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:
- Do not ignore the problem by letting things get worst. The more you fall behind the harder it will be to catch up.
- Be sure to contact your lender ASAP because lenders want to work with you and avoid foreclosure. Many lenders have options to help homeowners.
- 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.
- 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.