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If you’re behind on your mortgage payments, have no fear. The U.S. Department of Housing and Urban Development has some really good tips what to do to avoid foreclosure.

1. Don’t ignore it. The longer you put off your situation and get behind in your finances, the more likely it will be that you will lose your home to foreclosure. As soon as a problem arises...
2. Contact your lender. Your lender will be the best resource to help you avoid foreclosure.
3. Check your mail. Your lender will send you important information about avoiding foreclosure and also legal documents in the mail. You’re responsible for these documents and will be held accountable for them.
4. Know your rights. Make sure you know the ins and outs of your loan documents so that you can be prepared for what your lender can and can’t do. Be sure to also know the foreclosure laws in your state.
5. Understand your options. Visit the U.S. Department of Housing and Urban Development website to get informed.
6. Contact a HUD-approved housing counselor. Call (800) 569-4287 to talk to someone who can help you understand your options.
7. Your house should be a priority. Your house should be your first priority after the health and well being of you and your family. Eliminate any optional spending (cable TV, Internet, etc.) in order to make your house payments.
8. Use your assets. If you have assets (expensive jewelry, a car, etc.) you can sell those and use the cash you gain to help reinstate your loan.
9. Stay away from foreclosure prevention companies. These companies will charge you outrageous fees to contact your lender and negotiate your loan. Just save your money and put that toward your mortgage.
10. Watch out for foreclosure recovery scams. Some firms may claim to stop the foreclosure process for you immediately and require you to sign your life away for them to do so. Consult your HUD-approved counselor before signing anything.

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