There's no reason to put your home at risk. Prevent a
foreclosure of your home. Take
If you need to know what to do to stop a foreclosure, we can help.
you are having difficulty making your monthly mortgage payments, you can
protect your home, but you must act immediately. Your actions can
prevent the loss of your home through foreclosure. At
Preventmyforeclosure.com, we give provide you
information you need to avoid foreclosure, but it is only the beginning.
If you are having serious financial difficulties, you need to seek
professional assistance and/or legal counsel to best protect your home.
The very first thing you need to do is call and communicate with your lender. Lenders are in
the lending business, not the real estate business. Your lender will
want to work with you and help you find a way to keep your home. The
longer you wait, the more difficult this will be to do. If you are
several months behind in your mortgage
payments and you have not made contact with your lender, they will
probably assume that you do not intend to repay their loan. Don’t
avoid your lender or their calls. Do take action and know your
rights in the process. Do be diligent in avoiding
scam artists that may be contacting you to "help".
Get your financial ducks in a row. Be prepared to discuss your problems honestly
and in detail. Think about the questions you may be asked in advance and
make notes to help you answer them. This may impress your lender that
you are prepared and sincere.
you are facing foreclosure, you
do have several options. There are numerous ways in which
your lender might be able to help you. You could start with
debt counseling, which can help you to look
at all your outstanding debt to see if any of it can be restructured or
consolidated. Your mortgage payments would be the last payments that
you would default on, so it is likely that you are experiencing
difficulty with your other payments as well. Your lender/counselor can
help you make a budget to structure a repayment plan.
There are several other legal options that
you should pursue with your lender. Modifications, forbearance and
recasting are all possible if you have sufficient
equity in your home.
If your problem is serious enough that it can not be resolved in a
reasonable amount of time, it may be necessary for you to
sell your home
and find a living situation that is more manageable. If it is possible
to pay off the mortgage balance, you can settle your delinquent debt and
avoid foreclosure. A short sale
negotiation with your lender is another option to be explored. Make sure
to work closely with your lender to allow a reasonable time to sell the
home. If all else fails you may have the option of signing the home over
to your lender, normally referred to as a “Deed-in-lieu”.
Bankruptcy, as a last
resort, can also be utilized in this process.
all of these options available to you, there is no reason to lose your
home or your investment. At preventmyforeclosure.com
we give you all the tools and information
that you need to make an educated decision on how to save your home.