How to Stop Foreclosure--General Tips

 Nevada again is on top of the foreclosure statistics, and I really don't feel the necessity of citing any sources. It is an open secret for quite sometime. Foreclosure is on the rise, and the tide has become uncontrollable especially in Nevada even after some phony good news. Even though I had written extensively in my other blog under "loan modification attorney of Nevada, I still I like to mention briefly here the tips to stop the foreclosure:

1. Please contact your lenders/servicers immediately. Don't wait for the notices to start appearing and posting in local newspapers. Contact them urgently. It is important. Most of the foreclosures are happening because of no or lack of communications.

2. Open a dialog and tell them your situation. Write down all the facts of your situation. Send them letter, and keep copies for your record.

3. Don't be frustrated with the process. It is obviously time consuming. There are lots of people ahead of you and banks are swamped with similar requests.

4. Most of the folks (newly hired) by your lenders and servicers are new folks, and learning the job as they go. Please be patient with them as they have no experiece, a customer service kind of education (meaning high school) and are not paid much ($10 an hour or so).

5. Make record of every phone calls, write down the name, phone extension etc of the person you spoke.

6. No need to lose your temper or frustration on any of the customer or loss mitigation representative. They have not caused this situation.

7. Send them whatever they want, resend the same things again. Don't make a big deal about their demands. They are swamped. Their fax machines are overworked and may be out of ink, or papers, or other technical issues. Remember they are human beings as well.

8.Try to call the rep by their first name more often than one time during conversation. Try to build a bond between you and him/herself. Yelling, screaming would be totally unproductive. No need to tell them the horror stories, they know enough already. Try to be brief, and not very legalistic. You are not an attorney, you are consumer. Ask yourself one question, why I am behind? How many months I am behind? Why did not I pay them? Afterall, you signed the contract as well. Please stop having over expectations. No one is deliberatly harming you. Accept the fact that you could be wrong also, and you had made mistakes as well. Now, let us sit back and read this wonderful article.

9. Once you have been denied, explore other options.

10. If nothing works, walk out graciously from your home without destroying anything. Maybe try to get a cash deal for "keys". Treat it as white elephant and balance your budget.