Foreclosure Prevention Tips

• Do not pay doctor bills or credit card debt ahead of the mortgage. Keep mortgage payments current if possible.
• Negotiate with the lender to restructure your mortgage. If the loan is guaranteed by a federal or state agency, the lender may be required to grant assistance, or provide other options, to avoid foreclosure.
• Sell the house before it goes into foreclosure. If your mortgage is higher than the home’s market value, you may be able to persuade the lender to allow you to sell it for less and forgive the rest of the debt.
• If you’re about to lose your home, filing for bankruptcy can stop the foreclosure process and allow you more time to try to work out a plan to keep the home. Get legal advice from an attorney specializing in bankruptcy.

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