If you are in a difficult financial position and fear that you are at risk for having your mortgage foreclosed, it’s vital that you communicate effectively with your lender. Here are a few tips for dealing with your lender so you can hopefully save your house:

1. Communicate early. Don’t wait until your situation is dire to talk to your lender about possibilities for refinancing or payment arrangements otherwise they will put you in default without considering your options.

2. Don’t ignore collection calls. Your lender will be less likely to work with you if you avoid them. Their job is to collect and they don’t want to foreclose if they don’t have to as they’d much rather help you keep your home so it’s profitable for them. Communicate!

3. Keep your promises. Don’t make commitments that you cannot keep. Be up front and honest otherwise your effort spent will mean nothing but a bit of borrowed time until foreclosure is inevitable.

If your house hasn’t been foreclosed, it’s not too late to do something to save it. Look at your options and work with your lenders to find a solution.