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What to do if you are facing Foreclosure
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Posted On :
Jul-15-2009
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Article Word Count :
484
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If you are facing foreclosure, the first thing to remember is do not panic. If you panic, then you can fall prey to fraudulent individuals that determined to make your situation even worse. The various scams out there are hitting people all across the nation.
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If you are facing foreclosure, the first thing to remember is do not panic. If you panic, then you can fall prey to fraudulent individuals that determined to make your situation even worse. The various scams out there are hitting people all across the nation. You may read an advertisement in the newspaper, watch an ad on television, receive a telephone call, or even find a website online that offers help for trouble homeowners that are near to foreclosure. You may not think these companies are out to hurt you in any help but truly want to help. The problem is that these fraudulent individuals will promise that you will receive “something” for signing over the deed of your home. After you sign the dotted the line and give them the deed the party is over. They have your home and you have nothing.
Any person that asks you to sign the deed to your home and they will help you out of the situation is not a person you wish to work with. These individuals know how to manipulate you into what they say is a good thing, but once they are the owners of the deed they can charge you whatever they want if you wish to stay in the home, which can be more than you are paying at this time. They may even decide they do not want you in the home and they have the legal right to evict you.
The best way in which to stop foreclosure is to talk with your lending company. You can always talk with a qualified realtor that can help you with all negotiations so you can short sale your home. If you want to stay in your home, you can talk with the lender about a modification to your existing loan or refinance the loan. There are many ways you can avoid foreclosure but you cannot sit back and hope for a miracle to land in your lap.
Today, the Federal Government is working to help American stay in their home and the lending companies are now ready to listen to those in trouble. You may be able to refinance your loan, change the terms so you can afford your payments, or possibly receive a deferred payment plan.
According to the reasons, you are having problems paying your mortgage you do have options. If you lost your job, a death in the family, illness, or the mortgage payment has increased due to interest rate there are options available. In the majority of cases, the lender does not want you to lose your home. They are not in business to sell property, but they are in the loan business. It is often in their best interest to work with homeowners than go through the foreclosure process and then try to sell the property.
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Article Source :
http://www.articleseen.com/Article_What to do if you are facing Foreclosure_1764.aspx
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Author Resource :
FL Realty Agents is your answer for finding a Florida Short Sale, Miami Short Sale, or a Palm Beach Short Sale.
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Keywords :
Florida short sale, South Florida short sale, Florida short sales, short sales in Florida,
Category :
Business
:
Business
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