Avoid Foreclosure – Tip #1

If you are having difficulty paying your mortgage on time, it’s important to act now before things get so bad that you are facing foreclosure. Your first step is to call your lender.  Believe it or not….your lender is your biggest ally if you encounter difficulty paying your mortgage on time!  Call them as soon as you know you are having problems. Do NOT wait!

Your lender or servicer has a number of options to help you stay in or sell your home. These options include forbearance, repayment plans and loan modification – as well as relief under the new Federal housing plan. You can typically find their contact information on your mortgage statement or coupon book.