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FORECLOSURE INFORMATION
Foreclosures are on the rise across the country. The main cause is the rise in adjustable mortgage rates for homeowners who purchased in the past two years. Foreclosures also happen with major life changes like job loss; cuts in work hours or overtime; retirement; illness, injury, or death of a family member; divorce or separation. Sometimes bills just pile up. Perhaps you delayed paying some bills to pay others. Eventually it catches up and you might not have enough money for everything.
Are you having trouble keeping up with your mortgage payments? Have you received a "Lis Pendens" or "Notice of Default" from your lender? Loss mitigation counselors negotiate directly with your lender to reduce your monthly payments, or through a sale/lease option you can have your home leased back to you at a greatly reduced rental rate or purchase the home back at a greatly reduced price. Another solution is the Short Sale Option in which you sell your home quickly through a preforeclosure short sale or outright sale transaction.
If you are facing foreclosure, taking action right away can help you protect your family from the loss of your home. |