Keep a clear head and gather your facts.

How are you feeling, scared, depressed, angry or embarrassed? Well you are not alone. Taking steps now can considerably increase your chances of preventing foreclosure. Even when your lender is telling you that your house is going to be repossessed. Keep a clear head and gather your facts. The home foreclosure process is not inevitable. You may not have to go to court or have your home repossessed. But you must take action now. Blind panic and anxious worry can make the most sensible among us lose the ability to see the wood for the trees. Stop, take a deep breath, and get yourself a plan.

First - Keep Going

However daunting, you must not give up. Easy to say, but it is the most important part of this plan. Call your plan 'Save My Home From Foreclosure' to keep you motivated, then start taking action. Find out what your legal rights are, for support and protection, it's never too late to find an alternative to going to court. You need to start taking action as soon as possible - and that means now! Look up and access any help and support that is available to you in your area. Research recommended guides and resources to help you make the right choices. Don't do nothing. You may have received letters from your lender that have made you feel frightened and helpless. Summon all your inner strength and focus it on preventing foreclosure.

Secondly - Add it up!

Daunting as it may be, it is down to you to get your finances in order! Now is not the time to leave bills unopened, bank statements unread. Burying your head in the sand will not save your home from foreclosure. Take a good, hard look at your financial situation and get your paperwork organised. It's a pointless exericise unless you are brutally honest with yourself. Find out exactly what you owe and who you owe it to. Make a detailed list of all your monthly income and spending, down to the last cent. Keep a book and make a record of all spending from this point on. If you have never done this before, you may be surprised by the results. Tackle the problem head-on. Make a budget within your income, and stick with it, there is no other way!


Thirdly- Seek Assistance

Now you have a clear understanding of your finances, make contact with any available government schemes. You may be eligible for assistance from them. There are a growing number of government encouraged alliances out there to help halt the home foreclosure process, and keep people in their homes. These organisations involve counselors, mortgage companies, investors, and other mortgage market participants and they are there to help you, go find them.

Finally - Face up to it!

You must speak to your lender. Being pro-active will make you feel more in control. Don't ignore any letters from them. Return all their calls, even if it makes you feel frightened. You will feel more empowered to open discussions with them, now you have all your financial information organised and accessible. If it's at all possible, most lenders are open to alternative payment suggestions. They should be sympathetic even at this late stage. They don't want the hassle of a repossession, so don't leave them with no other option. It's in everybodies interest, to work towards preventing foreclosure, and that includes you. Be honest with them, have your budget and paperwork ready beforehand, and now get going!