Andrew Harmon


 

 

Foreclosure Assistance

Foreclosure assistance can be just what you need to keep you in your home. Look at what options are available and make a decision based on your needs.

Getting foreclosure assistance is one of the most important things a homeowner can do if he or she wishes to protect this valuable investment. When a lender forecloses on a borrower, they take legal action to force the sale of the property. The reasoning for this is simple. Mortgage companies do not want to lose money by holding onto a mortgage that is not going to be paid back. However, the company does not want ownership of the home. The company wants to get back the investment it made. Often times, the homeowner is not even the focus of the process.

Initial Situation

For those who may be at the point where they are missing a mortgage payment, now is the time to act. Doing so will help to prevent long-term concerns and worries. If you are about to miss a payment or you are less than a month behind, the first step is to contact the company and to find out what it can do to help you to get caught up. Some will work with you to catch up the late payment. They do not legally have to do this. However, they often will work with you if they believe you have the means of repaying your debt.

Further Behind

When an individual gets further behind in his or her mortgage payment, it is necessary to take steps now to resolve the underlying problem. At the one-month late point, the lender will become concerned, and even just one month later it can start to foreclose. Foreclosure assistance at this time can be the best help. These professionals can help you to determine the best route to take to prevent the process.

Determine if you have the means to keep paying on your mortgage.

If so, determine if the lender is willing to work with you to modify the mortgage to make it more affordable to you.

Determine if the company can work with you to move late payments to the end of your loan.

Find out if there are any other steps possible to prevent the process from occurring.

If the lender has already taken steps to foreclose, the foreclosure assistance may be to help find out if there is a way to prevent the loss of your home.

By working with foreclosure assistance, homeowners have a true opportunity to improve their situation. It may be possible to avoid many of the circumstances revolving around this situation, if you take steps as soon as possible to get help. The longer you way , the further the legal process goes. That can mean more risk of losing your home.

 

 

Home Away From Homeee  |  Hot or Not   |   Money Minutes   |   Path Lighting   |   Get Up & Move  |  And The Award Goes To
Real Estate   |   Legal   |   Gadgets   |   Cars   |   Education   |   Relationships  |   Philadelphia's Best Kept
Subscribe   |   Advertise   |   Contact