Foreclosure

Following an over energetic lending market, and rising interest rates, foreclosures are a reality for many homeowners.

If you are concerned that your mortgage payments are becoming a real struggle, you need to assess your situation realistically by assessing:

• Which financial institution currently holds the mortgage to your home - this may not be the company that gave you the loan
• Know the terms of your loan - specifically, if your have an adjustable rate mortgage [ARM], when the interest rate will likely increase and the amount you will need to pay in future months
• You ability to pay your current mortgage payments
• Your ability to continue paying your monthly mortgage payments
• If you are behind on your mortgage payments, if so, how far behind
• Have you received and responded to notices sent by your lender

In this section we look at steps to prevent foreclosure and what to do if you are facing foreclosure of you home mortgage.

• Defining Foreclosure
• Types of Foreclosure
• The Foreclosure Process
• The Foreclosure Auction
• Mortgagor Obligations During Foreclosure
• Preventing Foreclosure
• Investing in Foreclosure Properties
• Obamas Foreclosure Prevention Program **NEW**

Next: Types of Foreclosure

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Foreclosure Index | Types of Foreclosure | Foreclosure Process | Foreclosure Auction | Mortgagor Obligations | Preventing Foreclosure | Investing in Foreclosures