Foreclosures

Unfortunately I am hearing from homeowners who are facing foreclosure who have either financed their home with creative financing, have a mortgage with an interest rate that has adjusted significantly, or took out a second mortgage and now can’t make the payments. However, there is help. First, homeowners should contact their lender and let them know of their situation. Believe me, lenders do not want to foreclose. They just want their money. So try to work out an acceptable solution with them. If that doesn’t work, try contacting the Homeownership Preservation Foundation at 888-995-HOPE or visit their website at www.hopenow.com. Their phones are manned 24/7. The sole purpose of this non-profit counseling organization is to help homeowners avoid foreclosure.