Facing foreclosure can be daunting, but homeowners have options to prevent losing their property. Lenders often prefer to work with homeowners to avoid the costly foreclosure process. Key steps include understanding the foreclosure process, communicating with lenders, and exploring loan modification options such as principal reduction, interest rate adjustments, and term extensions. Government assistance programs and HUD-approved housing counselors can provide valuable support. Taking early action is crucial to protect your home and financial future.
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