Foreclosure Filings Not Going Down: How To Avoid Foreclosures

In the first half of 2011, it appeared that foreclosure filings were down 29% compared to the same time last year. Unfortunately, according to a national real estate firm, foreclosures are not actually on the decline. Instead, the decline was seen due to massive paperwork delays. Some foreclosures may be delayed until 2012.

A foreclosure happens over time. If you fear you may be headed down that path, take action now to do what you can to prevent foreclosure on your home.

Don’t Ignore It

Foreclosures have unfortunately become common in and ignoring it will not prevent your home from becoming a part of the statistics.

Contact Your Lender

If you think you will miss one or more payments, contact your lender to see what options you have until you are able to make the full payments again.

Reevaluate Your Budget

Make sure your budget is up to date with your current income situation. Do whatever you can do to make those home loan payments.

Review Original Documents

Take a look at the documents from your original loan to make sure you know what the lender can do if you miss payments.

Contact A Foreclosure Attorney

Foreclosure laws differ from state to state and can be difficult to navigate. If you think your home may be foreclosed and you’ve done all you can, contact our Gainesville, Georgia bankruptcy attorneys at Coleman & Chambers to see if declaring bankruptcy could protect you from foreclosure and save your home.