Have An Adjustable Rate Mortgage That You Are Having Trouble Paying?

Here is a link to an article that offers some helpful advice for those that are having trouble making the monthly payments on their adjustable-rate mortgages.

The number of homes that are going into foreclosure are increasing at an alarming rate and something just has to be done to help people from losing their homes!

Avoiding Foreclosure - Help

As the number of foreclosures increases there may be more help available for you then you realize:

Here are some very good tips to follow to help you to try to avoid foreclosure

Do NOT ignore the lender.

Somehow getting behind on a mortgage comes with a built in belief that phoning your lender constitutes a sin or that a call to a lender will result in their ripping your head off right through the chord. In truth, most lenders appreciate knowing why you are having trouble and like updates on how things are going, especially when your problems have justified reasons like health issues or the loss of a job. Treat letters from your lender as wake up call from a concerned neighbor rather than a threat from a bully. Remember – banks want to help get you back on track, they want their payments not your house. If you do not think you can talk to them yourself about a plan there are professional foreclosure negotiators who can help if you have fallen behind.

And this tip I like the best!

Do NOT think you have no options, Do NOT fail to take advantage of
them.

You may believe, or your lender may lead you to believe, that you must pay them in full or lose your home to foreclosure. In fact, many options exist which will allow you to keep your house and stop the foreclosure proceeding without paying all of your arrearage at once. Some choices may even reduce what you owe on your property by tens of thousands of dollars. Almost everyone has some options and the sooner you act the more options you have. As the foreclosure date gets closer, options continue to become unavailable until by the foreclosure date only payment in full or a bankruptcy filing remain. Read more about what foreclosure prevention options you have and take action as fast as you can.

Going Into Foreclosure? It Doesn't Necessarily Mean The End!

Is your home going into foreclosure? It doesn't necessarily have to mean the end!

I have written a lot about foreclosures on this blog. First off there are going to be so many more of them this year and also too I think that going through foreclosure is a terrible thing! I know a neighbor in my area whose family lost their home because of the property taxes not being paid.

If your home is in foreclosure there are some things that you can do that can maybe help your situation. I guess the first piece of advice would be for you to avoid the foreclosure process in the first place by paying your mortgage on time but I realize that that isn't always possible. Sometimes an emergency financial crisis will pop up out of nowhere and you have to choose between the lesser of 2 evils.

If you think that you are going to not be able to make your mortgage payment you should call your mortgage company and discuss it with them. Some mortgage companies may re-negotiate your payments to a smaller amount. It is a common-held belief that a lot of the mortgage companies don't want to have to put your property in foreclosure because they lose out so they may be very willing to work with you to help make your payments more manageable.

Secondly you may be able to qualify for some grant programs to help pay for the mortgage payments that you missed. Beside government grant programs you should also look into other grant programs to help you. There are a number of "financial emergency" grant programs that will provide grant money that you don't have to pay back to help you pay your back mortgage payments.

Lastly every state's foreclosure process is different. Sometimes it can take as much as six months for the foreclosure to take place and in that amount of time you may be able to pay the money that is owed.