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September 03, 2007

How to Stop Foreclosure!

While there are several options available to help you stop foreclosure, the first thing you'll need to do is stop avoiding the process. When people fall behind on their mortgage payments, more often than not they quickly turn to avoidance. After all, foreclosure affects people on an emotional level. They get scared and their thoughts run wild. Before long the fear immobilizes them, making it nearly impossible to think clearly, let alone become proactive.

The first step in stopping the foreclosure process is to contact your lender. If you are able to pay your mortgage up-to-date, the lender may simply reinstate your loan. Chances are good you will be charged late fees on past due payments and receive negative reporting on your credit history.

Real Estate Investing article on "How to Stop Foreclosure!"