by Brian Burke
on Monday, November 30th, -0001 at 12:00am.
Foreclosure is one of the worst dangers Denver homeowners can face. If you are missing mortgage payments, it is possible to avoid foreclosure with careful planning and negotiation. Here are some tips to help you keep your home:
Don’t Ignore Your Lender If you’re behind on payments, be sure to keep in touch with your lender. Though it may be stressful to confront the problem, ignoring it will only make it worse. Be sure to read all communications from your lender, and contact them when you realize there’s a problem. Sometimes, lenders will have options to help you if you are unable to make payments.
Understand Your Rights Revisit the fine print of your mortgage agreement. Understand when and how your lender can take action if you are behind on payments.
Reevaluate Your Budget Examine your spending and cut out unnecessary expenses, like cable TV and other entertainment. The Department of Housing and Urban Development (HUD) recommends that you prioritize mortgage debt over “unsecured” debt like credit cards.
Use Trusted Resources Some companies offer help negotiating with your lender to prevent foreclosure, but these services, while sometimes legitimate, can be costly. There are many HUD-approved foreclosure prevention counselors in Colorado that will help you avoid foreclosure for free or at a low cost.
If you are interested in Seeing if we can sell your home before a Foreclosure Please call us now 303-955-4220
View homes with current updated information including Foreclosures on your Phone or IPad
Brian Burke | Broker | ePRO | Expert | 303.955.4220 Office | 303.710.2609 Direct | Brian@kennarealestate.com