The foreclosure rates across the United States are currently staggering. More families like ours, are facing the possibility of losing their home, than at any other time in history. Many people are under the impression they must just let go of their home, and all of the equity they have built over a period of years, due to their financial situation. The truth is, there are companies out there that specialize in assisting homeowners prevent the foreclosure process, and make it possible to save their house.

The key to keeping your home when you are in a foreclosure situation, is to determine whether or not you can maintain the payments moving forward. For instance, if you had a temporary loss of income, that made you fall behind for months on your mortgage; but you have now replaced that income, and can begin making your payments again. This is an ideal scenario for utilizing the services of a foreclosure prevention company, or loss mitigation service.

A loss mitigation service is a company who specializes in renegotiating the debt between yourself and your mortgage company or lender, and stops the foreclosure process in its track. Typically a reputable foreclosure prevention company charges between $1000.00 - 10,000.00, depending on the value of your house, the number of months you have fallen behind, and all of the work involved in your case. Many families who would otherwise lose everything, and have to start completely over, have the ability to recover their lives as well as their home.

One of the most important elements that will allow the loss mitigation company to settle your foreclosure situation, is your ability to begin making your payments as agreed. Often, the foreclosure prevention company is able to negotiate a lower monthly payment, and extend the number of payments necessary to pay off your debt. The large number of options would be discussed with you, when you have your initial, free consultation with the foreclosure prevention company of your choice.

If you're another statistic, simply waiting for the foreclosure process to end, it's time to take matters into your own hands, and find a quality loss mitigation company to assist you in saving your home.

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