8 Easy Steps To Prevent California Foreclosure & Save Your Home
There are countless families that are stressed out due to the fact that they are facing a California foreclosure and it is very important for you to know how to handle the situation if you are forced to save your home. Below are a some sound guidelines to follow if you are dealing with a foreclosure in California.
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 any mail you get from the lender even if it mentions that a California foreclosure may be looming overhead. The first pieces of mail you receive will offer solid information about foreclosure prevention options that can help you weather financial storm. Other mail you receive may include important notices of pending legal action. Keep all of these documents in one place and remember that not opening the mail is not an excuse the banks or courts will accept to save your home.
4. Knowing your mortgage rights will help you save your home. Find your loan documents and read them so you know what your lender may do if you can't make your payments. Learn about the laws regarding foreclosure in California and the time frames in your state (as 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. Right after healthcare, the next priority is to save your home. Review your budget to see where you can cut costs in order to make your mortgage payment and avoid a foreclosure. Look closely at optional expenses like cable television, special memberships and other miscellaneous spending that you can eliminate. Delay payments on "unsecured" debt (like credit cards) until you have made your mortgage payment.
7. Use your assets. Do you have assets -- a second car, jewelry, a whole life insurance policy -- that you can sell for cash to help reinstate your loan? Can anyone in your household get an extra job to bring in additional income? Even if these efforts don't significantly increase your available cash or your income, they demonstrate to your lender that you are willing to make sacrifices to save your home.
8. Don't forfeit your house to a California foreclosure recovery scam! Be extremely careful about signing any documents assigning another person to act on your behalf because you may be signing over the ownership of you home to a complete stranger! Only sign a legal document after careful reading and understanding the terms and getting solid professional advice from a trusted real estate or legal professional.
Refer back to the tips and advice above for guidance and and use common sense when making decisions about preventing a California foreclosure and taking measures 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 any mail you get from the lender even if it mentions that a California foreclosure may be looming overhead. The first pieces of mail you receive will offer solid information about foreclosure prevention options that can help you weather financial storm. Other mail you receive may include important notices of pending legal action. Keep all of these documents in one place and remember that not opening the mail is not an excuse the banks or courts will accept to save your home.
4. Knowing your mortgage rights will help you save your home. Find your loan documents and read them so you know what your lender may do if you can't make your payments. Learn about the laws regarding foreclosure in California and the time frames in your state (as 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. Right after healthcare, the next priority is to save your home. Review your budget to see where you can cut costs in order to make your mortgage payment and avoid a foreclosure. Look closely at optional expenses like cable television, special memberships and other miscellaneous spending that you can eliminate. Delay payments on "unsecured" debt (like credit cards) until you have made your mortgage payment.
7. Use your assets. Do you have assets -- a second car, jewelry, a whole life insurance policy -- that you can sell for cash to help reinstate your loan? Can anyone in your household get an extra job to bring in additional income? Even if these efforts don't significantly increase your available cash or your income, they demonstrate to your lender that you are willing to make sacrifices to save your home.
8. Don't forfeit your house to a California foreclosure recovery scam! Be extremely careful about signing any documents assigning another person to act on your behalf because you may be signing over the ownership of you home to a complete stranger! Only sign a legal document after careful reading and understanding the terms and getting solid professional advice from a trusted real estate or legal professional.
Refer back to the tips and advice above for guidance and and use common sense when making decisions about preventing a California foreclosure and taking measures to save your home.
About the Author:
Discover a brand 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 NOW!
posted by Debt Consolidation Loan at
8:43 AM
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