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If you are facing foreclosure, all hope is not lost. There are ways to stop foreclosure immediately and you may have more power than you think. If you have fallen behind on mortgage payments and think you are – or know you are facing foreclosure due to a notice from your lender. Take action now.

It is actually more expensive for a lender to foreclose on a home than it is to work with a distressed borrower. The moment you realize you will have trouble making an on-time payment, contact your loan officer and explain your situation. You’ll be amazed at the willingness of many mortgage lenders to offer extensions and foreclosure alternatives to borrowers who make an honest and sincere effort to communicate and cooperate with a lending institution.

Explore your refinancing opportunities. Despite a sluggish economy, there are still many lenders out there who are willing to refinance home loans. Depending on your credit rating, home equity and ability to repay, you may find the right lender to offer a creative loan package that could actually lower your payments or allow you to miss a payment in the refinance process. If you think you may be in trouble, seek a refinance opportunity before late payments drag your credit rating down.

A qualified representative can work with your bank to negotiate a settlement. In many cases, mortgage lenders will accept less than is actually owed on a home to avoid the expensive process of foreclosure. In the end, a short sale could have less negative impact on your credit rating than a foreclosure.

By the way, by researching and comparing the best stop foreclosures services in the market, you will be able to determine the one that meet your specific financial situation, plus the cheaper and quicker options. However, it is advisable going with a trusted and reputable stop foreclosure specialist before making any decision, this way you will save time through specialized advise coming from a seasoned advisor and money by getting better results in a shorter span of time.

Hector Milla runs the Stop Foreclosure Loans Help website, where you can get immediate assistance from professionals serving your state. We have done all the hard work for you and selected the best 3 rated stop foreclosure services.

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