Facing foreclosure is scary and many people do no know where to turn for foreclosure assistance. So, where so you look?
Perhaps the least likely place to look for foreclosure assistance is the first place you should look. You should call your mortgage lender. Despite a popular belief, mortgage lenders do not want your house. They are not in the real estate business and it costs them time and money not only to foreclose, but to sell a house after they acquire it in a foreclosure. No, mortgage lenders do not want your house. They want their loans paid.
The reason you call your mortgage lender first when you need help stopping foreclosure is that your mortgage lender holds your mortgage and may have several ways to assist you. Your lender can decide to let you have more time to pay, agree to modify or change your mortgage payment terms, etc. Most mortgage lenders will work with you, but there is not requirement that they do that. Some mortgage lenders will not work you for whatever reason. So you call your mortgage lender first to see if they can help you stop or avoid foreclosure.
Another source to look for foreclosure assistance is to check with several lawyers. The reason for checking with several lawyers is that some lawyers are more helpful than others. And their fees will vary, some charge more than others. You will probably want to talk with a bankruptcy lawyer because bankruptcy lawyers deal with matters of stopping debt collection. A lawyer can tell you your legal rights as well as explain to you the complete foreclosure process.
A third place to look for foreclosure help is the internet. However, you need to be careful. I have seen a number of websites claiming to be stop foreclosure specialists. I do not know of any government or private organization that certifies stop foreclosure specialists. I have also seen websites that claim to tell you the foreclosure law for your state. I know for a fact that some sites have not completely stated my state's foreclosure law and that by being incomplete, they may mislead website viewers. A lot of the information on the internet is good information, but you need to be careful. "If it sounds to good to be true, it probably isn't true".
Whether you look locally or on the internet for assistance in stopping foreclosure help, check several sources, use your best judgment as to what is true and what is not true, and be sure of what the fees are before you have any individual or company take any action on your behalf. Be suspect of any individual or company that will not tell you up front what they can do for you to stop or avoid foreclosure.
It is important that you realize that you may have several options to stop or avoid foreclosure, but that not every option will work in every situation.
This article is general information. If you have any questions of any nature concerning foreclosure, talk with a lawyer licensed in your state.
This article may be republished, but the wording must not be changed and the author links must remain active.
