If you are facing a foreclosure, I encourage you to read every foreclosure-related book you can put your hands on. Every book will have something different to offer. Each author will be giving you the benefit of personal experiences, favorite tips on strategy and tactics, and opinions on the best approach to dealing with foreclosure. While every book is sure to contradict every other one in some particular, that should not worry you. A little confusion can be very helpful if it makes you think. There is no one truth to these matters, and sooner or later you will sort things out.
That said, I recommend the following books:
- How to File for Chapter 7 Bankruptcy, by Stephen Elias, Albin Renauer, and Cara O'Neill (Nolo). As the title says, this book explains everything you need to know about filing for Chapter 7 bankruptcy.
- Chapter 13 Bankruptcy: Keep Your Property & Repay Debts Over Time, by Stephen Elias and Kathleen Michon (Nolo). This is a guide to the whole Chapter 13 process, including instructions for coming up with a repayment plan and filling in required forms.
- The New Bankruptcy: Will It Work for You?, by Stephen Elias and Leon Bayer (Nolo). If you’re not sure whether or not bankruptcy is the right way to go for you and your family, this book will highlight the pros and cons and help you evaluate your situation.
- Credit Repair, by Robin Leonard and Amy Loftsgordon (Nolo). If your credit is in the tank and you want to take steps to make it better, this is the book for you. It provides all the steps that have traditionally been necessary to raise your credit score.
- Foreclosures and Mortgage Servicing, authored by the staff of the National Consumer Law Center. This is the best book out there for in-depth legal research on the subject of foreclosure. It covers all areas of foreclosure in considerable detail. It contains a lot of the forms, foreclosure laws, and other materials you will need if you want to fight a foreclosure or do your own workout with your lender. You can buy a copy and get online access for around $150, or you might be able to find a cheaper, used copy online.