Mississippi is leading when it comes to mortgage delinquencies. In October 2011, there were more homeowners in Mississippi behind on house notes than in any other state of the union.
The Mortgage Bankers Association reported that there are 4.2 million homeowners across the nation more than 90 days late on their house note or are already in foreclosure status. Is this the indication of us being on the road to recovery that the media would us believe?
The fact is that mortgage service companies are not willing to provide modifications to help homeowners and as a result, foreclosures continue to rise. If you want to save your house, you cannot wait until the last minute, thinking a modification will come through. Get your documents together and meet with a lawyer now that handles bankruptcy and foreclosure defense to learn what options you have available. Get the information now – before you need it. Be prepared. Plan ahead. Think about it – what good is buying car insurance after the wreck? I continually meet with people that come in after the foreclosure sale date is set trying to figure out what they can do. In most cases we can still help and save the house, but it would have benefited the people so much more to have met with me as soon as their payments started falling behind. Timing matters – and knowing your options is worth it’s weight in gold. If you’re online, researching foreclosure because you’re worried about losing your home, the time is NOW to speak with someone. The most important thing is to save the home. There are options – the longer you wait, the less options there may be.