People all across the United States are asking themselves “How do I stop foreclosure on my home?” these days. Foreclosure rates have only just begun to decline, and many families are still living with the threat of losing their homes hanging over their heads. The following information will off some insight to methods to delay or prevent foreclosure altogether.

Phoenix, AZ -- (ReleaseWire) -- 10/23/2012 --What is one to do when faced with the possibility of foreclosure? This is a scary, stressful position to be in, and most folks don’t know how to get out of it and still keep their residences. However, there are several answers to the query “How can you stop foreclosure on your house?” and here are just a few of them.

The first thing to do when trying to prevent foreclosure proceedings is to stop the filing of a Notice of Default, which is the document lenders will send to a homeowner prior to starting foreclosure procedures. Do not ignore the letters and phone messages a lender has sent or made; the minute it becomes difficult or impossible to make the mortgage payment, contact the lien holder to work something out. Often, lenders will renegotiate the terms of a mortgage, lowering the interest rate on it or stretching out the repayment schedule.

Send Request to Stop Struggling With Your Mortgage

Sometimes, they’ll forgive the past due amount if it can be proven that one will not further default; however, this rarely happens. Other answers to how to avoid foreclosure on your home are to sell it, go with a short sale, or deed the house back to the lender. However, applying for a mortgage modification is a better option.

Here is how to save your home from foreclosure with mortgage modification. The Department of Housing and Urban Development (HUD) offers several options for mortgage loan modification. One of them is the Home Affordable Modification Program, or HAMP; it is part of the Obama administration’s strategy to help homeowners avoid foreclosure and remain in their homes. This program lowers a homeowner’s monthly mortgage payment to 31% of his pre-tax monthly income, making it easier to afford it. There is also a second mortgage modification (2MP) for those who have already had their first mortgage modified by HAMP and require more help with the second mortgage on the same property. If an individual has suddenly become unemployed and cannot afford his mortgage payments, he may qualify for UP, which reduces or suspends payments for at least 12 months. Any of these choices will help prevent foreclosure.

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