From the Dec 30th Richmond Times Dispatch. Housing 101 a helpful class – News – inRich.com
From the related information file:
Worried about foreclosure? Don’t ignore the problem.
The further behind you get, the harder it will be to reinstate your loan and the more likely that you will lose your house.
Contact your lender as soon as you realize you may be in trouble. Lenders have options to help borrowers through difficult times.
Open your mail. The first notices you get from your lender will offer good information about foreclosure prevention options.
Later mail may include information about pending legal action.
Failure to open the mail will not be an excuse in foreclosure court.
Know your mortgage rights.
Find your loan documents and read them so you know what your lender may do if you can’t make payments. Learn about the foreclosure laws in your state. Understand foreclosure-prevention options.
If you decide to sell your house as your solution to falling behind on payments, Get offers from us in 24 hours.
