What You Should Do If You Cannot
Make Your House Payment
If you own your home and have missed a few payments, the foreclosure process can start very quickly. It is important that you quickly learn everything you can to stop foreclosure processes and try to save your home. Be very aware: no one will do it for you and the process can move quickly. So, if you want to stop a foreclosure, you need to take responsibility and get the process moving quickly.
If you know that you are going to have a hard time paying your mortgage payment on time, the best action to take is to talk with the lending company right away. Ask about special forbearance, mortgage modification, partial claim and pre-foreclosure sale. The most important thing to let them know is that you want to make your payments and keep your home.
If talking with the lending company does not do any good at all, contact HUD (Housing and Urban Development). This is a government agency that has several resources at hand to aid homeowners.
The Homeownership Preservation Foundation offers free credit counseling and referrals, 24 hours a day, seven days a week (888-995-HOPE, or www.nw.org.)
There are agencies that may be able to help you save your home or at least your credit rating. Do not wait until the Notice of Default is filed. There are ways to stop the foreclosure and possibly save your home.
