There are many reasons why home owners find themselves being threatened with the probability of foreclosure of their treasured home. What would you do if you suddenly found out you could not pay your mortgage, and the security of your home was jeopardized? Do you know your rights? Do you know there is help, and where to find it before it is too late; before the possibility of being faced with additional penalties, legal fees, and extra daily interest compounded?
If you find you are in a situation due to job loss, sudden illness, death in the family, divorce, excessive debt obligations, job demotion and wage loss, or any other multitude of reasons why you may find you can not meet your required monthly mortgage payment, you need to find help. There are Foreclosure Specialists who work with your lender to stop foreclosure before it happens.
Time is of the essence. You must do something to avoid losing your home, damaging your credit, and risk the security that you have taken years to build. Many lenders submit a "Notice of Default" into the public records where the home is located, shortly after you are only a month behind. You may have 90 days to re-instate the loan and repay all back payments, but you must look into finding help as soon as you know you will be in financial trouble.
If you are unable to make a mortgage payment, you must first call your lender. Time and again, people are afraid or embarrassed to do this, which only ends up making the situation harder. Your lender may agree to work with you by arranging a suitable repayment plan before legal action is taken which is known as Forebearance. Other methods of help may be obtained through Debt Forgiveness, changing terms of the loan, adding back payment to the loan balance, or making a totally separate loan.
It is when the lenders are not able to help or will not work with the borrower to resolve the foreclosure procedure, that the Foreclosure Service Specialist are hired to step in and resolve the matter in the interest of the borrower. So, if you are facing the fear of foreclosure, you can rest assured in the knowledge that there is a foreclosure service waiting to help you today.
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