How to Prevent Foreclosure:
Contact your lender as soon as possible. Even if you are behind on your mortgage, you should speak to your lender. Often lenders will offer options to help those who are having problems making their mortgage payments. Do not wait for the lender to call you. Taking the initiative before you have defaulted or enter pre-foreclosure may increase your options.
Basic information about how to avoid foreclosure can be found on the U.S. Department of Housing and Urban Development (HUD) website . The State of California has also compiled resources for individuals facing foreclosure. Their web site can be found here .
If you are having problems contacting your lender or want general advice on foreclosures, contact a HUD-certified housing counselor. They are trained professionals who will help you understand the law and any options available to you. They can also provide financial advice about your mortgage and negotiate directly with your lender if necessary. HUD's list of certified housing counselors in California can be found here . |
