How a Telephone Can Prevent Foreclosure
The Top 5 Reasons For Foreclosure and How to Deal With Them Call Avoidance is The Number One Cause of Foreclosure.
More than 50% of people who lose their homes in foreclosure NEVER speak to their lender.
That is a staggering statistic! Once you force yourself to pick up that phone, you will realize that you can save your home by communicating with your lender.
This Article should convince you to pick up the phone and make those crucial phone calls.
Call avoidance is an unnecessary part of each of the remaining reasons for foreclosure: Divorce: Divorce is a life altering problem and a division in a household can cause people to lose their home in foreclosure.
A well known statistic today is that one in about every two marriages end in a divorce, unfortunately it's true.
Depending on which spouse keeps the house this can be the determining factor of who will take over the monthly mortgage and other household bills.
The legal cost of divorce itself can be the cause of losing a home in foreclosure.
If you are in this situation CALL YOUR LENDER to ask for assistance.
They may have a way to help you keep your home, whether it is a payment deferment, forbearance, or a modification.
Medical Problems and Bills: Unexpected illnesses and the medical bills that come along with them can cause a foreclosure.
Many people can't afford these unexpected bills and do not have the insurance coverage to pay all of them.
Many homeowners live paycheck to paycheck, barely making their mortgage payment each month.
When a medical emergency arises within the family, the monthly bills including mortgage payment can become secondary and get placed on the back burner.
Unfortunately ignoring your mortgage arrears and not dealing with them can cause you to lose your home in foreclosure.
If you are in this situation CALL YOUR LENDER to ask for assistance.
They may have a way to help you keep your home, whether it is a payment deferment, forbearance, or a modification.
Job Loss or Decrease in Income: This is a frequent cause of foreclosure.
The current economy is in a shambles and unemployment is above 10%.
As the unemployment rate goes up it is safe to assume that foreclosure numbers will go up as well.
Some people have stashed away reserves that help them get through these times.
Unfortunately the reality is that most people have not.
Many homeowners who face a job loss cannot pay monthly bills and they fall behind in their mortgages.
A large number of Americans derive income from their own business and the current economic climate everyone is suffering.
Calling your lender to ask for assistance is the key to avoiding foreclosure.
Death of A Family Member: Death is the single most destructive event for a family.
Death quite often can cause a family to lose everything.
Least among these is their home.
If the sole income provider for the family has died, then it is very likely that the remaining family will lose their home in foreclosure.
Unfortunately, there are few options available for people in this situation.
Some States have special programs and Grants available to help those who find themselves in these circumstances.
Once again a call to the lender can help you to slow the pace of foreclosure activity.
A deferment, forbearance, or other assistance granted by your lender could be just what the doctor ordered to save your family home.
Remember it all begins with a phone call.
Most reasons for foreclosure can be mitigated.
The key is picking up the telephone and getting concessions and assistance from your lender.
Be careful, many lenders have systems in place to prevent non deserving people from getting un-necessary assistance.
If you have a real hardship, can still afford to make some sort of reasonable payment avoiding foreclosure might be just a phone call away.
More than 50% of people who lose their homes in foreclosure NEVER speak to their lender.
That is a staggering statistic! Once you force yourself to pick up that phone, you will realize that you can save your home by communicating with your lender.
This Article should convince you to pick up the phone and make those crucial phone calls.
Call avoidance is an unnecessary part of each of the remaining reasons for foreclosure: Divorce: Divorce is a life altering problem and a division in a household can cause people to lose their home in foreclosure.
A well known statistic today is that one in about every two marriages end in a divorce, unfortunately it's true.
Depending on which spouse keeps the house this can be the determining factor of who will take over the monthly mortgage and other household bills.
The legal cost of divorce itself can be the cause of losing a home in foreclosure.
If you are in this situation CALL YOUR LENDER to ask for assistance.
They may have a way to help you keep your home, whether it is a payment deferment, forbearance, or a modification.
Medical Problems and Bills: Unexpected illnesses and the medical bills that come along with them can cause a foreclosure.
Many people can't afford these unexpected bills and do not have the insurance coverage to pay all of them.
Many homeowners live paycheck to paycheck, barely making their mortgage payment each month.
When a medical emergency arises within the family, the monthly bills including mortgage payment can become secondary and get placed on the back burner.
Unfortunately ignoring your mortgage arrears and not dealing with them can cause you to lose your home in foreclosure.
If you are in this situation CALL YOUR LENDER to ask for assistance.
They may have a way to help you keep your home, whether it is a payment deferment, forbearance, or a modification.
Job Loss or Decrease in Income: This is a frequent cause of foreclosure.
The current economy is in a shambles and unemployment is above 10%.
As the unemployment rate goes up it is safe to assume that foreclosure numbers will go up as well.
Some people have stashed away reserves that help them get through these times.
Unfortunately the reality is that most people have not.
Many homeowners who face a job loss cannot pay monthly bills and they fall behind in their mortgages.
A large number of Americans derive income from their own business and the current economic climate everyone is suffering.
Calling your lender to ask for assistance is the key to avoiding foreclosure.
Death of A Family Member: Death is the single most destructive event for a family.
Death quite often can cause a family to lose everything.
Least among these is their home.
If the sole income provider for the family has died, then it is very likely that the remaining family will lose their home in foreclosure.
Unfortunately, there are few options available for people in this situation.
Some States have special programs and Grants available to help those who find themselves in these circumstances.
Once again a call to the lender can help you to slow the pace of foreclosure activity.
A deferment, forbearance, or other assistance granted by your lender could be just what the doctor ordered to save your family home.
Remember it all begins with a phone call.
Most reasons for foreclosure can be mitigated.
The key is picking up the telephone and getting concessions and assistance from your lender.
Be careful, many lenders have systems in place to prevent non deserving people from getting un-necessary assistance.
If you have a real hardship, can still afford to make some sort of reasonable payment avoiding foreclosure might be just a phone call away.
