Avoid Foreclosure

A common theme through out this website is that there is only one of avoiding foreclosure. And that is to pay your mortgage lender. Don't be fooled by anyone or any website that implies or claims that you can both avoid foreclosure and not pay your mortgage lender. That is simply not true. While home loans and car loans are different, they are the same in that if you do not pay your car payments, you will lose your car. If you do not pay your house payments, you will lose your house.

The good news is that if you are having a difficult time paying your monthly payments, you may have several options on how to pay your mortgage lender. And, of course, if you pay your mortgage lender, you avoid foreclosure.

You need to talk with your lender. Most mortgage lenders have "Loss Mitigation" departments. The job of these departments is to reduce the loss or potential loss that the lender might suffer from a loan that is not being paid. Lenders have options on how they can help you. They can delay payments, modify your mortgage loan, agree to a short sale, agree to a Deed In Lieu Of Foreclosure, etc. You need to talk with your mortgage lender to see if and how they will help you.

Other options on avoiding foreclosure by paying your mortgage lender include obtaining a foreclosure loan to refinance your existing loan, selling your home, or bankruptcy.

As you can see, you may have several options on how to pay your lender and avoid foreclosure. You need to beware that not every option is available in every situation. An option that works in one situation may not work in different situation. See stop foreclosure options to help you understand the options available to you to stop or avoid foreclosure in your situation.