Foreclosures General Information

If you have bought a home using a home loan, your lender will have taken a security interest in the property. If you find that you cannot keep up with mortgage repayments on your home, the security interest gives the lender the right to proceed with a foreclosure. This can involve auctioning off your house and using the proceeds to recover their investment.

If your property is not sold or the purchase is not enough to cover the lender's loan, a deficiency judgment could be pursued against you. A foreclosure and a deficiency judgment will seriously hinder your prospects to obtain real estate in the future. A foreclosure is a worrisome prospect for anyone, but there are options you can pursue in order to avoid it.

The first thing you need to do is to decide whether it will actually help your financial problems to allow the foreclosure to happen. If your problems are of a temporary nature, such as a sudden job loss, then it may be only a matter of time before you are again financially viable. On the other hand, your debt problems may be so great that foreclosure would be the best way to erase them.

Regardless of your situation, there are several ways of avoiding foreclosure and dealing with it when you already received the foreclosure notice. I have designed a successful system to assist individuals in avoiding the foreclosure process while guiding them to the path where they will start to regain their financial freedom and security.