Preventing Foreclosure: a Surprisingly Simple Secret

By: Jackson Chan

Do you want to know the first thing you must do to avoid foreclosure?? It may be very hard to do, but it won't be harder than losing your home.?

Not doing this one thing now while there's still time will make your situation worst.? It doesn't matter what other strategy you may have to rescue your home... Do this one thing FIRST, then go ahead and try anything else that may help.

I'll tell what you must do first to avoid foreclosure.? Then I will explain the three possible reasons why you may not have thought about doing this one thing first and perhaps by understanding your avoidance, you may develop the courage to take action.

The first thing you must do to avoid foreclosure is to talk to your lender.

You look shocked and surprised!? Don't be.? That's what you must do regardless of whatever else you'll try to save your home.?

Here are three reasons why you haven't thought of this:

1. You just didn't know...

Lenders have special departments that handle foreclosure.? You must talk to these people because believe it or not, they will work with you to save your home if you're willing to talk to them about your situation now rather than later.

2. You don't know what to say...

Lenders want to see that you're sincerely making an effort to pay off your mortgage.? Explain to them why you have missed your payments or why you can't pay the full amount.? You can present a budget showing were you've cut or reduced your expenses in other areas and what you have left over to pay them.

3. You're afraid to talk to them...

Lenders are willing to help you if you don't avoid their late payment notices.? If you respond immediately and tell them your situation and what you're doing about it, then they'll give you a chance...? However, if you don't respond and don't explain why you haven't made your payments, then they may not be so nice and that is why you may be afraid to talk to them.

Talking about your financial and personal situation to anyone is not easy, but you must if it will help you avoid foreclosure.? You must overcome what is mentally preventing you from talking to your lender, and then push yourself to talk to them.? The sooner you do it the better off you'll be.

Copyright ? 2008 by Jackson Chan??

Foreclosures
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