| Foreclosure rates are rising quickly in this country | | | | you always pay your mortgage before any other |
| because of the slow economy and the financial | | | | bills. Your mortgage is the most important bill you |
| problems people are having. They didn't think they | | | | have. Credit cards should never take precedence |
| would ever find themselves trying to stop home | | | | over your mortgage payment. You can deal with |
| foreclosure on their property. People are forced | | | | the consequences of not paying your credit cards |
| to figure out which bills to pay and which to | | | | a lot easier than you can the consequences of |
| ignore. Home foreclosure problems occur when | | | | not paying your mortgage. |
| people start missing mortgage payments and their | | | | Not paying your mortgage is the worst thing you |
| lender starts calling. You need to know, though, | | | | can do for your credit score. Getting behind on |
| that you can stop home foreclosure. | | | | other bills like credit cards will not damage your |
| Talk to your lender ASAP to examine your | | | | credit as much as getting behind on your |
| options to stop home foreclosure | | | | mortgage. Not paying your mortgage may cause |
| You need to act before you get too far behind | | | | you problems with your credit cards anyway so |
| on your mortgage payments if you want to stop | | | | they should not be a priority when it comes to |
| home foreclosure. You should call your lender as | | | | paying your bills. |
| soon as you know you are going to miss a | | | | Is selling your home a way to prevent |
| mortgage payment and let them know what is | | | | foreclosure? |
| going on with your financial situation. Your | | | | One way to stop home foreclosure is to try to |
| mortgage company would prefer to work | | | | pay your mortgage off by selling your home. You |
| something out with you so they don't lose money | | | | may be able to get out of the financial bind you |
| on your home by going through the foreclosure | | | | are in by selling the home for enough money to |
| process. | | | | pay the mortgage company and still have some |
| You need to be open and honest with your | | | | money left to start over again. This is a good |
| lender. They may work something out with you | | | | way to stop foreclosure and better your financial |
| that reduces your interest rate, which would | | | | situation. |
| lower your payment amount. If you miss one or | | | | Another way to stop home foreclosure is to |
| two payments but then are able to start paying | | | | really cut your spending down to the bare |
| again they can often add those payments back | | | | minimum. If you can cut back your spending |
| onto your mortgage and consider you caught up | | | | enough you may avoid having to sell the home |
| on your mortgage. The lender will not work with | | | | you love. If you are self-employed, one way to |
| you unless you talk to them about what your | | | | save money is to stop renting an office and |
| situation is and ask for help. | | | | make an office in your home. You could also |
| Your mortgage bills or your credit card | | | | consider selling a car and having just one that you |
| payments? | | | | share. You can certainly take several actions |
| You can stop home foreclosure by making sure | | | | aimed at preventing foreclosure. |