Do you believe it's possible to stop foreclosure? Some people do and some people don't. The truth is, you can indeed stop foreclosure. This article reveals one of the key ways you can take to stop foreclosure if you happen to be in this unfortunate position.
You might've simply fallen behind on your bills or you may have lost your job or You might be dealing with a health issue or be facing a whole host of things that simply mean you're unable to make your mortgage payments. Probably the worst thing you can do if this happens to you is not to make your regular payment. The right thing to do in this situation is to contact your lender and to work with them so that they can help you come with a workable solution that’s right for you. You need to make decisions regarding your obligations if you want to stop foreclosure on your home.
Do The Right Thing And Don't Avoid Your Lender
Money lenders say that the biggest mistake people make (and that eventually leads to foreclosure) is not sending in a payment. You'll continuously ask yourself “I wonder what they're going to do" - The answer is really very straightforward. Foreclosure proceedings will start within a couple of months of your non-payment. If you don’t contact your lender as soon as you know that you can’t make a payment, the chances are quite high that they'll start the foreclosure process as soon as you begin to miss a payment. Look at it this way. . . If someone owed you money and promised to pay you on a certain day of the month and they failed to make a payment, wouldn't you wonder what was going on and probably take some form of action? The good news is that it doesn't have to be this way. You can stop foreclosure by working with your lender. They will work with you if you do contact them - BUT you have to contact them in the first place.
Have You Started Receiving Mail From Your Lender?
If you've already started to receive notices in the mail from your lender, the chances are pretty good that they're already considering the foreclosure measures they'll need to take. If you do get a notice, receive an email or are contacted by phone from your lender, just talk to them. Let them know what's happening to you in your life and why you can’t make your monthly payment. It's equally important that you tell them of the means you're working on to get a payment to them as soon as possible. You might be working extra hours or looking for a part-time job somewhere or might be able to get the funds together in the next week. If you don't tell them, they won't know. To stop foreclosure when you can't meet your agreed payments you need to keep them informed, even if they don’t call you to ask what's going on.
There Is Still Hope
As you work with your lender, chances are you’ll find a solution. Using forbearance or simply accepting smaller payments until you get back on track might be one solution they are able to offer you. Going this route gives your lender the information they need to know that you're simply are not going to pay back your debt as agreed and it also helps you to find a solution to an otherwise very troublesome situation. You can stop foreclosure from happening by simply working with your lender on the situation. It's the right thing to do.
Find out how to stop foreclosure and eliminate your debt quickly and easily by visiting the Ultimate Debt Guide website at http://www.theultimatedebtguide.com , a popular website and resource that uncovers tips, advice and other easy-to-use resources. If you're at the end of your rope financially and are looking for a way out. . . then you're going to be extremely glad you discovered this information on how to stop foreclosure on your home and eliminate your debt quickly and easily.
‘Bayo Akinola-Odusola is a business consultant, author, speaker, direct response copywriter and information marketer. Discover more ways to eliminate debt fast and stop foreclosure on your property starting today at the Ultimate Debt Guide website