MichiganChange
Preventing Foreclosure Tips
If you got into one of those bad loans like my neighbor, the first thing you should do if you can't make your payments and you feel foreclosure is right around, is to contact your lender immediately! Good lenders are able to help borrowers through financial difficulties. Your lender does not want to take away your house. Explain why you are having a hard time repaying the loan and let them know you are committed to keeping the home and need help making a plan. Since it's a national problem, there should be some type of program they can help you with.
What's your tip?
The very first thing you need to do is call and communicate with your lender. Lenders are in the lending business, not the real estate business. Your lender will want to work with you and help you find a way to keep your home. The longer you wait, the more difficult this will be to do. If you are several months behind in your mortgage payments and you have not made contact with your lender, they will probably assume that you do not intend to repay their loan. Don’t avoid your lender or their calls. Do take action and know your rights in the process. Do be diligent in avoiding scam artists that may be contacting you to "help".
need some advice on my house with bad mortgage my credit is banged up bad know 500eds