The economy is in really bad condition. Financial institutions are struggling, going bankrupt, and selling under duress. According to a number I heard the other day, the average American lost approximately 1/3 of their wealth in 2008. 2009 isn’t starting off a whole lot better. This has left many Americans trying to figure out how to stop foreclosure on their homes. Read on and click the links in the article to learn how to stop a foreclosure if you have gotten into that situation.

There are many reasons you could be trying to figure out how to stop a foreclosure. With unemployment as high as it is today, that is probably the number one reason that people are having trouble paying their bills. Even if you are still employed, you most likely are not getting any overtime or bonuses so money that has been almost automatic may no longer be available. Another reason people face foreclosure is due to illness. With the prices of health insurance going up at alarming rates, many people have less coverage than they used to or none at all. As a result, medical bills are higher when they get sick. It also seems like the cost of almost everything has went up in the last few years so the money you do have does not go as far as it used to. There are many more reasons that people are having financial problems today, but regardless of what you are facing, there is help available.

Now lets talk about how to stop foreclosure of your house. The first step is to get in touch with your lender. I know it sounds crazy that the people that may take your house away are the best ones to help you keep it. They don’t want your house. It will cost them a ton of money to take it from you and sell it. Not to mention the fact that it is probably worth less than it was a few years ago. They stand to lose a lot of money on a foreclosure so they will do a lot of things to help you out. If you are behind by a few payments, they may allow you to roll the overdue payments into future payments. They may change your interest rate which will lower your payments. Who knows, they may even forgive your late payments completely. Surprisingly, if you are up to date on your payments, they seem less eager to help you. Funny isn’t it?

If you are having problems working things out with your lender, there are a ton of other resources out there that can help you. For example, if you are a single mother, there are grants for single mothers you may be able to take advantage of. While it isn’t directly related to foreclosure, your health is something that you need to stay on top of otherwise you will make matters worse with medical bills you don’t need. If you are looking to stay healthy, check out the best ab workout I have seen in a long time and make sure you stay fit. Good luck!

Filed under: House and Home

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