How Can I Stop Foreclosure on My House?

 


Visitors: 746

We understand the being in foreclosure is a scary thing. You are probably wondering how can I stop foreclosure on my house. There are many options available when facing foreclosure. They may include reinstating the loan, forbearance, loan modification, mortgage refinancing, sale of the property, deed in lieu of foreclosure, or bankruptcy filing.

There are also many services that will work with your to help with your situation. These companies are able to tailor a plan specific to your needs. It is most important to know that time is your worst enemy when facing foreclosure. Even if you are just one payment behind, you should do something rather than wait until you are even more behind. This may sound like common sense but many people fail to do something, and just pretend like nothing it wrong. Seeking help before you are 90 days or more behind on your payments can greatly increase your chances of success.

Here are a few tips if you are facing foreclosure. First no not ignore any attempts of contact from your lender specifically letters. If you can not keep up on your payment, call or write to your lender and explain your situation. Be prepared to give financial information, and tell them that you would like to work out an arrangement until you can resume making timely payments. It is also a good idea to keep records of any contact you have with your lender. Keep in mind that any workout plan you agree to with your lender should be realistic, don’t agree to something you can’t follow through with.

If the bank is not willing or able to work something out with you consider getting in touch with a loss mitigation service. They will be able to work with you and develop a plan that can save your home. They will work with you one on one and structure a plan that is best suited to your needs. Since everyone’s situation is different contact them to tell them your specific situation. Many have forms you can simply fill out and get a response within hours. For more information on loss mitigation services visit http://www.foreclosure-helper.com for a free foreclosure situation analysis.

Mark Lambie is the owner of Stop Home Foreclosure Today a website dedicated to helping homeowners facing foreclosure

(402)

Article Source:


 
Rate this Article: 
 
Stop Foreclosure - A Creative Way To Stop Foreclosure
Rated 4 / 5
based on 5 votes
ArticleSlash

Related Articles:

Stop House Foreclosure - Financial Hardship Paperwork

by: Jill Borash (October 08, 2008) 
(Real Estate/Foreclosures)

Stop House Foreclosure the Day Before Your Sale Date

by: Jill Borash (November 04, 2008) 
(Real Estate/Foreclosures)

Stop Foreclosure Mortgage Help - Three Questions That Can Save Your House

by: Richard Geller (December 05, 2007) 
(Finance/Mortgage Refinance)

Stop Foreclosure In Houston - You Can Stop Your House Foreclosure In Houston ..

by: Janet Brooks (February 13, 2008) 
(Real Estate/Foreclosures)

Stop Foreclosure By Working With Your Lender - You Can Avoid Foreclosure By ..

by: Bayo Akinola-Odusola (July 06, 2007) 
(Finance)

Stop Foreclosure - Climb From the Depths of Foreclosure With a Low Mortgage ..

by: Randal Lahey (August 11, 2008) 
(Real Estate/Foreclosures)

The Foreclosure Series Part 4 - Fight For Your Homes, Stop Foreclosure

by: Zeus John Martinez (October 06, 2008) 
(Real Estate/Foreclosures)

How to Stop Mortgage Foreclosure Process 6 Foreclosure Secrets Revealed

by: Harry Faulkner (July 30, 2008) 
(Real Estate/Foreclosures)

Stop Foreclosure - Several Options to Help You Avoid Foreclosure on Your Home

by: Jon Arnold (August 15, 2008) 
(Real Estate/Foreclosures)

Stop Foreclosure - A Creative Way To Stop Foreclosure

by: Thomas Bladecki (January 25, 2008) 
(Real Estate/Foreclosures)