MYTH: My mortgage company would rather foreclose on my home than keep me in it.
The mortgage company sustains an average loss of about $58,000 when foreclosure occurs (Tower Group Study). They are in the business of providing mortgages—not owning or selling homes—and would always prefer to keep you in your home.
MYTH: Foreclosure is an uncommon problem—I’m all alone in this.
Foreclosure is a challenge faced by millions of Americans every year from all walks of life. Rich, poor, young, old—the list is as diverse as society itself.
MYTH: I’ve missed too many payments to get help.
There’s always time to get help. We can’t work miracles, but we can always give expert advice for any situation. The help we’re able to offer is far more
limited if you’re eight payments behind than if you’re one or two behind. The sooner we can get involved, the better chance you have of avoiding foreclosure
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