News and Events
February 13, 2008
Need Help Avoiding Foreclosure?
(ARA) - Are you having
trouble keeping up with your mortgage payments? Have you received a notice from
your lender asking you to contact them? If so, you may be in danger of losing your home to foreclosure, something you want
to avoid at all costs.
Foreclosure has all kinds of negative repercussions. Not only do you have the
emotional upheaval caused by losing your home, but the stress of having to find
another place to live, and then you have to deal with the harsh reality of the
financial implications.
These include the possibility of losing the appreciated value of your home and
the equity you have in it; the destruction of your credit report; and the risk
of jeopardizing future employment opportunities as many employers now run
credit reports on potential employees before hiring. But the good news is there
are steps you can take to keep this from happening.
Among the options you have…
* Converting adjustable-rate loans to low, fixed rate loans;
* Getting a 10-year loan extension, which allows you to bring the monthly
payment down;
* Obtaining a permanent interest rate reduction to lower payments.
How do you know which option will work best for you and how to implement it? By
turning to a pre-foreclosure advisor for help. If you don't feel comfortable
talking to your lender, log on to www.ehomeassure.com
and make an appointment with an independent counselor who will review your
financial situation to determine which options are available to you.
Remember, time is of the essence. The sooner you get to work, the more options
you'll have available to you.
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