Get home improvement and gardening tips from ParadoxPro Home and Garden. Please bookmark this site for a return visit.

Home Buying and Selling
Home Decor and Improvement
Mortgages and Insurance
Lawn and Garden
Hobbies and Investments
Organizing, Cleaning
ParadoxPro Home and Garden (home)

Try these articles:

going green at home, being environmentally friendly
keep mosquitoes out of your home and yard
waterproofing your basement
how to avoid foreclosure and keep your home
security, alarm systems for your home
sunroom or solarium: a bright addition
remodeling your kitchen
which home mortgage loan is best for you
determine your home's value for selling
find two more hours in every day.


How to Avoid Foreclosure and Keep Your Home

Today's economy offers the sad reality that many homeowners are facing foreclosure, and the numbers are growing.

If you find yourself in a situation where you can't keep up with your mortgage payments, the first step to take to prevent foreclosure is to contact a HUD-approved housing counselor.

In addition, you can help your situation by using the following tips from HUD:

1. Don't hide from the problem.

The further behind your payments, the harder it will be to reinstate your loan and the more likely that you will lose your house.

2. Contact your lender as soon as you realize that you have a problem.

Lenders do not want your house. They have options to help borrowers through difficult financial times.

3. Open and respond to all mail from your lender.

The first notices you receive will offer good information about foreclosure prevention options that can help you weather financial problems. Later mail may include important notice of pending legal action. Your failure to open the mail will not be an excuse in foreclosure court.

4. Know your mortgage rights.

Find your loan documents and read them so you know what your lender may do if you can't make your payments.

Avoid foreclosure today
Stop the foreclosure process now
Learn how to keep your house
With this vital new report!
http://www.paradoxpro.com/foreclosure-hell.html

Learn about the foreclosure laws and timeframes in your state (as every state is different) by contacting the State Government Housing Office.

5. Contact a HUD-approved housing counselor.

The U.S. Department of Housing and Urban Development (HUD) funds free or very low cost housing counseling nationwide. Housing counselors can help you understand the law and your options, organize your finances and represent you in negotiations with your lender if you need this assistance. Find a HUD-approved housing counselor near you or call (800) 569-4287 or TTY (800) 877-8339.

6. Prioritize your spending.

After healthcare, keeping your house should be your first priority. Review your finances and see where you can cut spending in order to make your mortgage payment. Look for optional expenses-cable TV, memberships, entertainment-that you can eliminate. Delay payments on credit cards and other "unsecured" debt until you have paid your mortgage.

7. Use your assets.

Do you have assets-a second car, jewelry, a whole life insurance policy-that you can sell for cash to help reinstate your loan? Can anyone in your household get an extra job to bring in additional income? Even if these efforts don't significantly increase your available cash or your income, they demonstrate to your lender that you are willing to make sacrifices to keep your home.

8. Be leery of foreclosure prevention companies.

You don't need to pay fees for foreclosure prevention help--use that money to pay the mortgage instead. Many for-profit companies will contact you promising to negotiate with your lender. While these may be legitimate businesses, they will charge you a hefty fee (often two or three month's mortgage payment) for information and services your lender or a HUD approved housing counselor will provide free if you contact them.

9. Don't lose your house to foreclosure recovery scams!

If any firm claims they can stop your foreclosure immediately if you sign a document appointing them to act on your behalf, you may well be signing over the title to your property and becoming a renter in your own home! Never sign a legal document without reading and understanding all the terms and getting professional advice from an attorney, a trusted real estate professional, or a HUD approved housing counselor.



You'll find other great articles on mortgages and foreclosures here:

Avoid foreclosure hell

Three simple words that can stop a foreclosure

How will the current home mortgage crisis affect you?

Home equity line of credit loans

Home mortgage loan options

Avoid foreclosure today
Stop the foreclosure process
Learn how to keep your house
With this vital new report!

******

Planning to sell your home? You could make $10,000, $20,000 or more from the sale of your home if you sell it yourself!

Planning to sell your home by owner? The You Can Sell Your House kit provides the information and forms you need. You could easily make $10,000, $20,000 or more from the sale of your home if you sell it yourself!

Use the Mortgage Loan Amortization Schedule to calculate your monthly loan payments.


Home Buying & Selling

Home Decor and Improvement

Mortgages and Insurance

Lawn and Garden

Hobbies and Investments

Organizing, Cleaning

.....Paradox Productions, Inc. • P. O. Box 814 • Eureka, MO • email us