Real NEWS | Debunking Foreclosure Myths

Great article in the LA Times about common myths and misconceptions regarding foreclosure. This is a worthwhile read for anyone who’s ever thought one or more of the following:

• “If I tell the mortgage company I’m having a problem, it will speed up the foreclosure process.”
• “If I miss just one payment, I’ll lose my home.”
• “I’ll rob Peter to pay Paul until I can get back on my feet.”
• “What choice is there but to lose my home?”
• “I’m receiving so many offers from people who say they are trying to help me save my home that they all must be scams.”
• “My lender isn’t responding to my inquiries.”
• “To get my lender’s attention, I should stop making my payments.”
• “If I’ve been turned down for a loan modification, there is no point in seeking further help.”

Definitely check out the article for the responses to these concerns.  The man makes some good points.  Especially about the government-approved counseling agencies available to provide good advice at no cost.  Use them.