Homeowners who fall behind on their mortgage sometimes lose their home to foreclosure because they fail to do simple things that could help them save their home. It's not that people don't want to save their home, or are stupid, they just don't have the knowledge and experience to understand how important it is to do some things and not do others.
Our law firm is very experienced in helping homeowners who are experiencing foreclosure. We've been in business for 10 years and have helped more than 7,000 homeowners stop or avoid foreclosure with a loan modification. So, we've seen every mistake that homeowners can make when they get into trouble with their mortgage. Here are some of the most common mistakes to avoid if you don't want to lose your home:
1. Not opening your mail
When you fall behind on your mortgage, you will receive important information in the mail. Your bank is required to send you a default letter/notice of intent to accelerate that tells you you will lose your home to foreclosure if you don't remedy the default. If you aren't able to avoid it, you will eventually be mailed a notification that a foreclosure sale date has been scheduled.
