How To Save Your Home From Foreclosure?

By Author: clark kent
Total Articles: 1
Comment this article

1. Prioritize

Focus all of your available finances to make your mortgage payment even by withholding payments to meet other debts like those of credit cards, hospital bills, medical bills, IRS debts, and student loan payments.

2. Discuss

Talk to your lender as soon as possible. The foreclosure process is expensive for the lender; hence they want to avoid it and also want to work with you to resolve the problem amicably. You may avail this opportunity as quickly as possible.

3. Change your spending Habits

Give a second thought to the list of your monthly spending and look for the ones which can be removed from the list immediately. Avoid elective purchases like eating out, electronics, hobbies and entertainment.

4. Consult

Take steps to benefit from debt management program and credit counselling which can enable you to survive rough financial times. But be careful some don’t actually help.

5. Restructure

Utilize the available opportunities to restructure your mortgage payment modalities to reduce the risk of losing your home. It is inevitable if your financial ...
... slowdown seems to be perpetuating.

6. Convince

Convince the lender to allow you forbearance by showing that your financial difficulties are temporary and you are expecting a large sum. You get a temporary reduction or suspension of your mortgage payments for a short period.

7. File bankruptcy

In case you are truly incapable of making mortgage payments at all in near future, file for bankruptcy. During the period bankruptcy is pending, your home will be saved from foreclosure for a certain period. You can buy time to devise ways to solve the problems you are facing.

8. Judge

Analyze the available options carefully and consider those which are practicable and provide long-term or permanent solutions.

9. Seek help

Take assistance from expert counsellors to get rid of foreclosure.

10. Realize

Finally, understand the gravity of the situation and act as the prevailing time calls for. Be prudent in all your financial dealings.
We at Upside Down CA vow to remain with you through thick and thin to relieve you from the onslaught of foreclosure. We are beside you when you are in trouble and we may help you find, manage and decide the right mortgage programs statewide in California. Avail our friendly and accurate services to avoid foreclosure.