Tag Archives: Avoiding foreclosure

Avoiding foreclosure

You scrimp and save for years, and you finally purchase your dream home, but then an incident or series of incidents comes along, causing you to fall behind on your payments. Instead of helping, many lenders will start the foreclosure process on your property. What should you do? First and foremost: Never ignore the lender! Usually, around 30 days after missing your first payment, the lender will begin trying to reach you either through snail mail or telephone. Ignoring their letters and calls will only make the situation worse. Think like the lender for a moment. If they are contacting …

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