subject: Steps to Stop Foreclosure - Must Do Things In Order to Stop Foreclosure [print this page] Author: Hector Milla Author: Hector Milla
You really can stop your home from going into foreclosure, but there are some things you must do to make that happen. 1. Call Your Bank Immediately If you already know you're behind on your payments and foreclosure is imminent you should call you bank at once and ask what options they have that may be able to help you. 2. Negotiate Natalia Osorio Editor of the "Loan Modification Foreclosure" website -- http://www.LoanModificationForeclosures.com -- pointed out; Your current mortgage payments might be amortized which means you're paying principal and interest portions with every payment. Ask to have your loan modified back to interest only payments temporarily to reduce your payments 3. Sell Any Unwanted Items If you lose your home, you won't need many of those items anyway. Hold a yard sale. Jump on eBay. Do whatever it takes to raise a little cash quickly. Make sure that cash goes towards paying at least some of your delinquent payments. 4. Loan Modification Apply to your bank at once for a loan modification. If the bank's assessors understand that modifying your loan is going to help you to climb out of your financial hole, then modifying your loan could help you stop foreclosure. 5. Professional Help You should seek some professional help immediately. This could mean credit counseling, credit repair services that will help you to gain new financing at a later date or even professional help in writing and submitting your loan modification request. Seeking professional help is never a shameful thing to do. Be proud that you're taking responsibility for fixing your situation N. Osorio added. Further information about how to get professional assistance with a mortgage loan modification by http://www.LoanModificationForeclosures.comAbout the Author:
Hector Milla runs his corporate website at http://www.OpsRegs.com where you can see all his articles and press releases.
