Being in a deep financial problem can be a very heart breaking experience. This is so because there is a possibility that you would lose all your assets and even all you have worked for within a short period. However, it is possible to stop foreclosure on your home. You may think that when you are lagging behind on your mortgage payment, the only available solution is to let go of your home. Though it may be a solution but that is not the only option available to you. The best way to stop a foreclosure is to seek help early and not wait until things get bad before you seeking for ways to stop a foreclosure. If you are facing a foreclosure or you have the feeling that you may soon be facing a foreclosure, below are some things to do to stop it NOW.
One of the ways to avoid facing a foreclosure is to request for a mortgage modification. You can do this by asking your buyer for a change in terms of your loan agreement. By doing this, you can meet your payment deadline because your monthly mortgage payments will be reduced to an amount that you can afford monthly. However, it is important to know that you can only be entitled to a mortgage modification if you are facing a hard financial situation and if your monthly income is less than it was before your loan payment date expired.