Avoiding Foreclosure in Volusia County Florida

After having a few friends of mine request information on how to avoid a foreclosure I thought I would do a 2-part blog on this. So below I have included 5 of 10 important steps in helping you avoid foreclosure.

TIPS FOR AVOIDING FORECLOSURE

Are you having trouble keeping up with your mortgage payments? Have you received a notice from your lender asking you to contact them? Are foreclosure proceedings around the corner?

•- Don't ignore the letters from your lender

•- Contact your lender immediately

•- Contact a financial counselor

If you are unable to make your mortgage payment:

1. Don't ignore the problem.

The further behind you become, the harder it will be to reinstate your loan and the more likely that you will lose your house to foreclosure.

2. Contact your lender as soon as you realize that you have a problem.

Lenders do not want your house. They have options to help borrowers through difficult financial times.

3. Open and respond to all mail from your lender.

The first notice you receive will offer good information about foreclosure prevention options that can help you weather financial problems. Later mail may include important notice of pending legal action. Your failure to open the mail will not be an excuse in foreclosure court.

4. Know your mortgage rights.

Find your loan documents and read them so you know what your lender may do if you can't make payments. Learn about the foreclosure laws and timeframes in your state ( as every state is different) by contacting the State Government Housing Office.

5. Understand foreclosure prevention options.

Valuable information about foreclosure prevention (also called loss mitigation) options can be found on the internet at www.fha.gov/foreclosure/index.cfm.

If you or someone you know cannot pay their mortgage, call me!