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'Five Steps To Prevent Big Mortgage Trouble'

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Five Steps To Prevent Big Mortgage Trouble

By Art C Ryter at 04/30/07 23:34

This is really a no-brainer in terms of preventing mortgage delinquencies, or worse yet, foreclosures, but the five steps are: make your payments on time to avoid foreclosure proceedings; focus on your monthly budget to squeeze money to make your subprime mortgage payment; talk to your lender to avoid foreclosure and get the safest advice (especially because fraudsters like to prey on people who have missed payments); ask about alternatives to foreclosure, such as a forebearance; and finally find out how your credit score would be affected, because you may want to be able to buy another house some day.

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