Be aware of how to avoid foreclosures with this presentation from ForeclosureDeals.com. If you are having difficulty paying for your home, know what to do to avoid the foreclosure process.

1. How to Avoid
Foreclosures
Contents
Introduction...…………………………...1
In the early days of the financial crisis and the spate
of foreclosures that followed, many buyers with Speak to Your Lender...……..……...2
mortgage payment problems just gave up. America
Repayment Plan..……………………….2
subsequently realized that foreclosures were
helping nobody – between them, the government Mortgage Modification……………...2
and the banks put measures into place to help avoid
Short Sale……………………………….....3
foreclosures. If you are having difficulty paying for
your home, then this is what you ought to do. Chapter 13 Bankruptcy…….…….....3

2. 2
Speak to Your Lender
Speak to your lender immediately you sense you might be
getting into difficulties, and if possible before you miss a
payment. If you wait instead until you receive a default
notice, they may be less inclined to help, because your
failure to contact them first has already cost them money.
Repayment Plan
See if you can arrange a repayment plan that works for you
and for the bank. This involves a program to catch up on
missed payments over several months, and is the ideal way to
avoid foreclosures because your credit record remains intact.
Mortgage Modification
What’s does that mean?
For more terms and definitions,
Discuss a mortgage modification with your lender. In terms
check out ForeclosureDeals.com’s
glossary page:
of this, the interest rate comes down or part of the outstanding
http://www.foreclosuredeals.com/G
lossary.php balance is forgiven. Be careful with the latter, though. If a part
of, or an entire debt is wiped clean, you will be marked down
on your credit record because money was not paid.

3. 3
Short Sale
Foreclosure Deals
12550 Biscayne Blvd, Suite 306 Speak to your bank about a short sale in terms of which
Miami, FL 33181
FAX: 1-347-402-6620 the balance on your housing loan will be forgiven. This is
Contact@foreclosuredeals.com
an attractive option too, except for the impact on your
If it’s not a deal, we won’t list it here!
credit record once again.
Find us on the Web:
http://www.ForeclosureDeals.com/
Chapter 13 Bankruptcy
If all else fails, file for Chapter 13 bankruptcy before the
bank forecloses. Rather than become another debtor in the
queue, the bank may decide to become more obliging
instead. This should not be necessary though, because the
law requires that lenders do everything they possibly can
to avoid foreclosures.