Part of the nBuy Life Event Network

Our home planning centers: 

----- quick mortgage management summary -----

avoiding foreclosure

what is needed

If you repeatedly fail to make your mortgage payment on time, your lender has the right under the mortgage contract to enter foreclosure proceedings.

Foreclosure proceedings can vary by state and type of home (FHA, VA, etc.). A foreclosure on your property can result in your eviction from your property and the sale of your home to recover the lender's cost.

You will want to avoid foreclosure proceedings

Always make your minimum payment on time at the amount required. Foreclosure proceedings can force you out of your home and damage your credit rating.

Unfortunately, circumstances may force you into foreclosure — loss of job, loss of income, divorce, death, injury, etc. If you face any of these situations where you are unable to make timely payments, please note two important points:

More Information

  • managing your mortgage to avoid foreclosure
    additonal information about avoiding foreclosure

  • loan modification program
    step-by-step guide whereby a loan payment plan is altered due to hardship of the borrower. This can include a reduction to the rate, term of the loan and monthly payment amounts. Get the facts.

    (link opens a new window)
----- end of mortgage management summary -----