subject: Too Late to Stop Foreclosure - How Late Is Too Late? [print this page] Author: Hector Milla Author: Hector Milla
With the global real estate economy in dire straits and the ever increasing interest rates, many home owners have start feeling the payment crunch. The very first thing that pops up in mind is foreclosure. Will you be able to make the mortgage payments? Often the most frequently asked question is, 'Is it too late to stop foreclosure and how late is too late?' Hector Milla Editor of the "Best Mortgage Loan Modification" website -- http://www.BestMortgageLoanModification.net -- pointed out; Simply, its never too late to ask for help except when the bank is almost putting up the FOR SALE sign. Normally, banks wait 30 days from the first late payment to contact you. They will send a notice after 60 days and its that period between one and two months that the bill collectors start bothering you. After 90 days, some bank will start the foreclosure procedures while a few financial institutions wait for almost half a year Whatever the case, the first thing you should do if you ever get a foreclosure notice or think you are not going to to meet the deadlines, is to contact the credit counseling services. These include the National Foundation for Credit Counseling and various other Independent Agencies. The experts at these organizations should provide complete guidance. Another option is to contact a mortgage broker, preferably an affiliate of National Association of Mortgage Brokers. No matter what stage of foreclosure you are in, expert guidance can make sure that you are NEVER too late H. Milla added. Further information about how to get professional assistance with a mortgage loan modification by visiting; http://www.BestMortgageLoanModification.netAbout the Author:
Hector Milla runs his corporate website at http://www.OpsRegs.com where you can see all his articles and press releases.
