Avoid Foreclosure; Talk To Your Lender
Nearly 300,000 Americans lost their homes through foreclosure last year. And that is not the disturbing fact — Nearly half of these people never tried to even talk to their lenders! Delawareonline.com reports:
People in financial jeopardy often are embarrassed to talk about their problems. They don’t think their lender will help them, and some are even afraid the lender will use any information against them to foreclose faster. "There is a huge myth out there that financial institutions want to take the property back, that that is their real intention," says Marietta Rodriguez, interim director of the NeighborWorks Center for Foreclosure Solutions. In fact, foreclosing on a home and then reselling it costs a lender almost $59,000 on average, according to Freddie Mac.
Read more: Talk to lender to forestall foreclosure