Stop Foreclosure Warning - Don't Be Fooled

If you want to stop foreclosure and have searched the internet looking for help, you have found all sorts of websites making all sorts of promises to stop foreclosure. There are a lot of self described "foreclosure specialists". I say self described because there is not any government or private organization that certifies "foreclosure specialists". Just what are their qualifications to be a "foreclosure specialists"?

You will also see a lot of websites that will not tell you what they can or will do about stopping foreclosure until after you give them your private information. To me, websites that first want your information are suspect of being less than honorable.

Some sites are looking for people that they can make home loans to. And most of these are high interest loans. Other websites are looking to buy your house from you at below market prices. Some websites are just plain scam artist trying to steal your money.

Most internet websites will not tell you that there is only one way to stop foreclosure.

The only way to stop foreclosure is to pay your mortgage lender.

If you do not pay, you will not stay in your house. It is just like a car loan. If you do not make your car payments, the auto lender will repossess your car and you will lose it.

The foreclosure law of each state is based on one of two legal theories. Your state is either a "lien" theory state or a "title" theory state. In a lien state, the mortgage is a lien on your house. If you do not pay your payments, your lender can file a foreclosure action to enforce its lien. Your lender will either get the money you owe it or get your house. In a title state, the mortgage is normally called a Deed of Trust. It is a title to your house that is valid if you do not pay your payments to your lender. If you do not pay, your lender will take action to enforce its deed. Your lender will either get the money you owe it or its deed to your property will be enforced. Regardless of the legal theory used in your state, if you do not pay your house lender, you will lose your house.

When I say you have to pay your mortgage lender, I do not mean that you necessarily have to payoff in full your mortgage to keep you home. Rather, depending on your situation, you may have several options on how to pay your lender over time and stop foreclosure.

If you are facing foreclosure, it very important that you do something. Otherwise, you will lose your home.

This article is general information. If you have any questions of any nature concerning stopping foreclosure, talk with a lawyer licensed in your state.

Stop! Don't blindly chase any option to stop foreclosure. See stop foreclosure options to learn what options you have in your situation. Remember, what works in one person's situation, may or may not work in your situation to stop, avoid, and prevent foreclosure. For more general information, see Stop Foreclosure - Five Options You Need To Know.

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