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I am falling behaind and I need help!

Do lenders offer assistance for home owners that are falling into foreclosure? I am 92 days late and trying to figure out my options so I do not lose my house! I started back to work, 2 weeks now and my income dropped, $22/hr. my condo is worth $388k, but has not been appraised in a while. No foreclosure letter just yet. I read CA residents have a long time, 6 months depends on the lender. thanks to anyone who can offer assistance. by hermes416 from Victorville, California. Apr 1st 2019 Reply

William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

The short answer is that lenders are required to work with you in regards to foreclosure prevention.. But this starts with YOU being proactive.. you need to pick up the phone and contact your lender and let them know what's going on and start answering their questions.. If you can still afford the payments, then they will help you get current.. however, if because of your job changes, you can no longer afford the home.. then you might want to consider selling it and preserve your credit.. once your situation changes, you will have salvaged your credit so you can purchase again. If you hold out without being able to afford the home,, then the inevitable will happen.. you will lose your home and your credit,, and you wont be able to purchase again for years. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893

Apr 2nd 2019
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