| The last thing a homeowner wants to face is the | | | | added to your unpaid balance on your mortgage. |
| possibility of foreclosure. Troubles with finances | | | | Homeowners who qualify for this program may |
| can happen suddenly and without warning, leaving | | | | be able to extend repayment of their past due |
| a homeowner despondent over where to find | | | | bills over the remaining term of the loan. |
| enough money to pay the mortgage. Whether | | | | Government Loans - Homeowners who can |
| this crisis arises from an medical emergency of | | | | make the monthly payments on the mortgage |
| loss of employment, it is important to immediate | | | | may qualify for special government loans that |
| consider your options so you don't lose more. | | | | create a second lien on their property for the |
| With regards to regaining your financial foothold | | | | unpaid amount. This money is then made payable |
| and keeping your property, there are a number | | | | to the US Government. |
| of alternatives homeowners can consider. | | | | Pre-Foreclosure Sale - Foreclosure can wreak |
| Consulting with a loss mitigation specialist can | | | | havoc on your credit rating. If you are in danger |
| steer you in the proper direction, so you can find | | | | of losing your home and are unable to make |
| your financial solution quickly and handle any | | | | payments, you have the option of selling before |
| mortgage and loan issues with care. Here are just | | | | any marks can be made against your credit. |
| a few suggestions on how one can intercept | | | | Different homeowners will qualify for different |
| foreclosure: | | | | options to avoid foreclosure. Seeking the advice |
| Modification - With the modification plan, delinquent | | | | of a loss mitigation professional is a good step in |
| interest, taxes, and /or insurance payments are | | | | preserving your property and your credit rating. |