8 Easy Steps To Save Your Home And Prevent California Foreclosure
Unfortunately the California foreclosure rate is extremely high and you need to understand how to deal with the banks and other agencies to prevent foreclosure and save your home. Below are a few basic guidelines to follow if you are on the verge of a California foreclosure.
1. Don't ignore the problem. The further behind you get on your mortgage, the harder it will be to reinstate your loan and the harder it will be to save your home from foreclosure in California. Now is not the time to bury your hand in the sand.
2. Contact your lender as soon as you realize that you have a problem. You must understand that the banks don't want your house as California foreclosures are at record highs.. They may have some viable options to assist you in getting through these difficult financial times.
3. Open and respond to all mail from your lender if you intend to save your home. The first notices you receive will offer good information about California foreclosure prevention options that can help you weather financial problems. Later mail may include important notice of pending legal action. Your failure to open the mail will not be an excuse in foreclosure court.
4. Know exactly what your mortgage rights are regarding California foreclosure proceedings. Find your loan documents and go through them carefully so you are aware of what your lender may do if you can't make your payments. Learn about the California foreclosure laws in your state (because every state is different) by contacting the State Government Housing Office.
5. Be aware of all of the options you have available to prevent foreclosure and save your home. Valuable California foreclosure prevention (or loss mitigation) information can be found at www.fha.gov/foreclosure.
6. Prioritize your spending. After health care, taking action to save your home should be your first priority. Review your finances and see where you can cut spending in order to make your mortgage payment. Look for optional expenses-cable TV, memberships, entertainment-that you can eliminate. Delay payments on credit cards and other "unsecured" debt until you have made the payments necessary to save your home.
7. Make use of your assets to save your home. Do you have any valuable assets like a second car, additional furniture, a life insurance policy that you can sell quickly? Perhaps a garage sale or a second job could help you bring in extra money to cover your mortgage expense? Even if these efforts don't raise all the money you need to make your mortgage payment, they demonstrate to your lender that you are willing to make every effort to save your home from foreclosure.
8. Don't lose your home to California foreclosure recovery scams! Be very careful about signing any documents assigning them to act on your behalf because you may be signing over the title to your home and becoming a renter in your own home! Never sign a legal document without careful reading and clarity on all the terms and conditions. Getting professional advice from a trusted real estate professional or real estate attorney is always wise.
Take heed to the advice above and use your common sense when making decisions about preventing a California foreclosure and attempting to save your home.
1. Don't ignore the problem. The further behind you get on your mortgage, the harder it will be to reinstate your loan and the harder it will be to save your home from foreclosure in California. Now is not the time to bury your hand in the sand.
2. Contact your lender as soon as you realize that you have a problem. You must understand that the banks don't want your house as California foreclosures are at record highs.. They may have some viable options to assist you in getting through these difficult financial times.
3. Open and respond to all mail from your lender if you intend to save your home. The first notices you receive will offer good information about California foreclosure prevention options that can help you weather financial problems. Later mail may include important notice of pending legal action. Your failure to open the mail will not be an excuse in foreclosure court.
4. Know exactly what your mortgage rights are regarding California foreclosure proceedings. Find your loan documents and go through them carefully so you are aware of what your lender may do if you can't make your payments. Learn about the California foreclosure laws in your state (because every state is different) by contacting the State Government Housing Office.
5. Be aware of all of the options you have available to prevent foreclosure and save your home. Valuable California foreclosure prevention (or loss mitigation) information can be found at www.fha.gov/foreclosure.
6. Prioritize your spending. After health care, taking action to save your home should be your first priority. Review your finances and see where you can cut spending in order to make your mortgage payment. Look for optional expenses-cable TV, memberships, entertainment-that you can eliminate. Delay payments on credit cards and other "unsecured" debt until you have made the payments necessary to save your home.
7. Make use of your assets to save your home. Do you have any valuable assets like a second car, additional furniture, a life insurance policy that you can sell quickly? Perhaps a garage sale or a second job could help you bring in extra money to cover your mortgage expense? Even if these efforts don't raise all the money you need to make your mortgage payment, they demonstrate to your lender that you are willing to make every effort to save your home from foreclosure.
8. Don't lose your home to California foreclosure recovery scams! Be very careful about signing any documents assigning them to act on your behalf because you may be signing over the title to your home and becoming a renter in your own home! Never sign a legal document without careful reading and clarity on all the terms and conditions. Getting professional advice from a trusted real estate professional or real estate attorney is always wise.
Take heed to the advice above and use your common sense when making decisions about preventing a California foreclosure and attempting to save your home.
About the Author:
Discover a simple new solution to California foreclosure prevention that can save your home and create instant equity to secure your financial future. Go to http://saveyourrealestate.com for a REAL solution to your foreclosure problem TODAY!
posted by Debt Consolidation Loan at
8:56 AM
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