Colli Real Estate

Five Ways to Avoid Foreclosure

Five Ways to Avoid Foreclosure

If you find yourself living from paycheck to paycheck just to make ends meet, fears of foreclosure on your home may be getting on your nerves already. There is no time to dwell on your problems and do nothing.  Get your act together before it’s too late. Facing foreclosure is a serious problem experienced by millions of Americans during this time of economic recession.

In fact, a recent survey reveals that forty-five percent (45%) of Americans fear that they may face foreclosure in the next year, while thirty percent (30%) have already gotten in touch with their lenders to ask for a payment reduction.

The National Association of Foreclosure Prevention Professionals recommends these five tips to avoid foreclosure:

1.    Investigate lenders. Before committing yourself into any mortgage contract or deed of trust, make sure that you have extracted all your options.  Research different lenders.  Do not settle for the first one you get a hold of.  Interest rates and loan details vary from one lender to another.  Know the exact terms and conditions imposed by your chosen lender.  It pays to be careful and inquisitive.

2.    Get financial counseling. Meeting with a financial consultant makes your home loan much easier to manage.  Search the internet for free tools and resources that will help keep your finances in great shape.  There are also established financial firms, such as Graceful Financial Solutions (GFS), that offer free consultations to educate and get you on the right track towards a stress-free home purchase.

3.    Pay bills on time. As difficult as it may seem, it is still best to keep track of your finances and pay your bills before they are due.  Regardless of how busy you are, be sure to fulfill your mortgage obligations.  It is better to face the real status of your financial situation now than receiving a letter from your lender stating you have defaulted on your home loan.  Apportion payments for all of your other bills such as utilities, insurance and credit cards.  Take advantage of online banking to help schedule and pay your bills easily.

4.    Get out before the storm hits. The moment you find yourself facing foreclosure, as you have already defaulted on your payments and foreclosure proceedings are already in effect, try to calm yourself down and do not panic.  You can find a way to get out of this miserable situation.  Communicate with your lender or better yet, seek the help of someone who knows how to handle foreclosure concerns.

5.    Know your options. Leading Michigan financial firm, Graceful Financial Solutions (GFS), advises clients facing foreclosure to consider solutions such as a loan modification that will allow the restructuring of payment plans, making them more affordable and manageable.   Giving up on your precious home is not the only way out.  You have options.  Research and do not be afraid to ask.

GFS representatives are experts in personal credit restoration, business credit building, credit and debt counseling, and debt settlement. GFS is committed to helping people reach their financial goals and dreams through trusted methods that guarantee results.

About the Author

Call Today 1-800-733-6170 or visit gracefulfinancial.com to schedule your free consultation so we can personally understand your situation and better help you. Graceful Financial Solutions, Because He Has Been So Graceful To Us.

Free Foreclosure Prevention Help CBS5.wmv

The Foreclosure Workbook $16.99 “America’s #1 Do-It-Yourself Foreclosure Prevention Resource Across the nation, foreclosures are on the rise due to designer mortgages, rising debt ratios, and depressed housing markets. Most homeowners have no idea where to find basic, credible, and instructional information about the foreclosure process, or what to do when facing the time crunch before an auction. The Foreclosure Workbook is a revolutionary system that provides an unprecedented approach to foreclosure avoidance, protection, and survival. This workbook presents a proven step-by-step process that guides the homeowner in distress through the hurdles of foreclosure, and presents critical information about state procedures, foreclosure protection legislation, con artists, options, and much more This is the one-stop resource that homeowners need – arming them with easy to understand facts and processes for how to maneuver through the onslaught of mail they receive, fight off foreclosure scams, and organize and prepare a plan for saving their home and credit. Carla Douglin is a national speaker, CEO of Dominion Foreclosure Consulting Services, Inc., and founder of Dominion Housing Counseling Services, a nonprofit organization. For more information, visit our website at www.dfcscorp.com, and view our blog at foreclosuretipsfactsfumbles.blogspot.com”

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