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Davis Foreclosure Solutions Offers Assistance to HelpHomeowners Avoid Foreclosure
Englewood, NJ – January 18, 2009 - For the tens of thousands of homeowners facing foreclosure in the coming months, this is the time totake action. Some reports estimate that nearly 70% of homeowners facingforeclosure don’t seek assistance. In order to save their homes, they musttake action. Therefore, Davis Foreclosure Solutions would like to offer thefollowing tips to help homeowners avoid foreclosure.1. Respond to All Mail from Your LenderBe sure to open and read all mail from your lender. The first notices youreceive may offer good information about foreclosure prevention options.Later mail may include important notice of pending legal action. Yourfailure to open the mail will not be an excuse in foreclosure court.2. Carefully Read Your Mortgage DocumentsFind your documents and read them so you know what your lender may doif you can't make your payments.3. Speak to a Foreclosure CounselorDon't assume that your problems will quickly correct themselves. If youdon't feel comfortable talking with your lender, you should immediatelycontact a foreclosure counselor. A counselor can help you:*Review your financial situation, determine what options are available toyou, and negotiate with your lender.*Learn which of the various workout arrangements lenders consider makesthe most sense for you and your family, based on your circumstances.*Call the lender with you or on your behalf to discuss a workout plan.4. Discover Your OptionsYou have more options available when your loan is only one or twopayments behind. The farther behind you are on your payments, the feweroptions are available. If your inability to pay your mortgage on time istemporary, there are some workout options such as reinstatement,forbearance and creating a repayment plan.If your income difficulties are long-term, then mortgage modification or apartial claim may be the solution.
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