Ignoring a foreclosure notice or making unwise financial decisions during the foreclosure process can result in the loss of your home and the inability to be approved for another home loan or other types of credit. Improper actions may also result in bankruptcy. All of this headache and heartache can be avoided with a stop foreclosure loan.

Finding out that your home is entering foreclosure is one of the most devastating things that can happen to a homeowner. During this emotional time, it is very easy to make irrational decisions that can result in the loss of your home and a ruined credit report. Receiving a notice is not the end of the line, though; it is simply a call to action. There are a few ways that you can save your home such as the stop loan.

Once you have received a foreclosure notice from your lender, it is extremely important that you contact them to see what your stop loan options are. In most cases, lenders are more than willing to find a solution to the problem. This is not an option that they want to pursue. Your lender would much rather help you keep your home and continue to receive interest payments from you than be saddled with a property that they might not be able to resell for the amount that you owe.

Open communication with your lender is a must. Yes, it may be tempting to ignore the situation rather than face an embarrassing conversation with your lender about your financial problems, but your lender may have the exact solution that you have been looking for. The first step is to talk to them. Be open and honest about your financial situation and ask them if you would qualify for a stop foreclosure loan.

A stop foreclosure loan is a mortgage or home loan that pays off your current loan and gives you the chance to start over again. Depending on how much equity you have in your home, the payments on the new loan could be significantly less than your current mortgage payment. You might even be able to borrow against your equity to help pay off some other bills that have become difficult or impossible to pay.

The number one requirement for receiving this type of loan is the ability to pay the new mortgage and resolve your financial issues. If the lender can see that the new loan would make it possible to make your payments on time and get your finances in order, they will be more willing to issue a stop foreclosure loan than they would if it seems like you will not be able to afford the new mortgage any more than you can afford your current one. While you may not get the best interest rates with this type of loan, these could be the key to keeping your home and getting back on track financially.

More info on your stop foreclosure information search:

Get Free Foreclosure Advice and Free Refinance Quotes
Get your free on-line foreclosure refinance quote and free advice from foreclosure mitigation specialist in minutes. Compare real offers from top national subprime and hard money lenders... more...

California Law for Real Estate Investors - Including Forclosure Issues
Probate Issues One mistake that California real-estate investors make is signing a purchase contract too soon when a probate is required. Some real-estate investors try to buy properties when the deceased left real estate to family members or friends who cannot make the monthly loan payments. If ... more...

Equity Loan Mortgages May Help Homeowners Prevent Foreclosure
One of the solutions to foreclosure that we discuss much less often than others is obtaining an equity loan to pay off the arrears and reinstate the mortgage. This is because it is one of the more difficult options to qualify for, possibly more difficult than a standard foreclosure refinance. ... more...

Stop Foreclosure Loan - The Truth About What Can A Stop Foreclosure Loan Can Do For You
Stop foreclosure loan facts and fiction revealed. Irrespective of what anyone may have told you getting a stop foreclosure is fairly easily achievable. There are many lenders ready to provide you with a foreclosure loan irrespective of your credit history or even your historical mortgage loan ... more...

Foreclosure Problems? Get Help
When a person becomes late on their monthly house payment, eventually the lender will begin foreclosure proceedings which in most cases will start with a notice of default or a lis pendens recorded with the county where the property is located. There are data companies that collect this information ... more...