You know you are facing foreclosure even before receiving the notice from the lender. Regardless of the reason, the fact remains that it is not the end of the road.

What You Can Do:

1. Get unconventional. We found a great book called “How To STOP The FORECLOSURE On YOUR PROPERTY” that will show you step-by-step instructions for Stopping Your Foreclosure. You owe it to yourself to check it out before you do anything else.

2. Gather your courage; don’t get embarrassed or depressed. You are not alone in facing foreclosure. Communicate, in writing, to the lender about your problems as soon as possible.

3. Don’t vacate the home until given notice by the court. You may lose the opportunity to qualify for assistance such as forbearance or refinance.

4. Never ignore communications from the lender or legal authorities.

5. Talk to the lending officer. Explain the truth of when and what you can commence repaying and why. These three “W’s” can convince the lender to a large extent to work with you. Sometimes, lenders will stop the foreclosure.

6. Consult housing counselors and/or foreclosure attorneys. They might be able to help you arrange a refinance or FHA insurance.

7. You can’t just focus on a short-term problem like the impending foreclosure. You will also need to concentrate on your longer-term goals like your financial resurrection. Be prepared to lose your home if foreclosure cannot be avoided.

8. Get informed about your local foreclosure law. Foreclosure laws allow long lead times for a number of options to be exercised. A pre-foreclosure sale is one of the options you can explore.

9. Get a fair appraisal done by a professional; get an idea of what you can get by selling. Hire a real estate agent, if need be.

10. Don’t show you are in a hurry to sell. If you do this, you will probably sustain a loss and be unable to pay your lender.