Homeowners sometimes find themselves unable to make timely mortgage payments. This happens for a variety of reasons, including:
from the U.S. Department of Housing and Urban Development
The further behind you become, the harder it will be to reinstate your loan and the more likely that you will lose your house.
Lenders generally want to avoid foreclosure but will file a Notice of Default to protect their interests, if necessary. The best way to avoid foreclosure is to file a Notice of Default. If you project that you will be unable to make your mortgage payment, you should first call your lender.
"Foreclosure Tips/U.S. Department of Housing and Urban Development (HUD)." HUD.gov. 31 Mar 2002. U.S.Department of Housing and Urban Development. 29 April 2010. <http://portal.hud.gov/portal/page/portal/HUD/topics/avoiding_foreclosure/foreclosuretips>
If you cannot become current with your payments and your lender will not work with you, you can attempt the following options:
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