a large part of the battle in working out a situation. Many lenders are balancing employees between home retention and loss mitigation to keep their regulators off of backs. In other words with a lender in that category, you need to be even more documentation conscious, because everything they do will to look like they are the good guy, especially when they did nothing to assist the borrower or even try.

Portfolio Lenders like ING and locally chartered FSB's that hold their own loans are good examples, with few exceptions. Big servicers like Countrywide, Wells Fargo and Bank of America are more likely to come up with a workable solution because they have dedicated large resources and authority to achieve speedy and cost effective resolutions.

This book helps determine how you are positioned and what your first and the subsequent steps are.

-WE

There are a lot of people out there who are thinking about foreclosure right now. If you are one of them, you owe it to yourself to read this book first. There ARE consequences to walking away from a house and this book spells them out for you in great detail.

It also tells you when the consequences are worth enduring.

It covers the specific laws in each state and it is very up-to-date, even including a law that was just passed in October (although it was a bill at the time of writing).

The main thing you need to know is that if you call someone with an ad on TV to help you, that person plans to make money off of your foreclosure. And if you are foreclosing, that may be money you don't have. Also, they may recommend a course of action that nets them the most money, but is not the best course of action for you.

The book has none of that bias. Once they have your modest purchase price they are done trying to get money from you, so the authors lay out the pros and cons of each action and let you decide if you need to allow your home to be foreclosed on, or if bankruptcy is your option, or if there might be another option that is best for you.

At the very least, if you end up getting help from someone else you will be educated on the process and terminology and you will know what they are talking about.

I highly recommend investing a little reading if you are considering a life-changing event like this. Foreclosure is not as simple as handing over the keys to your house and walking away - and this books explains exactly what is involved to you.

If you an unfamiliar with NOLO books, they are a handy, and readable!, option for the rest of us who are not lawyers to get some education in the topics they cover. Often, you can learn enough to do some things yourself, or at least be better informed when you do retain an attorney.

This book covers the topic of foreclosure, which is especially timely given the economy today and a number of other factors, including ARMs that are switching to higher rates. As part of the foreclosure discussion, you get some background on Chapter 7 and Chapter 13 bankruptcy and how that may factor in. The text does a decent job of covering a number of different issues, including the Hope for Homeowners program and options for reduced interest rates for active duty military homeowners. The content about avoiding scams is especially appreciated to raise awareness when you may already be in a vulnerable position!

So, whether looking to delay foreclosure, fight foreclosure, or how to leave your home, this is a good background reader to understand options that may be available to you. The book closes with a reference section of resources beyond the book. At under 280 pages, it cover a range of material without burying you in reading, though some may desire additional detail in the option(s) they choose to pursue.

The Foreclosure Survival Guide by Stephen Elias is a book for the turbulent economic times that have us shaking our heads in dismay. I have a close friend who lost his job and is facing foreclosure on a home he purchased a couple of years ago. This is exactly the resource he and others need who are facing this or a similar situation.

I particularly appreciated the information in the appendix that gives the various aspects of the foreclosure for every state. This proved to have valuable information for my friend in regard to the time that he had to respond to a foreclosure notice.

This book is well-written and easily understood whether or not readers have much previous knowledge on the various subjects covered. Different options available to homeowners are explained and expanded upon to help them decide which avenue they should pursue. The options discussed are a short sale, a deed in lieu of foreclosure, letting the foreclosure happen and staying in your house until you get a notice to leave, and filing for Chapter 13 and Chapter 7.

Attorney Elias cautions readers that there are con artists who prey upon those facing foreclosure with rescue scams. If they contact a person, it is usually a con; however, if you, the homeowner contact a legitimate nonprofit housing counseling agency, that is an entirely different situation. As a matter of fact, he recommends agencies for you to consider.

I found it particularly interesting that the author deals with the emotional aspects of losing a home and I believe that his words will bring comfort to those who are facing this loss. He reminds readers that there is a difference between a house and a home. He personally appears to prefer renting to buying his living quarters.

Although I have only touched upon a few basic topics contained in this book, I feel that it is indeed a worthwhile read for those who are facing the loss of their home. It gives such individuals more control over a situation in which they probably feel very helpless. Timing is important so if you or a friend are facing foreclosure, purchase this book and become informed as to all the available options and legal rights.

So I must admit to being skeptical when I first got this book. I tend to believe most books on finance and such are times to sell but not up to date or don't give usable information. I was wrong. This book is both informative, up to date, and walks the reader through step by step of what top expect, what there options are, and the follow through of those options. The most importent feature of the book is a state by state break down of each states basic Foreclosure laws. After reading the book you'll have a better understand of both your situation, your options, and maybe even a little light at the end of the tunnel.

Since my wife is a real estate broker, I decided to read this book and got a better idea of foreclosure through it. Attorney Stephen Elias has done his homework in regards to options for anyone threatened with foreclosure and presents his information in a positive upbeat way. Elias doesn't look at foreclosure as gloomy or the end of the world but he offers the reader options for what to do. He shares when to either keep the house or get rid of it, the options of Chapter 7 and Chapter 13 bankruptcy, dealing with housing counselors, lawyers, real estate brokers and mortgage brokers. Elias shares other information resources and information about foreclosure among each of the 50 states. Anybody who is either a realtor or trying to sell their house should read this book.

If your home is going into foreclosure....or you know friends or neighbors facing this troubling situation.......If you do --this book will help you.

This is not the bible or the encyclopedia on foreclosures...but it offers up quite a bit of information concerning different forms of foreclosure...how different states usually handle forclosures--and what you can do to slow or stop them.

I found this book to be so very informative--giving me the basics on how this thing works...One thing I learned is that each state handles them differently. I didn't know that--or even think about that.

Anyway---now I have at least the basics under my belt--therefore being able to offer some information to others--there is just so much of it going around these days---that it seems someone is being touched by it in one way or another.

I've rated this book in the median position...its not a great book---but it has enough information in its pages--to recommend it to others.

This expert review comes from my lovely wife:

"If you are not facing foreclosure, you might think this book would just be a waste of time. But the first few pages really caught my interest. It was easy to read and understand and the format makes it simple to look for something specific if you want only certain information.

"This book is something any homeowner would benefit from in these uncertain economic times. There is great information about what to do to avoid foreclosure and how to make the process work to your advantage if it should come to that.

"It seems that the increasing number of foreclosures may have changed the way foreclosure works and it never hurts to be well informed about something which could impact anyone. I was very surprised to learn that there is so much you can do to effect how you experience foreclosure, it doesn't have to run you down like a freight train. You can have some control. For that insight alone, this is a very valuable book."

We have already recommended this book to others. In these troubled times (and what times aren't?), it's a handy volume to keep nearby either for yourself or to share with someone who faces this issue.

Reading this guide gave me a better understanding of the process of foreclosure. The guide is written well in that the basics are indeed simple and easy to understand, which is how most processes should be written. I really liked how the guide is structured to follow the process of foreclosure as it progresses. It helps the readers understand how the choices they make point the way to their desired destination.

Been there, if only I had owned this book.
DO NOT go into foreclosure without reading this first!!
Tells every possible step to save your home, and also WEHN to let the bank have it.
And HOW.
Cannot think of a thing that was left out!
Worth every penny!

Pros:

1. Good tips on keeping your house, saving money, getting out of debt, the foreclosure process in general.

2. Short sales, deeds, etc.. its all here.

Cons:

1. Could be more in depth on some of the things mentioned above.

Overall a good reference.

I bought this for an acquaintance who was on the brink of foreclosure with the stipulation that he review it for me in return. Although he agreed to the terms of this deal, he reneged when he was offered a bail-out through the recently negotiated settlement with Countrywide showing, I guess, that a deadbeat is a deadbeat in any guise (No, this person wasn't duped into his mortgage, he really is just a deadbeat, although a likeable enough deadbeat).
I took it upon myself to read through this guide and found it informative and helpful. I learned some things that I didn't know about the process and believe that the information it contains likely will be of use to anybody who is going to be foreclosed upon (if in no other way than it supplies the reader with the tools to remain in his house for a few extra months during the process). I also believe that this book is most helpful because it offers a clear and understandable explanation of the process and what one can expect along the rough road ahead, thus lessening some of the fear that comes from the unknown. The book doesn't offer any miracle cures: If you are genuinely in trouble, you will likely remain so, but it really does give you some tools to employ to ensure that you get the maximum benefit out of the process.
My complaint about the book is that it is printed in a way that wastes a lot of space. In other words, the publishers seem to use large type, broad spacing and generous page size to create the illusion of a weighty tome. This book could be much more compact without losing anything in readability. In fact, I would argue that it would be easier to read if a more manageable size. Reducing the size might also have allowed for a lower price, even if only a dollar or two. Don't you think that would have been helpful to its intended audience?

"The Foreclosure Survival Guide: Keep Your House Or Walk Away With Money In Your Pocket" by Attorney Stephen Elias, Author of "How to File for Chapter 7 Bankruptcy" is if nothing else, very timely. Unfortunately so, the rise in foreclosures this past year makes a book like this most welcome for many people going through foreclosure, or for those that the dreaded fear of foreclosure looms overhead.

In these uncertain times, with more foreclosures than ever before, a book like this will be very helpful to many people. If you have received a formal foreclosure notice, or are being threatened with foreclosure, this book will guide you through the process and your options. If you just want to know more about foreclosures, this is a very easy primer on the topic.

While the book is written by an attorney, it is written for the layperson to easily understand foreclosures and options. It starts out with an overview of what to expect and then proceeds into the nuts and bolts of foreclosures.

From there, the book discusses emotional aspects of having your house foreclosed upon, and if it makes sense to attempt to keep your house or not. There is a chapter on negotiating a workout, and chapters on how Chapter 13 and Chapter 7 bankruptcies can delay or stop your foreclosure. Elias includes a chapter on fighting foreclosures in court, and what you can do when you decide to let the foreclosure proceed and leave your home. There is even a short chapter on how long you can stay in your house for free. As the title of this book suggests, it is for the home owner who is facing foreclosure, not the bank. It is suggested that the money you save by being in your house for free can be the start money you need to find another home.

There are a number of pages of resources that may help those during foreclosures or before. It is also good that Elias points out some of the scams that go on and how certain "foreclosure rescue" companies are just looking to scam you and take the little money you have.

The book concludes with a decent glossary of terms related to foreclosures and a brief description of each of the 50 State's laws on foreclosures. This short summary of laws is enough to get the reader pointed in the right direction when researching the laws that govern the foreclosed property.

If you know nothing about foreclosures and want to for whatever reason; you want the information, you may be facing a foreclosure in the near future, or you are facing one now, this book is a great primer on the topic. While I don't practice in the areas of foreclosure or bankruptcy, this book provided me with additional information for those calls I sometimes field from people that need more information regarding these issues.

I just wish there weren't so many people that need this book.

Reviewed by Alain Burrese, author of Hard-Won Wisdom From the School of Hard Knocks and the dvds: Hapkido Hoshinsul, Streetfighting Essentials, Hapkido Cane, the Lock On Joint Locking Essentials series and articles including a regular column on negotiation for The Montana Lawyer. Alain Also wrote a series of articles called Lessons From The Apprentice.

For the curious or the interested, this book is hard to beat. Updated for today's real estate and financial situation, just about all the basics are described here. Very concise and clear, easy to read, and full of interesting facts and laws, this fine resource book should be read by just about any home-owner or real estate pro out there! FIVE STARS!

This book on foreclosure is an excellent introduction for individuals facing foreclosure or for those who simply wish to learn a little more about foreclosure. This is not a book for experts, attorneys, mortgage brokers, etc. This provides very helpful information throughout. In the end, it provides information specific to laws and statutes from each state. It really seemed to encourage the reader to first work with lenders, empowering readers to try and be responsible and deal early with potential problems head on rather than waiting until its too late. However, it provides useful information on the foreclosure process as well. Overall, if you are facing foreclosure or you're a novice wanting to learn more, this is a fine introduction. It's a quick read! I didn't find that it included difficult material, as it well could have. A fine book. B+!!!

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.

I'm an attorney and ordered this book for two reasons: (1) I'm getting more and more questions from those who are having financial difficulties and (2) opposition research. I do not represent debtors but all lawyers get hit up for advice in areas where they do not regularly practice (relatives, friends, etc.). I wanted something handy and concise that summarized the major points. This book does a good job in that respect. Also, while I don't regularly represent creditors, I frequently encounter situations where it is good for me to see how debtors think and anticipate what kinds of actions their advisors may tell them to take. This book was also good in that respect.

Overall, the book is simple and intuitive and contains good advice. I thought the advice to debtors about how to avoid scams was particularly insightful. I would only stress that people who are concerned about losing their home would be best to buy the book BEFORE they get a foreclosure notice. The earlier you get started on taking defensive measures, the better.

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!

The average homeowner facing foreclosure probably knows very little about the subject. One would assume it is often a circumstance fraught with uncertainty, anxiety, and other deep emotions. Attorney and author, Stephen Elias, cuts through the veil and provides a solid groundwork to understand foreclosure and related themes (bankruptcy, taxation, etc.). He recognizes that many needing such a resource may be beside themselves over the fear and shame of defaulting on a mortgage or losing a home. Having worked with hundreds of individuals facing just that prospect, his voice is rational and comforting. He succeeds in reassuring the reader that it is not the end of the world. He then proceeds to provide very practical no-nonsense advice on the steps looming ahead.

The author recognizes that the regulatory and lending landscape is evolving due to the sharp increase in current and projected foreclosures. In addition to providing updates on the latest regulatory action as of publication, he provides website resources for future updates post-publication. The book also lists contact information for resources available to assist with the process.

An appendix includes an at-a-glance listing of the basic regulations by state. It may have been useful to provide more narrative and explanation in this section, but adding too much detail could have quickly gotten out of hand. Also included is a brief glossary.

Though mentioned in passing, I would have welcomed more commentary or information on the long term effects of foreclosure or bankruptcy on one's credit rating. To be fair, a lot of variables make forecasting the impact with precision impossible. Some general guidelines, however, would have been nice.

The body of the book does end rather more abruptly than I would have liked. The final chapter provides information on additional resources available and ends by offering advice on researching state statutes. It would have been nice if he then provided a closing word summing up the work or wishing the reader well. That would have jibed more with the compassionate conversational tone throughout the rest of the work.

Overall, this book is a great primer for anyone facing foreclosure.

This is a really good book. It gives practical and sensible advice about foreclosing. It is easy to read and understand. It was written for everyday people to learn and know and understand. This is probably the best book ever that was written on this subject. Buying a house and foreclosing are serious matters. Therefore, this book is a necessity for anybody who has ever bought a house or who might ever buy one in the future.

The Foreclosure Survival Guide made it to the market a perfect time! In fact, the author, has several great financial management books available.

This book offers great information for anyone seeking to save their home, including, but not limited to: debt management, budgeting, financial terminology, bankruptcy, foreclosure, short sales, state information, and much more. In short, this text is highly recommended.

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.

Before I begin, I want to give some disclosures:

1) I have little respect for people who walk away from debts. Remember when you borrow money, you are entering into an agreement to pay it back. You are not "saddled with debt;" you signed up for it. I think it's dishonest to walk away from your home and still keep money.

2) As with all books that discuss legal or tax matters, you should consult a legal or tax expert.

3) I appreciate the state by state lisitng of rules regarding foreclosures.

4) While I don't like what's going on, I would rather see people work things out. A bunch of unsold and foreclosed homes are not good for the overall economy. But I don't think the rest of us should be repsonsible.

Despite my opposition to running away from debt, the reality is many Americans are screwed because of bad judgement. Some have legitimate issues due to health or job losses.

That being said, the author does provide some advice on how to work things out before a foreclosure. There is advice on short-sales, how and when to use chapter 7 bankruptcies and when to use chapter 13 bankruptcies. There's also advice on how to avoid scams, and which professionals may be able to assist you.

So if you if are heading down this road or you may be looking to learn how to pick up homes from those who made bad judgements, buy this book.

I've been keeping an eye on the market for some time now, and pretty much gave up on the amount of incorrect information on the Internet. Half of it is wrong, and the other half is part of a scam. So this book is a real breath of fresh air. The author clearly outlines all the information you need to work with a lender, and describes what you need to know to get done what you want. While I am not personally in the situation where I'd need the information in the book, it is good to learn what banks can and can not do, as it will assist me in offering help to others who do not have easy access to this information.

The book is well written, like most other Nolo publications, and the author is honest and very easy to understand.

Bottom line; anyone who owns a house should read this book, even if they are current on their property. Banks have proven in recent weeks that they don't care about anyone, so it pays to be one step ahead of them.

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).

The Foreclosure Survival Guide: Keep Your House or Walk Away With Money in Your Pocket was selected because one just never knows what might happen in this economy.

I expected a dry read and to some extent it is, but I was very surprised how accessible the author, Stephen Elias, made the information.

From describing the differences between the types of bankruptcy to reasons why foreclosure might not be a bad thing, Mr Elias made the information easily digestible and memorable. That is what makes the information helpful.

Mr Elias provides real world examples with down to earth advice and it makes the process of foreclosure seem less formidable.

This may not be the end-all book on the topic of foreclosure, but for those who are thinking of foreclosure as a possible reality, it is a great start to understanding the process of it and how it can be survived.

Definitely recommended.

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.

The Foreclosure Survival Guide is a no nonsense book of advice for people who need it most. Real estate books tend to be full of fluff and questionable legal advice. It is fantastic that the good folks at Nolo have produced a straight forward legal guide to foreclosures. It discusses options that you have in foreclosure, new bankruptcy laws and provides warnings about the sharks who prey on the troubled homeowner.

It is well written and has an appendix for individual state laws regarding foreclosure. While the book won't replace a lawyer, it may help you avoid some very costly pitfalls and focus on possible strategies that will help you in your situation.

As a real estate professional, I will be recommending it to investors/homeowner clients. This book is destined to be an important title for 2008/2009. If you are in foreclosure, I can't think of a better place to start than this book.

Wow, this is a good book. The subjects of bankruptcy and foreclosure are shrouded in myth and urban legend - fueled by outlandish stories and frightful tales. This book gives you a "no nonsense", straight to the facts approach. Here are just a few of the questions it helps you answer:
-Should I declare chapter 7 bankruptcy?
-Should I declare chapter 13 bankruptcy?
-I am being foreclosed on, how can I keep my home?
-Should I try to save my home?
-Do I need an attorney (in the vast majority of cases, no)?
The best parts about this book are:
-It is written in plain English, so you don't need a law degree to understand it
-It is an easy & interesting read (I started it and couldn't put it down, so I finished the whole thing in one night!)
-It has a glossary at the back for legal terms that must, on occasion be used
-It has an appendix at the back that summarizes the particulars for each state (the rules are different in each state)
-It is VERY well organized, so you can jump right to the parts that pertain to you, and skip the stuff that doesn't (without missing anything important)
-It explains what is true, and what is a common myth (and where that myth comes from)
-It contains links to websites that keep reference material current (as laws change, the book stays useful)
-If you go down any of the foreclosure/bankruptcy paths, the book walks you through specific timelines (what exactly you need to do, by when) with tips and pointers on how to do it

Handy size guide to all the aspects of foreclosure. Covers types, when to, how to, pros, cons of all choices. Negotiate with lender, walk away, sell, or go bankrupt? Ends with an excellent Glossary of terms. Recommended for anyone concerned with, or curious about, foreclosures, even beginners.

I'm typically a big fan of Nolo products and as someone who does a little real estate investing and writing, I jumped at the opportunity to grab this title as a quick reference. Unfortunately, the book was a bit on the simplistic side to use as a reference; for example, it was written just before the new housing legislation was passed shortly after (Notice - review is for advance proof copy of book) so only the most basic info was covered. Likewise, a great deal of the other information was a bit simplistic and assumes the reader has little to no background information or understanding of foreclosures, how mortgages work, self protection in dealing with predatory schemes etc...

So, in a nutshell, it wasn't nearly as "in depth" as most of Nolo's offerings BUT for someone actually facing foreclosure, especially someone with limited understanding of the mortgage process etc, this would be a very good book. Not only would it help walk you through what to expect, consider all your options and then help avoid predatory schemes but it takes the reader step-by-step with what to do/when and how much you should expect to pay along the way.

The resource section of the book may also come in handy for investors or short sale buyers interested in properties across state lines; item such as which states deal in mortgages versus deed of trust, which states typically participate in judicial versus non-judicial judgements etc are certainly worthe more than the purchase price of the book itself.

Easy to read, a bit lighter on substance than most Nolo books but probably a suitable resource for someone facing foreclosure.

Foreclosure Survival Guide an Eye Opener
A review of Stephen Elias' "The Foreclosure Survival Guide"
By Michael DeMeritt

In the wake of recent financial developments in the USA, I decided to take a look at a self help book in an area of law I really want to understand better: Foreclosure. I have read a lot of internet based ideas in the area of "what to do with a home you can't afford and has become worthless" and the talk is amazingly vast, and often contradictory. Attorney Stephen Elias does a masterful job of walking you through the motivations, emotions, and complex rules of this frightening process.

Elias is primarily a bankruptcy lawyer and his thoughts often turn to that issue, encouraging the use of bankruptcy as the ultimate protection when you are out of cash, have suffered lost income, and have a home with negative value equity. The first thing he wants you to understand is that, in his opinion, foreclosure is not a bad thing when you really need it. He spends a few paragraphs asking the reader to answer the deep questions, what does the home really mean to you, what is the value of the idea of home versus the place that is your house? He pushes the reader to understand a house is not a home, home is where your family is, where you can be you, and a house is just a place.

The truly interesting questions for me are the financial ones. When has a house devalued too much to no longer retain it? When has it become a bad investment? How do you make the decision that a foreclosure is required? When do you fight for a new deal to keep the house? How much of a restructuring can you hope to get? How do you ask for it? This book answers all of these questions with simple language in a straight to the facts approach. One of the best attributes is the appendix, which is a state by state breakdown with the specific rules of each. After reading the book the meaning of these charts becomes clear, and their usefulness indispensable.

One of the true shocks of the text is just how long you could stay in a home without paying a cent of mortgage. Once your credit rating is trashed from entering into foreclosure, you could see at least 3 months and perhaps as much as 18 before actually being asked to leave. If you have any income you could save and save and save and end up having the security deposits and moving costs to become a renter with bad credit. In some cases, new owners will pay you a fee to leave the house in a timely manner to prevent any chance you will rip out the stove, microwave, dishwasher and all the fixtures before you exit.

Of course Elias explains all the other options; short sale, deed in lieu of foreclosure, chapter 7 and chapter 13. He gives a meaningful chapter on how to try and keep the home, who you should trust and who you should avoid. He explains the way scammers will try and get to you, the oddball rules of some states, and the big difference between a deed of trust and a mortgage. It is an eye opener, whether or not you need the guidance. We have become a nation where you more than likely know someone who does.

I think this will give those facing possible foreclosure many ideas that
they can implement w/out a lawyer thereby saving money they need and If and when they need an attorney , they will know what their options are beforehand.
I got it for both of my kids....one just got a home before the whole banking debacle......just in case.
This is stuff I already knew but you don't always think of, especially when stressed and it's a small price to pay for another perspective to save your property.