How Do You Deal With Mortgage Lenders To Prevent Foreclosure?
Foreclosure can happen when you fall behind on your monthly mortgage payments. It’s important to keep the lines of communication open between you and your lender to prevent foreclosure on your home if you are unable to make your mortgage payment. Call your mortgage lender. Inform them of the situation and why you are unable to pay right now. Some lenders allow you to make an interest-only payment for a few months to keep your account in good standing or may work with you on making partial payments for a while and readjust the length and terms of your mortgage. Create a paper trail. Keep a log of each call made to or received from your mortgage company. Write down in a notebook the date, time and name of the person you spoke to and what the call was about. Mail any necessary legal documents to your lender via certified mail. Gather all of your monthly income information, like pay stubs, and a log of your monthly expenses. If you try to renegotiate the terms of your mortgage, the lender
