subject: Credit Foreclosure Loan Product For Stopping Foreclosure [print this page] Credit Foreclosure Loan Product For Stopping Foreclosure
Are you aware that over 50% of the people that find themselves in foreclosure, haven't contacted their bank about helping them take action? People, have headaches, insomnia, even heart attacks simply because they can?t pay their loan payment, but they never seem to bring their problem to the bank. They don?t think of getting some kind of credit foreclosure loan, for stopping foreclosure.
The very first thing you should do, when you start having difficulty making your payments is talk to your bank. Find out if they are able to help you will some type of loan modification, or credit foreclosure loan for stopping that dreadful foreclosure.
Your first contact will probably be someone in the collections department, but if they cannot provide you with any answers, you have to consult with someone within the Loss Mitigation Department.
Ask your bank pertinent questions like: Are you able to slow up the rate of interest? Forgive the main principal, or extend the maturity of the mortgage?
You shouldn?t take no for an answer. You should also understand that it's not within the banks welfare to foreclose on the home. That just gives them more problems, and is more expensive. Keep asking, before you get someone who would like to talk about your case. Write down any, and everything you discuss to anyone. Jot down their names, and the things they said. Then visit a large financial company or another lender and see if you can look for a refinancing option. What happens if you have to prove that you simply attempted to talk to your bank, before they'll provide you with a credit foreclosure loan for stopping foreclosure.
To summary it --can you stop foreclosure? - Of course you can! You need to simply go ahead and take bull by the horns and act swiftly and decisively before your lender has time to complete any action taken against you.
