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The question you may be asking about house foreclosure is: How do
I stop foreclosure and still keep my home?

Since you are reading this, I know you are searching for
information on how to stop a foreclosure. Maybe you are feeling
a little frustrated or confused. I know when I was going
through my financial crisis a few years ago, my biggest block
was that I just didn’t know what to do! Perhaps I can now
assist you.

Let’s look at 3 options you have now to stop a foreclosure and
keep your home:

1. Refinance. You may have already gotten offers for this.
Refinancing can be a very good way to stop foreclosure and save
your home. You will need to have decent credit to qualify and
they do not take your hardship into consideration. If you
defaulted on your house payments the chance is that your credit
may already be damaged. But hey, find out. If refinancing is
right for you follow these tips: - Stay away from Adjustable
Rate Mortgages (ARM) or any exotic reverse or interest only
loans. These fancy loans are often used in a predatory manner to
lure the homeowner in. - Make sure you understand the terms and
payments and you honestly can afford them long term. It is your
responsibility to stay within your means.

2. Real Estate Investor. You may have already been approached
by an investor or two. Most investors want to buy your home,
stop foreclosure, and remove you from the property to rent or
sell it to someone else. Ask an investor if he or she would be
willing to allow you to enter a “lease to buy” agreement. While
you may lose the title to the property for a set time (and your
equity), you will be able to continue living in your home and
eventually regain ownership. If you choose to work with an
investor, follow these tips: - Do your research on the
investor. You want to be sure they are legit. - Get
everything in writing!

3. Loss Mitigation. “What is loss mitigation?” you ask. I
hear this a lot. Loss mitigation is a professional counseling service that works on behalf of you, the homeowner, to negotiate
with your lender to reinstate and/or modify your existing loan.
They take your hardship (reason you fell behind on your
payments) and your financial situation into consideration. Loss
mitigation doesn’t rely on credit nor does it take your home or
equity. I hear from many frustrated homeowners that they feel
the lender is not giving them a chance. With a reputable loss
mitigation company negotiating for you, the odds of keeping your
home rise considerably. Just follow this tip: - Make sure the
loss mitigation company you choose is reputable and has
experience.

Considering your options and taking action is half the battle.
Your house foreclosure won’t just fade away, so remember; you do
have power and can make a difference.

To Saving the American Dream One Home at a Time.

Stacey Krech (http://www.HelpMeKeepMyHome.com) is a nationally known
House Bank Foreclosure - REO Specialist and Financial Educator. She helps
homeowners impower themselves and stop foreclosure through
education, public awareness and service.