I know we have touched on this subject before with Shorts Sales v. Foreclosure. This time we want to give you 10 tips that we feel are vital to save your home.
1. Don't ignore the problem
The further behind you become, the harder it is to keep your loan secure and more likely you will lose your home.
2. Contact your lender
Lenders don't want your house. Most will be willing to work with you in difficult times.
3. Respond to your lender
If you get a notice from your lender, read it !! There could be some helpful hints to help you avoid foreclosure
4. Know your mortgage rights
Find your loan documents and read them and find out what your lender may do if you don't make your payments.
5.Understand foreclosure prevention options
Valuable information about foreclosure prevention can be found at www.hud.gov.
6.Contact HUD-approved housing counselor
HUD offers free or very low cost counseling nationwide. They can help you with your finances and also represent you in negotiations with your lender. Visit their website above.
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