For a family that has never experienced it before, foreclosure can be a bewildering and confusing experience, not to mention the massive amounts of stress it can generate in people who are in danger of losing their homes. Unfortunately, homeowners in desperate situations often turn to various sources of advice that may provide somewhat varying qualities of information. While much conventional wisdom regarding foreclosure is just plain wrong, some foreclosure scam artists will actively give out misinformation in an attempt to trap homeowners or increase their fear. With such a large amount of information on how to stop foreclosure available to homeowners, it is important that they do the very best job they can at gaining relevant resources and foreclosure advice.

The first thing that homeowners need to be aware of is the basics of how foreclosure works, what the process will look like, what defenses and how much time they have under state foreclosure law, and what they can do to save their homes. Having a good understanding of various terms and definitions is one place to start, as many foreclosure specialists use these terms under the assumption that homeowners know what they are talking about, which is rarely the case. But knowing this basic foreclosure information will allow foreclosure victims to learn how the foreclosure process works and if there are any circumstances that will allow them more time or additional options due to state law. However, homeowners need to go beyond just gathering loads of data and lists of options to prevent foreclosure, and put this information into the context of a plan that fits their current situation.

Homeowners who are serious about saving their homes need to seek out as much relevant foreclosure advice as is reasonable. While they do not have to examine every known case of foreclosure and how it can be stopped, it is important to learn how various methods to avoid foreclosure work in real life -- not just on paper. Foreclosure specialists, third party companies, loss mitigators, and real estate professionals are all possible sources of information, and can provide helpful case studies and success stories so that homeowners can work on creative ideas. It is one thing to know of an option to save a home, such as loan modifications or short sales, and it is entirely different for foreclosure victims to determine if that option will work in their specific situation. This distinction is necessary for every solution that is examined; knowing that giving a deed in lieu of foreclosure is one possibility does not mean that the homeowners' particular lender will even accept one.

The point of putting this advice into perspective is one of the most important lessons homeowners can learn. Taking advice blindly is just as good as not taking any advice at all and just trusting in a potential foreclosure scam. In fact, foreclosure victims should consider any option to prevent foreclosure as suspect until they have independently verified its accuracy and relevance to their specific situation and goals. While one foreclosure expert will inform the homeowners that that company's plan is the best way to avoid foreclosure, another expert will discount that option while recommending his own company's plan. Homeowners will rightly feel lost while seeking assistance, but researching each way to save their home will ensure they feel much more confident and can cut through the sales pitch to determine which solutions will help them and which will not.

Few homeowners and even fewer foreclosure specialists every truly understand everything there is to know about the process. However, learning how to save one's home is much easier than studying to become a doctor, oil field engineer, or astronaut, and homeowners can gain the relevant foreclosure information that they need to determine which solutions will be most relevant to their situation. Gaining advice from specialists in the industry, banks, and fellow foreclosure victims will also help homeowners defend against being taken advantage of. There are endless sources of foreclosure help companies, websites, articles, and reference materials that homeowners can consult to put together a comprehensive plan to prevent the worst of the foreclosure process. In addition, there are just as many resources that homeowners can use to repair their personal financial situation and improve their credit after the danger of losing the home is over, regardless of the results of the process and their success in saving the home.

Being able to find a solution on one's own is not as easy as trusting blindly in a foreclosure help company, but homeowners who take the time to do research will often find that they have worked out an effective, long-term solution to save their homes, rather than a band-aid solution or being taken advantage of by a foreclosure scam. Learning about foreclosure is the method that homeowners can follow to have as many options to save their homes as possible, while avoiding trusting in only one option that may fall through at the last minute.

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