Ten Steps You Can Take to Prevent a Foreclosure

If you are a struggling homeowner in danger of falling behind in your mortgage payments (or if you’ve already fallen behind), you should be proactive when it comes to saving your home from foreclosure. Your mortgage lender doesn’t really want your home and will likely work with you to keep you in

Avoiding Foreclosure: Basic Workout Options From Your Lender

If you aren’t eligible to benefit from the federal government's Making Home Affordable program, you still may be able to work something out with your mortgage servicer. Repayment Plan: Keeping Current and Catching Up With a repayment plan, you arrange to make up missed payments over time and stay current

Your Options to Avoid Foreclosure

Here’s are your main alternatives when you think foreclosure is on the horizon. Reinstate Your Mortgage If you have enough cash, you can “reinstate” your mortgage by making up all the missed payments plus fees and interest the lender charges you. Your state’s law will probably give you a certain

Avoiding Foreclosure During Divorce

When a married couple takes out a mortgage, the couple often obtains the loan and takes title to the property jointly. If the couple then divorces, the issue of what will happen to the home can get complicated and, as a result, the couple may also face a foreclosure. If you are going through a divorce,

Last Minute Strategies to Stop Foreclosure

If you are facing foreclosure, you might be able to stop the process by filing for bankruptcy, applying for a loan modification, or filing a lawsuit.

How to Get a Mortgage Loan Modification

If you're struggling to pay your mortgage, you might be able to get a loan modification that will lower your payments.

Should I stop paying my mortgage so I qualify for a loan modification?

Question Right now I can afford my monthly mortgage payments on my home, but I probably won’t be able to in the near future. I called my mortgage servicer (the company I make my monthly payments to) and the representative I spoke to told me to stop making payments on my loan so I could qualify for

Can I work with just one person from the lender's office when I apply for a mortgage modification?

Question I am one month behind in the mortgage payments for my home. I’m thinking about applying for a mortgage modification to make my payments more affordable, but I’m nervous about the process. My friends who've tried to get their loans modified have told me horror stories about rude employees

What is a complete application for purposes of a mortgage modification?

Question My house is about to go into foreclosure, but I’m hoping to get a mortgage modification from my bank to make the payments more affordable.

I missed my last mortgage payment. Will my lender contact me to discuss my options?

Question I have owned a home for many years and have always paid my mortgage on time, but a few months ago I lost my job. I wasn’t able to come up with enough money to cover all of my bills last month and I missed my last mortgage payment. Will my lender contact me to discuss my options to avoid a

Loan was transferred and new servicer won't acknowledge pending mortgage modification -- now what?

Question I am in default on my mortgage payments and my house is about to go into foreclosure.

Should I Apply for a Mortgage Modification Before or After Divorce?

Getting a mortgage modification while you’re going through a divorce can be tricky. You’ll need to get your timing right and make sure all your ducks are in a row.

Is my mortgage servicer really the right place to go for a loan modification?

If your bank turned handling of your loan over to a mortgage servicer, then that's your first stop in asking for a loan modification.

What Happens If My Servicer Changes While I'm in the Middle of Applying for a Loan Modification?

Understanding your legal rights in the event that a new company takes over the day-to-day administration of your home mortgage loan.

Avoiding Foreclosure: Can Someone Else Assume (Take Over) the Mortgage?

If you have fallen behind on your mortgage payments and want to leave your property, one possible option to avoid foreclosure is a mortgage assumption. Read on to learn what it means to “assume” a mortgage, when a mortgage can be assumed, and how a mortgage assumption could help you prevent a foreclosure.

National Mortgage Settlement: Rules to Help Protect Homeowners in Foreclosure

The National Mortgage Settlement with five of the largest mortgage servicers (Ally/GMAC, Bank of America, Citi, JPMorgan Chase, and Wells Fargo) set new standards for the servicing of loans.