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Forclosure
Prevention
If you are behind
on your mortgage payments, you have many options. The one you do not
want to take is the option that leads you to foreclosure. Foreclosure
is the legal means that your lender uses to recuperate the amount owed
on your mortgage…by selling your home from under you.
The other options are much more favorable and prevents foreclosure
from happening:
1. Refinance.
2. Compromise on your existing mortgage. If your lender is willing,
temporarily change the terms of your loan: reduce the interest rate,
principal portions of payments, or extend the amortization to reduce
overall payment obligations.
3. Repayment plan. Pay a portion of your back payments and agree to
pay the rest in addition to your regular mortgage payment.
4. Repurchase after foreclosure. |
Education
Center
Helpful Financial Forms - Download financial forms.
Credit
Cards - Learn about important terms before applying for a
credit card.
Consumer Rights - Learn about your rights under the Fair
Credit Reporting Act.
Debt Warning Signs - Learn about the warning signs of debt.
Credit
Scores - Learn about credit scores and why they are so
important.
Telemarketing Scams - Top 10 telemarketing scams.
Money Saving Tips - Tips to help you save money.
Consumer Debt Statistics - Detailed consumer debt statistics
in the U.S.
Debt Management Plan - How debt management helps you.
Credit
Repair - How credit repair helps you.
Foreclosure Prevention - How and why to prevent foreclosure.
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