How To Stop Foreclosure Now

It's a frightening feeling. You're falling behind on your house payments, perhaps 3 or 4 months. Every knock on the door or trip to the mailbox is accompanied by a feeling of dread. If the worst happens, will you know how to stop foreclosure now? The following techniques can be utilized to halt the proceedings or avoid it all together.

Contact the lender. Actually, this is a precaution that should be done immediately, as soon as you think you may miss a payment. Lenders are agreeable to work with you to arrive at a answer that works out best for you and them. They don't want your house, it may be a loss for them, plus all the time and expense of having to sell it. Keep the dialog completely open between you and your lender.

Write a hardship letter, or find a ready-made template. Explain to the lender why you have not been able to make payments. Attach copies of any documents that support your assertions, including correspondence that indicates a lowering in pay or job loss. A well put together hardship letter will go a long way when working with your lender.

Hire a lawyer that specializes in foreclosures. They are well versed in finding items like small problems in the original closing contract. These seemingly little problems can be used against the lender during foreclosure proceedings.

You can remain in your home for a delayed period of time, without paying your mortgage, by scheduling a foreclosure court hearing. The backlog of cases these courts have on the docket indicates that you may be able to stay in your house payment free for maybe for a year while waiting for your turn to make known your difficulties.

These are a few methods you can use starting today to stop foreclosure now, or at least slow the process down.

Discover how you can stop foreclosure now, whether you are in the middle of one or are in danger of losing your home.
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John Phillips owns and operates Ways To Stop Foreclosure