Sometimes there are many signs that you may be in trouble with your mortgage.  Below, I have listed some of the early warning signs of foreclosure ---

***   Credit card debt out of control (maxed out cards)  - paying the minimum amount due.

***   Paying for necessities with credit cards (groceries, utilities, etc)

***   Cannot meet monthly financial obligations (choosing which bills to pay)

***   Borrowing from friends & family

***   Loss of employment, or reduction in hours or wages

***   Major illness which can cause loss of work and an increase in health expenses

***   Divorce, separation or other traumatic family or personal situations

***   Death of a spouse or significant other

***   Cannot pay the new Adjusted Payment on the ARM mortgage loan

***   Major unbudgeted maintenance expense

***   Excessive debt is the number one cause of financial collapse and foreclosure

So what happens if you begin to see some of the signs above?  Below are some strategies to avoid foreclosure:

*   Be proactive about the problem when the first warning signs appear.

*   Contact your lender when you become aware that you have a problem.

*   Read the mail.

*   Contact a HUD approved housing counselor for advice.  Call 800-569-4287 or go to www.hud.gov

*   Prioritize your spending by paying for the necessities of life first.  Always pay house payment & health insurance first.

*   Look for ways to generate cash.  It can help provide evidence to the lender that you are proactively looking for a way to remedy a bad situation.

*   Don't get scammed by private "foreclosure prevention specialists", instead go to www.hud.gov for valid information on foreclosure prevention.

*   Make an appointment with a REALTOR to discuss the problem and get their advice.

Contact me today if there is anything I can do for you or any questions I can answer!