If you are facing foreclosure, make sure to follow these three important steps:

• Step #1: If you are having problems making payments, contact your lender as soon as you realize your payment is going to be late.
• Step #2: Do not ignore phone calls or letters from your lender. Contact them to explain your situation. Be prepared to provide them with financial information including your monthly income and expenses.
• Step #3: Understand your options and know your rights in your state.

The information contained on this site is not intended as legal advice. Consult appropriate professionals for legal advice and tax implications.