How To Avoid Foreclosure

American homeowners are facing foreclosure in record numbers. If you're one of them, you may be able to hang on to your home if you're willing to pursue one of these solutions.

Step 1:
Work It Out
If you've missed mortgage payments, get in touch with your lender right away and negotiate.
Step 2:
Talk To The Judge
A foreclosure is essentially a lawsuit filed against you.
Step 3:
Refinance
You may be able refinance your loan and get out of foreclosure. Your chances are good if you have 20 to 35 percent equity in your house, a credit score over 550 and you're not more than three months late on payments.
Step 4:
Government Help
The Veteran's Administration,Federal Housing Administration and the Department of Housing and Urban Development all have programs to help homeowners in trouble.