How do I stop foreclosure is a question that is becoming more and more common among homeowners with large house notes. Homeowners with adjustable rate mortgages are the hardest ones hit in the latest round of interest rate increases.

Did you know the most common reason for losing your home is failure to respond to a foreclosure notice! You may be embarrassed or you don't understand what a home foreclosure is all about, but as a homeowner you can stop home foreclosure before it starts.

I am not going to lie to you, it is going to take some work on your part to stop the foreclosure process. In addition you will need to work quickly at first. Now let's look at some steps to get you on the road to saving your home from foreclosure and your credit from financial ruin.

Step 1 - Whatever you do, don't panic. You must remember the bank only makes money if you keep your mortgage. They don't want you to loose your home or your mortgage. Also, the banks make money by lending and not by selling real estate. They don't want to have to deal with the burden of maintaining a home, paying taxes on it until it is sold.

Step 2 - You will need to find all your documents for you mortgage and review them very carefully. Many times you will find the lender has not complied with some provisions written in these documents. This simple thing could help you stop the foreclosure and provide you with the leverage to negotiate with your bank.

Step 3 - Are you or someone one the title a member of the armed forces? If so, you may be entitled to stop the foreclosure entirely. Under the Soldiers and Sailor's Civil Relief Act, lenders may be stopped from foreclosing on a home owned by an active member of the armed forces. There are some exceptions, but this is a powerful weapon to use if it applies to you

Step 4 - You should have an accurate budget written down on paper before talking to your lender. If you keep track of your expenses with some financial software this should be a very easy task. The goal here is to show you have cut out all non-essential expenses. Most companies don't even suggest this, but it gives credibility in your negotiations with your lender. If you can prove to them you have taken the first step towards paying them back it will make working out a repayment plan much easier.

Step 5 - Setup a meeting with your lender to discuss your situation. This is probably the most important step in the process of "how do I stop foreclosure". If you do this step correctly you will not only save your house, but you will save your credit also. Do it wrong and you will be down the road to financial ruin. To help you with the complete negotiation process you use a professional that has experience and contacts in the banking industry. I have researched the industry for several months and found the professionals at http://www.Foreclosure-Free.com to be very honest.

Remember, foreclosure is very stressful. Don't try to tackle the problem alone. Get a professional that knows the ins and outs of the negotiation process to relieve you of this burden.

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