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Scott County IA Foreclosure Prevention Tips: #11-#15 (Part #3 of 4 Parts)

By Paul David Hiebing

Real Estate Agent with Grampp Realty: Real Estate in the Quad-Cities Iowa : # S40848000

January 15, 2013 03:48 AM

Scott County IA Foreclosure Prevention Tips: #11-#15: (Part #3 of 4 Part Series)

Part #3 of a 4-Part Series.

Group: http://activerain.com/groups/foreclosure

Website: http://activerain.com/pauldavidh0426

PLEASE NOTE: Homeowners in mortgage foreclosure are STRONGLY encouraged to retain the help of a competent real estate attorney.

Tip #11) DO hire/retain competent legal counsel! The foreclosure process is a very complicated and difficult one. It is imperative that you retain the help of a real-estate attorney who is familiar with foreclosures, and the methods of delaying them. You should consult with an attorney as soon as you receive the first notice of delinquency from your mortgage lender.

Tip #12) DO seek the help and advice of a competent REALTOR who is familiar with "Mortgage Loan Work-Out Program" alternatives and the "Pre-Foreclosure Short-Sale" process. They will be more than happy to assist you by providing you with the information/advice necessary to make the right decision for your particular situation.

Tip #13) DO take advantage of federally-funded homeowner assistance programs provided through H.U.D. (U.S. Dept of Housing and Urban Development) that can explain your alternatives to foreclosure, and direct you to programs designed to help the financially troubled homeowner avoid foreclosure.

Tip #14) DO contact your mortgage lender immediately when you first face economic difficulties that prevent you from making your monthly mortgage payments. During periods of short-term unemployment or other financial difficulty, most lenders will be willing to work with you---As long as you can get back on track within a period of one year or less.

Tip #15) DO maintain complete and accurate records of all correspondence (mail, phone calls, legal notices, etc) received from your mortgage lender in regards to your loan delinquency and the foreclosure proceedings being conducted against you. It is important that these records are maintained so that your attorney can provide you with a legal defense against the foreclosure process, and delay the sale of your property as long as possible. Grampp REALTY Foreclosure Help and Prevention