Tips for foreclosures

If a lender puts you on notice

Homeowners have many options once a lender has filed a foreclosure notice. Foreclosure specialist’s advice:

Don't ignore mail from your lender; stay in touch even after a foreclosure notice has been filed. Most lenders would rather work out options than foreclose on a home.

Beware of foreclosure companies calling themselves "mortgage consultants" or "foreclosure services" promising to save your credit or pay the closing costs. Beware of deals that take over ownership of your home. If you turn to a foreclosure rescue firm, be aware such companies do not need a state license to operate in Florida unless the business is selling or buying properties.

Never transfer your property deed or title to a rescue firm. Never sign a contract under pressure and without legal advice. Do not pay your mortgage payments to someone other than your lender.