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Foreclosure Help

Jul 19, 2008
Although the process of foreclosure is different in every state, there are some basic steps that all states have in common. Before you can stop the precess of foreclosure you need to learn everything you can about the process. What you don't know can hurt you. The more you understand the better you will be armed to deal with your challenge.

If you don't pay your mortgage on the due date, most mortgage companies will give you a grace period of about 15 days.

The mortgage lender will begin calling you around the 15th or 16 day past your due date.You will also have to pay a late fee. Your late fee is based on the original size of your mortgage.

From days 45 though 60 the following will occur: , you will receive an increase in contact from the lender, you will get a demand letter and you will be notified of how much you must pay to cure your arrears.

You will receive by regular mail as well as, Certified Mail your default notice. It will contain the late fees and collection costs. You can expect an increase in phone calls from the lender. Keep in mind they can't threaten or harass you.

No later than 90 days the courthouse is notified by a local attorney. The attorney will also have a notice run in the the local newspaper.

Although this process sounds very final there are still things you can do to stop the foreclosure process along the way. There are ways to stop the foreclosure process without it costing you excessive legal fees. Don't try to wish it away. Now that you have a better idea of the foreclosure process learn how the foreclosure process can be stopped.

Did you know that most people in danger of foreclosure do nothing to learn the methods that could stop the foreclosure process quickly?
About the Author
To get advice and resources, including informatiabout about foreclosure plans, negotiating and how to halt the foreclosure process
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