How can I protect myself from foreclosure?

If you are facing foreclosure in Oklahoma, there are steps you can take to protect yourself. The most important thing to do is contact your lender as soon as you can to discuss your situation. Your lender may be willing to work with you to come up with a payment plan that works for both of you. You should also contact a housing counselor. A housing counselor can provide advice and assistance to help you avoid foreclosure. They can work with your lender on your behalf to see if they can negotiate a more affordable payment plan. If your lender has already started the foreclosure process, you may be able to get a forbearance, repayment plan, loan modification, or special forbearance. These options can help you save your home by reducing your monthly payments. Finally, you can explore other options such as a short sale or deed in lieu of foreclosure. In a short sale, you sell your home for an amount that is less than the amount owed on the mortgage. In a deed in lieu of foreclosure, you transfer title of the home to the lender in exchange for the lender forgiving your debt. By taking these steps, you can protect yourself from foreclosure. However, it is important to remember that different options may have different consequences. Therefore, it is important to work with a professional to come up with the best solution for your specific situation.

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How can I protect myself from foreclosure?

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