If you should find yourself faced with your lender foreclosing on your home then it is time to take action. Certainly when it comes to foreclosure a lot of people will deny it is happening to them rather than face the situation and instead will bury their head in the sand and hope it goes away. However if you have been served notice that your home is about to be foreclosed you will need to stop foreclosure quick and in this article we look at what you need to do.

The first thing you should do is contact your mortgage company. It may sound daft but to be honest today most mortgage companies do not want to foreclose on a property. The reason being it is going to cost them money. Normally if a property is sold at auction there is actually little chance that someone will actually buy it and then they will need to arrange to sell it on the open market. Unfortunately having such properties on the books is not good for the banks and so they will try to avoid having these on there at all costs.

As soon as you have made contact with your mortgage lender ask to speak to someone in their Loan Mitigation Department. These are the people who will help to negotiate a solution to the problem that you are facing with regards to making your payments on your mortgage. The first thing you should be asking them is whether there is any way that the payment date can be changed or work out a way of paying the amount that you owe to them.

In most cases you will find that your mortgage lender will ask for a short financial statement along with reasons as to why your payments are now behind. If you discover that they are unwilling to restructure the payments then ask about a short sale instead.

A short sale is a method by which the bank is allowed to sell your home for less than what is owed upon it. But in order to achieve this you will need to find someone who is willing to buy the property from you.

Another way to stop foreclosure quick on a home is for you to sell it. There are many sites on the internet today that can provide various ways for you to sell your home fast. These sites will have a list of investors who they will provide details of your home to and are interested in purchasing the property quickly. Normally these investors will buy a property for cash and then sell it on quickly. Such sites are normally free to those trying to sell their homes quickly and is a great way of ensuring that your property details are sent out investors very quickly.

More info on your stop foreclosure information search:

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