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Tips in facing Foreclosure
April 28th, 2009 7:52 AM by Sam Kader MLO130505
Talk to your lender upon detecting the problem.
Open your mail. Lenders are required to provide legal notification of foreclosure.
Prepare a household budget and prioritize your spending.
Attend a mortgage intervention seminar to understand your options.
Avoid foreclosure-rescue schemes. You do not need to pay to get help preventing foreclosure.
If you need to sell your house for less that you owe the bank, work with an experienced real-estate agent and be prepared to wait. These sales, known as short sales require proper documentation and often take at least three months to be approved.
Check for free foreclosure counseling at
www.homeownership.wa.gov
.
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Posted by Sam Kader MLO130505 on April 28th, 2009 7:52 AM
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