How to Avoid Home Foreclosure

How to Avoid Real Estate Foreclosures - Your first step is to call your mortgage lender. If you are having a difficult time paying your mortgage on time, it's important to call your lender immediately, before things can get bad which can lead to a real estate foreclosure. Your biggest ally if you encounter difficulty paying your mortgage on time is often your lender.

Your mortgage lender has options to help you stay in or sell your home. These options include forebearance, repayment plans and loan modifications as well as relief under the new Federal housing plan. You can find their contact information on your mortgage statement or coupon book.

Working With Your Lender to Stop Foreclosure

When you call your lender, be sure to have your account information handy and be ready to give a summary of the financial problems you are having. You should also have recent income statements and your household budget with you.