In the midst of a troublesome foreclosure proceeding? Do you face plenty of complications up ahead to save your home? Well, do not worry too much as you are not alone in this battle to salvage your home from your creditors! Thousands across the country are in the same predicament as the recent recession has left many reeling in the after-effects, especially financially! While you look for solutions to put an end to foreclosure proceedings, there are some simple mistakes that homeowners normally commit that makes it harder to stop home foreclosure. Let us look at four top mistakes that homeowners commit as per listed below:
1) Moving out of your home - this is a common mistake that is committed by many during foreclosure proceedings. Whatever happens, never move out of your home during this period of time! If you do move out, you would not be able to enjoy normal homeowner benefits such as the one-time FHA mortgage insurance reimbursement that you are eligible for if you are facing mortgage foreclosure. So never commit the mistake of moving out of your home no matter what!
2) Not keeping a record on home mortgage payments, and not making your home mortgage payment your first priority - these are similarly common mistakes that are bug house-owners of today. You should always keep a full record of your mortgage payments to check on the balance and how much you have paid. And if you are facing problems to service your mortgage payments, it is a bigger mistake to not make it your first priority above every other payment. Before it is too late, make sure that the payment for your home goes right to the top of your things to pay for list every month!
3) Another mistake is securing the services of illegal or illegitimate debt relief or debt consolidation agencies to help you combat foreclosure problems. This could prove to be utterly disastrous, as these agencies would not only fail to help you, they would also take away all the remaining cash that you have with you as payment for their services. In the end, you would be left with almost nothing. This mistake would materialize if you do not do a background research check on the company that you are dealing with, so do be careful, and do not fall into this mess!
4) Last but not least, offering inaccurate or incomplete information to your creditors or while you apply for refinancing facilities is also a common mistake committed by many house-owners today. This could be particularly damaging as your credibility is taken to task, and you would most probably lose the ability to negotiate for a amicable settlement.
Stop foreclosure now by avoiding all the above-mentioned mistakes, and live happily ever after with your family in your very own home!
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