Stop Foreclosure

The plain truth is that there is only one way to stop foreclosure. That is to pay your mortgage lender. Do not believe anyone or any website that claims or implies that they can stop foreclosure for you and not pay your mortgage lender. Your mortgage lender has a secured interest (mortgage) in your house. This means that, if you do not pay, your mortgage lender can seek possession (foreclosure) of your house.

The good news is that if you are having a hard time paying your mortgage payments or you are behind on your mortgage payments, you may have several options on how to pay your mortgage lender. And, of course, when you pay your mortgage lender, you stop foreclosure.

The first thing that you need to do is to talk with your lender. Most mortgage lenders have departments called "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. Mortgage lenders have their own 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. It is important to realize that a mortgage lender is not required to help you. Most lender will work with you because they do not want your house. You need to talk with your mortgage lender to see if and how they will help you.

Other options to stop foreclosure by paying your mortgage lender include obtaining a foreclosure loan to pay off your existing loan, selling your home, or bankruptcy.

Stop! Don't blindly chase any option to stop foreclosure. Learn what options you have in your situation. Look at stop foreclosure options because not every option works in every situation. What works in one person's situation, may or may not work in your situation to stop or avoid foreclosure.