How to Stop Foreclosure on Your Home

Video Transcript

"There isn't much you can do to stop a foreclosure on your home. I'm Richard with the Richard Blake Home's Team in Clearwater Florida. I'm here to explain to you how you can stop a foreclosure on your home. First thing that you're going to want to do is call up your lender. You can find that number on the mortgage payment that you're sent every month. The number should be on there for you to give them a call. Ask them if there is any way for you to make some adjusted payments on your mortgage. Tell them that you've had some hardships and that your financing obligations have changed recently. Ask them if there is any way that you might be able to decrease the interest rate for a short period of time or maybe change up your payment program to smaller payments more often; numerous different options, but most importantly just contact them and ask them if there's anything they can do to help you out. If, for whatever reason the lender is not willing to work with you then you may want to consider doing a short sale. In that that case I recommend that you contact your local real estate agent and explain to them your situation and ask them what it means to do a short sale and if you would be a good candidate for a short sale. OK. I'm Richard Blake. I hope that helps you a little bit with how to stop a foreclosure. You guys have a great day."