How to Avoid Foreclosure in Snohomish County WA

Thanks to this past summer’s increasingly tightening credit standards and rising interest rates, there has been a lot of buzz about the startling increase in foreclosure rates across America.

Many homeowners think it can or will not happen to them, but what would you do if you were actually faced with the prospect of foreclosure? It is important to know the “lingo” of lenders and understand what the options are so that you can make an informed decision on the best way to move forward in a stressful situation such as foreclosure.

This article from FreddieMac.com is a good resource that defines the terms associated with foreclosure and walks through the steps to take if you think you may soon be unable to pay your mortgage. Among the topics covered in this helpful article:
- What to do if you can not pay your mortgage
- What if you can no longer afford to keep your home
- Beware of scam artists

I would like to add to the list of steps to take when facing foreclosure – contact an experienced Realtor! Along with a reputable lender, an experienced Realtor can help explain your options and guide you through whichever choice you decide to make.

For more information about Snohomish County WA real estate, please call mes today at 425-308-3669 or visit KarensVillas.com, I would be happy to help you. To receive automated emails of new listings that match your criteria, please visit WashingtonMLSSearch.net.