Mortgage Foreclosure Prevention

Don't Become the Next Casualty of the Mortgage Industry

Financial situations change and that sometimes results in a person not being able to make their mortgage payments. When this occurs, mortgage foreclosure is in the cards. But just because it is in the cards doesn't mean that such a fate is inevitable. However, it is important that you know what you need to do to prevent mortgage foreclosure. It is important because trying to get a mortgage after foreclosure is going to be difficult for quite some time.

Understanding the process

It is important that you understand the mortgage foreclosure process. Once you have become 30 days delinquent on your mortgage payment, the lender must have the past due amount and the current amount due in order to satisfy the delinquency of the loan. Once the payment is past due by more than a month, the bank will start making preparations to foreclose upon your home. If the payments continue to stay past due and they accumulate, then the bank will then have a foreclosure notice served to you by your county sheriff's office to vacate the home by a certain date. What results is you having to move, you lose your home, and you have a foreclosure on your credit report for years to come. Unfortunately, it will be very difficult to receive a mortgage after foreclosure with this black mark on your credit report.

Prevent mortgage foreclosure

Now that you have mortgage foreclosure information, it is necessary to know how to prevent it. If you need help with the process, we have specialists who are ready to do the following:

  • Negotiate a forbearance in case you need to take a break from payments due to a qualifying situation such as injury.
  • Negotiate a payment plan with your lender.
  • Reinstatement when you get back on your feet.
  • Modification of your mortgage, especially if it is an adjustable rate mortgage.
  • If your mortgage is FHA-insured, you can do a partial claim.

Those are just some of the options you have to prevent mortgage foreclosure and we want to help. Simply fill out our online form or give us a call for your free no-obligation consultation.

 
 
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Foreclosure | Avoid Foreclosure | Mortgage Foreclosure | Loss Mitigation | Short Sale

Disclaimer: CLEARHOMERELIEF is not a government sponsored website. CLEARHOMERELIEF.com matches consumers with companies that offer foreclosure prevention services. To access information on government sponsored assistance, please visit makinghomeaffordable.gov
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