Do you owe more on your mortgage than your house is worth or facing foreclosure? Then this book is for you.

As of December 2011, 24% of all homes are now underwater with analyst predicting that number to rise to 45% in 2012

 

If so, then you've come to the right place. Take heart, you are not alone. In today's economy, thousands of homeowners are finding themselves in the same situation. And, in many cases, it is a situation that arose because of events that were completely out of their control. Through no fault of your own, you and many people like you have seen the value of your home drop, sometimes precipitously.

 

You may have taken advantage of the low interest rates and aggressive lending policies that led up to the real estate bubble bursting or you may have been caught in the massive layoffs that have resulted from this Great Recession. No matter the reason, there are steps that you can take to minimize your losses, lessen the damage to your credit rating and begin to regain your financial footing.

The first thing to do is to stop beating yourself up over a situation that you have no control over. Remove the emotion attached to your home and start making decisions like any other corporate CEO who has recognized that it is time to cut losses and unload an asset that isn't making a profit or retaining its value. Think only of your bottom line and don't fall for the moral obligation argument for trying to hold on to your house.

 

Consumer Advocate, Michael R. Bang, in his new book, Walk Away: How to Strategically Default on an Underwater Mortgage, can help you examine your circumstances and make sound financial decisions about the best way to deal with your situation. In easy to understand language that is free from hyperbole and personal judgment, he explains how banking practices resulted in the drop in home values, what types of mortgages are available, how to avoid foreclosure actions and what to do if you are served with a foreclosure notice.

Michael shares some little known secrets that bankers do not want you to be aware of but can help you navigate through the rapids. You will learn:

• The difference between Chapter 7 and Chapter 13 bankruptcy filings
• Loan Modification - What you should know before you apply
• Details on your states foreclosure rules
• Multiple options avaiable besides foreclosure,
• The truth about the Federal Reserve Bank (The Central Bank)
• How to forestall and fight a foreclosure

Do not lose sleep over your financial situation for another minute. Michael's book helps you learn about your rights and how you, too, can take advantage of the laws to right your financial ship and sail into your future.