1.
Keep records of all contact you have with the bank or lending institution you have your mortgage with.
This means all paperwork, from start until yesterday.
Keep your documentation filed correctly.
Keeping all documentation filed is the best way to find paperwork quickly when you need it.
It only takes a little while to file your paperwork if you haven't already.
Once you do it will be easy to locate any document associated with your mortgage.
2.
Use email as much as possible to correspond to your bank or lending institution.
It is much easier to have an electronic paper-trail than a typical trail of paper after paper.
Using email allows you to search documents and correspondence with easy search features associated with your email account.
It also keeps track of every person you have contacted and who has contacted you regarding your mortgage.
3.
Try to work with your bank or lending institution.
Some banks are actually interested in helping their customers.
They don't want your home to go into foreclosure as much as you do.
With the number of foreclosures happening, they are losing tens of millions of dollars a month.
If they can save a dollar by helping you they will.
They will always work with you if you have at least some equity in your home.
4.
If you have just got a letter stating that you are going into foreclosure go to the bank or lending institution and ask if a short-sale is possible.
A short sale is where the parties involved, you and whoever your mortgage is under, both take a hit on the home.
This is an easy out for you and the bank.
This rarely happens though 5.
The first day you get a letter from the bank or lending institution stating that they have started the foreclosure process, head to the hardware store and buy yourself a "For-Sale-By-Owner" sign.
This way you can try to sell your house before the bank takes it.
If you are able to sell it within the time frame granted then you will save yourself the embarrassing hit on your credit which might hurt your chances of renting a home if the process is completed.
6.
If you think you are going to foreclosure in the future, start planning in advance.
Cut out unnecessary expenses from your budget.
Humans survived without cell phones and fast food.
Try it and you might be surprised.
7.
Do not be scared of filing for bankruptcy.
Take advantage of what the governments have to offer.
Look into your state's homestead laws.
You might be living in a state that protects your home from being taken.
It will clear your bills up at the same time.
It is a lot better than having no home and having your old bills at the same time.
Don't be afraid to start over.
Everyone deserves a fresh start.