How can I avoid foreclosure by negotiating with my lender?

The best way to avoid foreclosure in West Virginia through negotiation with your lender is to contact them and be upfront about your financial difficulties. Ask them for a repayment plan or loan modification that you can pay on time and meets your needs. Explain your situation to them as honestly and accurately as possible. You should also know your rights as a borrower. Under West Virginia foreclosure defense law, predatory lending is illegal and lenders must follow certain regulations when helping borrowers. If you think your lender has violated these rules, you may be able to challenge the foreclosure. You should consider contacting a consumer law attorney for advice. Be sure to get any agreement in writing and explore all potential options, such as a loan forbearance, mortgage refinance or even a short sale. You may also find foreclosure prevention assistance organizations that can help you with the negotiation process. Finally, you should stay on top of your finances and be sure to make all payments in full and on time. Even if your lender is working with you to come to an agreement, they still have the right to foreclose if you do not meet your obligations. Keep up the communication to ensure that you and your lender are both on the same page.

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How can I avoid foreclosure by negotiating with my lender?

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