How To Stop A Foreclosure Sale Immediately - Methods of Preventing Foreclosure

You want to keep your home, but have fallen behind on your mortgage payments to the point where the bank is threatening foreclosure on it. You’re scared, worried and totally stressed out about how to avoid foreclosure.
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Aug. 28, 2012 - PRLog -- Do you know how to get your house out of foreclosure? If you don’t, you are not alone. Most homeowners facing the process don’t know either. The very first thing you should do is contact your lender to tell him what’s going on. Show him proof that you’ve had a change in monthly household income, there’s been an addition to the family, or that you’ve become responsible for your elderly parent, which has taxed your finances. Then ask if you can work out a loan modification or a refinance of your mortgage to make it easier on you to make your payments. Believe it or not, your lender does not want to foreclose on your home; he’d really rather you keep it, so talk with him to see what can be done.

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Here are some ideas on how to stop the foreclosure process. You want to go through your finances with a debt counselor so you can identify what went wrong, and at what point it did so. The counselor can help you to restructure your finances so you can handle the mortgage more comfortably. If you’ve contacted your lender and he has refused to work with you, get a lawyer who specializes in foreclosure cases. He can help you with your fight to keep your home. Look into government-sponsored programs, like the Emergency Homeowner’s Loan Program, too. There are other mortgage help programs, as well, which are about to be defined.

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The other government-sponsored programs that can help you learn how to stop home foreclosure are HAMP (home affordable Modification Program) and those under the Department of Housing and Urban Development (HUD). The HAMP plan is designed for at-risk homeowners and those who have just recently fallen into mortgage default.  As long as you’re working, if you’re struggling to make your mortgage payments each month HAMP can help you with a loan modification – a restructuring – of your current mortgage so you can remain in your home and not have to go into foreclosure. HUD modification plans are crafted for those who can prove financial hardship and can reasonably handle a lower monthly payment. You may apply for these programs through your lender.

More information on the subject of foreclosure is available at, where there’s always someone available to help you.
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