©sandydab - flickr

©sandydab – flickr

With the entire rise in foreclosure in America, people need to start looking early on ways to avoid foreclosure.  Most homeowners should try to look into ways to prevent foreclosure, the moment they decide to buy a home.  You never know when you could fall into economical hardship, but being prepared early on is wise.  Most people don’t think about ways to save their homes, until they are already facing it.

Hopefully reading this article will give homeowners some new ideas on how to avoid foreclosure early on.  Please review over the part one article if you want to learn about having money saved up emergency, home equity line of credit and not missing a mortgage payment.

Avoid These Things If You Want To Avoid Foreclosure

4. Not asking for help. Do not be ashamed to ask for help, from friends, family and even close neighbors.  Being embarrassed about a foreclosure is not going to help you get out of the situation.  No one wants to ask family or close friends for help, but true friends are the ones that will stick by your side and help you through something as difficult as foreclosure.

Also keep in mind that eventually friends and family probably will find out and then they will wonder why you didn’t come to them for help.  Most people you will talk to will be more understanding than you would have expected.  Even neighbors can possible give you good advice, who knows they themselves may have gone through foreclosure or even someone they know.

5. Avoid the lender and financial institution. This is one of the worst things you can do when facing foreclosure.  Do not dodge your lender’s phone calls; they are the first people you should turn to when you are going to or have missed a mortgage payment.  You should be going to them right away preferably when you know your going to be in financial trouble and may miss a mortgage payment.

The earlier you talk to them, the sooner they may have some solution for you.  The lender is the one person that may be able to help you right away and have other options for you other than foreclosure.  If you are intimidating to talk with try to have a professional foreclosure attorney or foreclosure negotiator speak with them.

6. Act like you have no problem. Don’t try to deny or ignore that you may be facing foreclosure.  This really is the worst route to go, if you try to act like there is nothing wrong, before you know it you will be evicted out of your home.  The more time you spending pretend that there isn’t a problem, the less time you will have to solve it.  Each day you are in foreclosure, you need to spend working on a viable solution for it and talking with people that may be able to help you.

7. Think that you have no options one you get a foreclosure notice. A lot of people get a foreclosure notice and start packing up.  This is pretty much admitting defeat right away, there are alternatives and solutions to stopping foreclosure, start doing your research and take advantage of them.

Don’t think that you have to try and find away to pay all you money in full or you won’t stop the foreclosure, there are other options out there that your lender may be able to help you with, like getting the payments down or tabbing the past due amount onto the end of your loan.  Some of the choices can even reduce on what you owe by thousands of dollars.  Start looking at your options early enough and you will be on the right track to saving your house.

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