Foreclosure Process

Okay, in this blog I will talk about what I learned about foreclosure. When given this assignment I didn't know the legal name for the process of a mortgage lender reclaiming the home of someone who fails to pay the mortgage. After reading litttle bits and pieces about what foreclosure was, I realized didn't know much about it. I wanted to touch on the fact that it is very important to keep up on your loan payments. It is also important to keep in touch with your service company. They are there to help you figure out how you want to pay every month and whats a good payment plan for you. Another thing I learned that can help me if I want to prevent foreclosure is to be sure to document all discussions I have with my servicer, write down the date, the name of the individual I talked with, and the outcome of my call. Additionally, i need be sure to follow-up all telephone requests with a letter to my servicer. Finally, I need be sure to meet all deadlines provided during the process. What do you know?! A girl can learn something new everyday!