How to Save a Home From Foreclosure

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The best way to save a home from foreclosure is to make mortgage payments, but if this is impossible, the homeowner should consider talking with the mortgage holder to restructure the mortgage. Find out how to lengthen a mortgage or lower an interest rate with help from a certified civil mediator in this free video on foreclosures and money management.

Part of the Video Series: Bankruptcy & Foreclosure
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Video Transcript

You may have begun to experience the problem of making your mortgage payments, and now you are concerned about possibly facing a foreclosure on the mortgage to your home. Hello, I'm Robert Todd, and I'm here to answer the question: How to stop a home from being foreclosed upon. The first thing you want to do if you can is make your mortgage payment. In other words, if you're behind in all of your monthly payments, make your mortgage payment above making your credit card payments or making payments on other unsecured debts. If you are still having difficulty making your mortgage payments, you may want to consider talking with the mortgage holder to see if there's some way you can restructure the mortgage on your home, such as lengthen the time, lower the interest rate, and what you're doing is you're lowering the monthly payment. I'm Robert Todd, and thank you for watching.

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