Easily Avoid Foreclosure In Your Sacramento Real Estate

Allowing your home and other real estate properties to get foreclosed will most likely give you sleepless nights. The word foreclosure is actually synonymous and interconnected with having nightmares for a very long period of time so better yet act now and do something to avoid undergoing such ugly predicament. There are ways to protect your property and investments before it go down the drain and it is just up to you to take the initiative of doing what is best to save your most treasured properties.

 First things first, when you feel that you are being observed by your supposed lender most specially if you are always late in paying your loan mortgage, you may consider the following things written below to save yourself from further embarrassment done by having a repossessed property.

 Face your lender courageously -- Never ever hide yourself from your lender most specially if you cannot pay your loan mortgage on time. If you received foreclosure letter from them then face it. Be courageous enough and prepare all necessary documents (Billings, receipts, title, etc.) have them photocopied and put it in a sealed envelope and have an appointment with the Loss Mitigation Department. If they ask for the receipts you may show it to them and explain your side why you cannot make up with your payment on time. It is advisable to be honest with your lender, answer their questions truthfully and don't attempt to lie. Who knows they will give leeway on your loan payment if they feel you have enough reasons why you cannot pay on time.

 Seek guidance and get counseled by the Department of Real Estate (DRE) personnel - It is best to consider going to your local DRE and seek for their assistance. As professionals, they know what to do best to avoid your home get foreclosed just like that. Listen to their advices, opinions and comments and be sure to apply it to your personal life to be able to escape the hardships of having a repossessed home. They are willing to lend their help and the good thing is it is free of charge so take advantage of it.

 Do not allow your loan account to become delinquent -- If you can avoid to have a delinquent loan mortgage account the better. Having a delinquent account could lead to a much bigger problem. First, you cannot renew your loan if you have an unpaid loan mortgage for at least three (3) consecutive months and another thing is you can be sued for not paying your loan and that could put you and your entire family to a very embarrassing situation.

 Foreclosure proceedings can be stressful and demands so much of your time so manage your finances rightfully by paying your loan mortgage on time. Do a regular check on your lifestyle as well and save enough amount intended for your loan payment. There is also an alternative way to avoid total foreclosure by doing the short sale method. Through this real estate technique, you are allowing your property to be sold below its market value and the proceeds will go to the lender as pay for your loan obligation.

 Short sale can be ideal if you would like to avoid problems caused by having a repossessed home. Short sale can also save your credit scores to go down the drain. It is a method that when use properly, will help you avoid having sleepless night caused by the foreclosure proceedings. In short, short sale is a method where you can avoid declaring total bankruptcy due to very low credit ratings. But in the end, it is still up to you if you would like to use short sale as a method in avoiding foreclosure or you will pay your loan mortgage on time. It is still your choice.

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