What can I do if I am facing foreclosure?

If you are facing foreclosure in Washington, you have several options. The first thing you should do is contact a foreclosure defense lawyer. A foreclosure defense lawyer can advise you on how best to protect your rights and possibly keep your home. They can also help you negotiate with your lender to work out a repayment plan or loan modification. Another option is filing for bankruptcy. Filing for bankruptcy may temporarily stop the foreclosure process and give you more time to make payments. Bankruptcy can also eliminate debts, giving you more financial flexibility. The Washington State Department of Financial Institutions also offers consumer credit counseling and loan modification services. Counseling services can help you find ways to better manage your finances, while loan modifications may allow you to reduce your monthly payments. You should also contact your lender as soon as possible and let them know you are actively trying to work out a solution. Many lenders are willing to work with borrowers who are in foreclosure. Finally, you can take advantage of various state and federal foreclosure prevention resources, such as the Washington Homeownership Information Hotline, or apply for the Home Affordable Modification Program (HAMP). No matter what option you choose, it is important to remember that facing foreclosure can be a difficult process. Working with a knowledgeable lawyer or counselor can help you navigate the process and work out the best solution for your specific situation.

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What can I do if I am facing foreclosure?

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