Going through a foreclosure not just scary but stressful (emotionally and physically), from the moment you get a notice from your lender, you should start looking for a way out. By my guess, you’re reading this in an attempt to find a solution, losing your home over some unpaid debt isn’t an option.
However, aside from losing your home, foreclosure can also damage your financial records, which will make it more difficult to secure loans even after losing your home. But don’t worry, here are two steps to take that will not only help you stop the foreclosure but also preserve your financial records.
When you don’t know the rules of a game, you’re destiny to lose, educating yourself on what foreclosure is? How it is done in your state? How others in your state have stop foreclosure?. Finding relevant answers to these questions will give you such an advantage and can even reduce the emotional stress associated with the foreclosure.
Contact your lender
Foreclosure is not just a stressful and costly process for you, it is for your lender also, which is why most lenders will suggest alternative solutions before initiating a foreclosure. However if you missed those offers or maybe they were not offered at all, you can contact your lender and request any of them. There are four main offers that can be made, they are listed below:
Any of these options have the potential to stop foreclosure and make the whole process of mortgage payment a lot easier afterward. However, the closer the foreclose sale date, the thinner the possibility of your lender granting your request. Acting earlier is the remedy to solve this challenge and you will ultimately save your home.
For information on foreclosure defense call us at (877) 399 2995. We offer litigation document review support, mortgage audit reports, securitization audit reports, affidavit of expert witness notarized, and more.