We have all heard and read the daunting news about the ongoing rise in the foreclosure rate across America, thanks to increasingly tightening credit standards and rising interest rates. 


Many homeowners are lulled into believing that it can or will not happen to them, but would you know what to do if you could no longer pay your mortgage?  It is important to know your options so that you can make an informed decision on the best way to move forward in a stressful situation such as foreclosure.


This article from FreddieMac.com does a great job outlining the terms associated with foreclosure and the steps to take if you think you may soon be facing foreclosure.  Among the topics covered in this helpful article:

  • What to do if you can not pay your mortgage
  • What if you can no longer afford to keep your home
  • Beware of scam artists

I would also add to the list of steps to take when facing foreclosure – contact an experienced Realtor!  Along with a reputable lender, an experienced Realtor can help explain your options and guide you through whichever choice you decide to make.


For more information about Montgomery AL real estate, please call me today at 800-HAT-LADY or visit HomesForSaleInMontgomeryAlabama.com, I would be happy to help you.  You may also click here to receive a complimentary analysis of your home's value!