HUD Foreclosure Guide Part 2 – Foreclosure Tips

by admin on February 20, 2009

If you think you are at risk of foreclosure, go right away and read the HUD Foreclosure Tips. If you feel like you might miss a house payment in the next month or two because of the loss of a job, medical crisis, family emergency or other problem then you should consider contactin a HUD Approved Counselor (we discussed these in Part 1). There is also a great toll free # you can call 1-800-569-4287.

Each month that goes by without you making a mortgage payment is a dangerous situation. It is even more disastrous if you fail to make contact with your lender. You should at least considering drafting a hardship letter, and then speaking with your lender. The worst thing you could do is ignore the situation as it will only get worse and you won’t get any leniency if you bury your head in the sand.

After every month if your lender hasn’t heard from you, expect a letter and then phone calls. They will be wondering when you plan to make payments. During the entire time you should consider contacting a housing counselor as they are there to help for these exact situations.

The key to all of this is to keep talking. It’s not fun to consider foreclosure, but keep your head up and you’ll get through it.

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