Attention homeowners: your lender can help you avoid foreclosure
According to a Freddie Mac study, 57% of homeowners are unaware of the workout options that could help them avoid foreclosure. And this is an improvement, up from 61% in 2005. Will the lender actually work something out? It's worth a try, and lenders do know that allowing a house to go into foreclosure is bad for everyone, lenders included.
[via Consumerist]
Edit: Phuong Cat Lee from Consumer Smarts linked to a number of helpful resources for consumers looking to get help from their lenders.
Definitely worth a try. And a good option is to go with a professional and reputable debt negotiation company. But be very picky! Make sure the company you choose has a good ranking with the Better Business Bureau, as there are lots of scams out there.
Posted by: Bob from Debt Help Review | Monday, May 12, 2008 at 04:48 AM
Definately worth a try. Most lenders are taking huge losses at this point so trying to keep homeowners in the house is a win-win
Posted by: Foreclosure Questions | Tuesday, June 03, 2008 at 05:04 PM