When faced with foreclosure it can be very overwhelming. The stress alone makes it hard to find the solutions and unfortunately there are people out there claiming to want to help but only with the intention of making money. You will notice loan modification companies, attorneys, realtors, mortgage agents and investors all have jumped in to the arena of foreclosure assistance.

The first thing I want say is that you will need to do your homework. If you are serious about keeping your home and will do whatever it takes then put in the necessary time to know what foreclosure means and how it works. Each state is different so be sure you check into your particular state laws.

There are many resources now that were not available several years ago such as your state website which can direct you to who handles foreclosure information in your state. I have found different entities handle complaints and information. Some states have Mortgage Lending Divisions and others go through Business and Industry etc. so just search or call and you will be directed to the right place.

As you research you will find many options. Be careful with promises that sound too good to be true. There are many scams and they disguise themselves very well. Be sure to check out their business license, the Better Business Bureau, FTC, and any other state entities they may be licensed with to do business. This way you will find out about complaints and the nature of the complaints not to mention if they are even licensed.

At times it will feel like a lot of work to go through the motions of homework but it is worth it to protect yourself from any further stressful situations. There are many good books on the subject as well but be sure to get the most recent so it will have accurate information because laws and information are changing so much. Also, make sure the author is a credible source to ensure better advice on foreclosure.

Deciding on whether to short sale, modify, or just walk away is a big decision that should not be taken lightly and I suggest looking into each one so you will make the best decision for you and your family. Honestly, if you bought the house with little or no money down then your investment in the house is not much different than had you rented and be sure it is not only an emotional attachment because with housing prices lower it may be better to move on. On the other hand, if you refinanced or bought with substantial money down then you have more than emotion going on.

If you feel you were done wrong by your lender by all means pursue it. Do not let them intimidate you nor let the law process. I cannot state enough that if you do your homework you will feel empowered and less stressed. Find others who have fought and learn from it. Remember, no one can take your peace without your permission. If you do it can affect your relationship, job, and most of all your sanity!

This is not intended as legal advice. I am licensed Mortgage Agent in a city that has made headline after headline for the housing market – Las Vegas. I myself have been through foreclosure starting three years ago with the first sale and still in the courts now. I represented myself several times successfully and now have the assistance of an attorney as I am suing them rather than them me. My house has been sold 3 to 4 times by my servicer and each time I got it back but now I am trying to make it permanent. They say what goes around comes around so I will be writing on my experiences so as to help others and maybe the blessing will come back to me.