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Do you have foreclosure questions? You are probably not alone. According to Realty Trac, some 3.6 million homes have been foreclosed upon since the recession began. And the number of people losing their homes in 2012 promises to be high, affecting homeowners at all income levels.
It’s critical when you’re struggling to pay your home loan that you face facts, be realistic about your options, and decide on your best course of action as soon as possible. Your options will become fewer the longer you wait.
Here are some common foreclosure questions you may be asking yourself. Each of these topics will take you to a page where you can get more information.
The fear of losing your home is one of the most stressful events you can experience. There is no sugar coating it.
Many homeowners have complained that they are doing everything they can to try to catch up or modify their loans, but their paperwork keeps getting lost, they get a different story every time they talk to someone, or the lender refuses to work with them. This is not an easy process.
But talking with a professional who understands what you are going through and can explain your options may at least help you realize you are not alone and may offer some solutions you hadn't thought about. If you are worried that you are not going to be able to pay your mortgage, or if you've already fallen behind, get advice from a housing counselor or talk with a foreclosure defense attorney as soon as possible.