Avoid Foreclosure
When you sign on a loan, you are entering into a legal and binding contract. If failing to make payments breaks this contract, you are subject to foreclosure. The following steps have been proven to help prevent the loss of your home.
- Have a proper budget
- Consult with one of our Loan Officers to understand your financial boundaries
- Purchase a home within your means
- Review your budget to build an awareness of your purchase ability
- If life puts you in a position where you are challenged to pay your mortgage
- Speak with your loan servicing department to find out what options they provide
- Speak with your trusted real estate agent to find out what options you have regarding selling your home
- Speak with your trusted Loan Officer to see what options you have regarding refinancing your home
- Do not make any decisions until you have completed the steps above
- Always communicate with your lender
- Don’t fall behind- keep in regular contact with your lender
- Remember you are in a legal contract
- Have everything reviewed by a lawyer before agreeing to any negotiations or payment changes between you and your lender
