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Quick Tips to Avoid Home Foreclosure

March 9, 2009 | Quick Tips | 2 Comments

If you are worried about your home going into foreclosure or you’re in foreclosure already, the U.S. Department of Housing and Urban Development offers the following tips:

  1. Do not ignore the problem by letting things get worst.  The more you fall behind the harder it will be to catch up.
  2. Be sure to contact your lender ASAP because lenders want to work with you and avoid foreclosure.  Many lenders have options to help homeowners.
  3. Do not ignore warning of foreclosure.  Respond immediately to all mail and communications from your lender.  Ignoring the problem will not cause it to go away.  Most notices you receive by mail will have options to prevent foreclosure. Not reading your mail can cost you dearly.
  4. Know your rights by reading your loan documents and know what your lender will do to foreclose your home.  Also, know the foreclosure laws in your state.

For more information visit http://www.hud.gov/foreclosure.

 

 

 

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2 Comments to “Quick Tips to Avoid Home Foreclosure”

  1. debt negotiation
    9:20 pm on March 9th, 2009

    I agree.Contact immediately your lender if you cant pay your dues on time so that he can help you to avoid foreclosure..

  2. phil72
    1:54 pm on March 10th, 2009

    85% of mortgage documents contain major Truth in Lending Act, RESPA, and Predatory Lending and Real Estate/Mortgage Fraud violations. Mistakes such as these can compel banks to work with you as opposed to foreclosure. Visit http://www.advocateforyourhome.net for affordable forensic loan audits. Our professionals will conduct a thorough review of your loan documentation to locate whatever problems exist.

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