The sheriff moved all of their belongings to the street. Robert and Wendy Brown (names are changed to protect a friendship) knew it was going to happen.They merely waited for it to become a reality. Foreclosures are an equal opportunity occurrence; it doesn’t just happen in middle and lower middle class neighborhoods.

This didn’t have to happen to them. The Browns could have avoided a lot of the pain they were suffering by taking action BEFORE the foreclosure started, or as the process began to escalate. Not everyone can save their home, but there ARE options open to homeowners facing foreclosure.

Foreclosure is an awful experience for a homeowner, and people deal with it in different ways. Some turn over the keys without argument. Others do everything they can to refinance or lawyer up, and try to fight it. Some stay in their homes until the very last minute without doing anything at all, while others facing foreclosure hire high-priced consultants who charge anywhere from hundreds to a few thousand dollars.

We read and hear news accounts of this scenario happening every day. Lives are torn apart and their futures look grim.

The foreclosure options which the Browns failed to realize, are outlined clearly and simply in the Foreclosure eGuide at:

http://www.theforeclosureassistant.net

Following the steps in this eGuide, the Browns may have saved their home and at the very least, been able to resolve their foreclosure with significantly less damage.

The first tried and true approach is to deal with the lender up front. A common misconception among people going through foreclosure is that their lender wants to take their home. This is attributed to the adversarial debt collection practices on the part of the lender and failure to communicate on the part of the borrower. We’ve all seen the commercial where the phone rings during dinner and no one answers it because it was the bank… again.

Lenders don’t want your house. If your house forecloses, it means the bank will own a house which they are not collecting a mortgage payment on. Your house then becomes a non-performing asset for the lender.

Lenders are not in the house repair, marketing, and sales business. Foreclosed houses often need repairs. They must also be marketed and sold by a real estate agent. All of this costs the lender several thousand dollars. Of course, there are legal fees associated with a foreclosure, and the lender ends up paying them too. Most of the time, foreclosed houses sit on the market, vacant for several months and the property value in the neighborhood begins to lower.

As you can see, it’s in your lenders best interest to work with you to solve your foreclosure problem. But if you’re not communicating with them, it’s going to be difficult for them to see it that way.

For this reason it’s best to commit to maintaining close contact with your lender for the next few months. Whether you can keep your house or not, the better you communicate with your lender, the better off you and your credit rating will be in the long run.

There are more options and solutions to foreclosure. For further information visit http://www.theforeclosureassistant.net

Don’t let Robert and Wendy’s story become yours.

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