Foreclosures are up, there is no need for me to repeat what everybody already knows. There are steps that people can take to prevent this awful event from occurring. HUD publishes some guidelines that I want to share with our readers, may be we can help you save your home.
Steps to take when you can't pay your mortgage:
1. Contact your lender as soon as you have a problem
2. Talk to a housing counselor
3. Prioritize your debts
4. Explore loan workout solutions with your lender
5. If keeping your home is not an option
6. Beware of predatory lending schemes
If you want to see the details of the steps listed above go to:
http://www.fha.gov/foreclosure/index.cfm
Loosing your home is not what neither you or the lenders want. When this happens, it is a loose loose situation.
If you need help dealing with this disastrous situation, call me at:
773-562-6972.
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