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How Can I Prevent Home Foreclosure?

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How Can I Prevent Home Foreclosure? | SR & Associates

If you’re concerned that your home will be foreclosed on, you might be wondering if there are ways to prevent it from happening to you. If you haven’t yet reached the foreclosure stage, there are ways to prevent it from happening, such as taking a look at your expenses and planning out if you can afford to keep making your mortgage repayments.

If you’d like to find out more ways to prevent foreclosure from happening to you, read on below.

Thinking About Foreclosure | SR & Associates

What is foreclosure?

When you take out a mortgage, your home is held as security by your lender. This means that if you fall too far behind on your mortgage repayments, your lender can repossess and sell your home to cover the overdue amount. In most cases, foreclosed homes are either sold at auction, or sold directly by the lender after they have taken repossession. If the sale of the home is enough to cover the outstanding amount owing on your mortgage, other properties or items may not need to be repossessed.

Discussing Foreclosure With An Advocate | SR & Associates

How can I prevent home foreclosure?

If you’re concerned that your home could be foreclosed on in the future, there are some things you can do that might help. Some of these options might be:

  • Consider your expenses – If you’ve previously been able to afford your repayments, it might be worth looking at what’s changed. You might find it helpful to consider your expenses, and then make a plan of how to move forward with your repayments.
  • Take Action – If you feel that foreclosure is coming, don’t hesitate to take action and seek help. The quicker you take action, the more chance of a better result.
  • Get financial help – If you’re feeling overwhelmed with your financial situation and feel that you are unable to make your repayments, it might be best to seek some help. If you have been missing payments and are concerned that you are going to fall too far behind to catch up, it’s best to seek help earlier rather than later. SR & Associates can assist you with getting your financial situation back on track if the foreclosure process has begun.

How can SR & Associates help me?

SR & Associates has more than 40 years of experience and has successfully helped 1,000’s of people Australia wide during foreclosure.

We’re here to provide support services to those who do not know where to look, or who don’t know where to turn during the foreclosure process. You shouldn’t have to live in fear of your home being repossessed, and that’s where we come in.  We can also advocate for our clients to help to stop them from being harassed by creditors and debt collectors.

Our helpful advocates can give you confidential assistance, and find a personalised solution that works for you. We believe in complete transparency, so you won’t get any nasty hidden fees from us. If you need help and support, call our supportive advocates for your free consultation today.

*Disclaimer: This article contains general comments and recommendations only. It is not intended to be and should not be construed as legal advice. This article has been prepared without taking account of your objectives, financial situation or needs. Before taking any action, you should consider the appropriateness of the comments made in the article, having regard to your objectives, financial situation and needs.

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