If you find yourself facing foreclosure you need to know your options. There are several ways to avoid a foreclosure and save your credit score. The most important way to stop foreclosure is to take action. Too many people ignore reality and when they do wake up it is too late to stop the foreclosure. Make sure you take action today.

Call your mortgage company. The best way to stop foreclosure is to try to work something out with your mortgage company. Your mortgage company would rather not have to foreclose. Ask for the loan work out department or loss mitigation department. Tell them you want to work out a plan to save your home. They will normally suggest that you pay an extra amount on your monthly payment. For example if your normal payment is $1,000 then they might ask you pay $1,000 until you catch up.

The other option is that the mortgage company might add the debt you owe to the end of the mortgage. Let's say you owe $100,000 on the mortgage and you are behind by $3,000 dollars. The mortgage company might add the $3,000 dollars to your total balance as part of the loan. When you try to sell your home the mortgage payoff will include the $3,000 dollars.

Another method to avoid foreclosure is to sell you home to an investor. There are many websites and local investors who specialize in buying homes fast. Normally the investor will be able to pay cash and close on your home within a week or two. Make sure the investor is actually buying the home from you and not just taking over the loan.

Ask the bank if they will accept a short sale. A short sale is when the bank takes less than what is owed. For example, if you owe $100,000 dollars the bank might accept $90,000 dollars. This will allow you to sell the home fast to an investor. Usually you must have suffered a hardship in order to qualify for a short sale. Most banks will accept a short sale but you will need someone to make an offer. You can call local investors in your area or list your home with a realtor who specializes in short sales.

There are several ways to stop foreclosure but you must take action today. If you are facing foreclosure pick up the phone and call your mortgage company today.

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...

Can a Second Mortgage Declare Foreclosure Before the First?
In most cases of foreclosure, it is the first mortgage company that initiates the process. The second mortgage may file its own foreclosure in order to protect its interest in the property, but even this is somewhat uncommon. The second lender would much rather work with the homeowners to find a ... more...

Foreclosure Secrets Revealed - Six Secrets You Absolutely Must Know About Foreclosures
Legal Disclaimer: Author is a licensed real estate agent and is not an attorney. This information is not intended as any form of legal advice. You should always seek the advice of competent licensed professionals. I have talked with or helped hundreds of families who have gone through foreclosure ... more...

Foreclosure Is Never Eminent
Foreclosure is legal action taken by a mortgage note holder against a mortgagor who defaulted on their note. If a home owner is unable to make the monthly mortgage payment as agreed, the bank or mortgagee has the right to file a petition for foreclosure at the county court having jurisdiction. The ... more...

Stop Foreclosure With Five Important Steps
Americans are facing financial hardships at record paces and preventing their home from going into foreclosure has never been harder. The most obvious problem they face is how to stop foreclosure, but they must also address their tarnished credit, a contracting mortgage market, their adjustable ... more...