Tips to Avoid Foreclosure

Don’t ignore the problem

The further behind you become, the harder it will be to reinstate your loan and the more likely you will lose your home. Contact your lender as soon as you realize that you have a problem. Lenders do not want your house. They have options to help borrowers through difficult financial times.

Open and respond to mail from your lender.

The first notices you receive will offer good information about foreclosure prevention options that can help you weather financial problems. Later, mail may include important notices of pending legal action. Your failure to open the mail will not be an excuse in foreclosure proceedings.

Know your mortgage rights.

Find your loan documents and read them so you know what your lender may do if you can’t make your payments. Learn about the foreclosure laws and time frames in California, Click Here.

Prioritize your spending.

After health care, keeping your home should be your first priority. Review your finances and see where you can cut spending in order to make your mortgage payment. Look for optional expenses – cable TV, memberships and entertainment that you can eliminate.

Contact a Real Estate company that can handle loss mitigation.

If, for some unforeseen circumstance, you are unable to make you mortgage payment and are in jeopardy of losing your home, contact a reputable loss mitigation company to help you by negotiating with your lender to resolve your situation. This is where Blue & Gold Realty can help.

Let us help you avoid foreclosure, Contact Us today! Free Online Home Valuation available at no cost of obligation.
 

 


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