Foreclosure Articles Foreclosure Loans Foreclosure at Shopping.com Find, compare and buy Foreclosure. Choose from thousands of stores. With rising interest rates and a softening housing market in states such as California and Florida, the number of foreclosures and notice of defaults has risen steadily over the past 12 months. Facing a foreclosure on your home can be a scary and unsettling prospect for a borrower. There are steps that homeowners can take to protect their most important asset from foreclosure proceedings. One note: if you are a homeowner and are in serious financial difficulty, you need to find a professional attorney to help you keep your home. The most important step is to act - don't put your head in the sand and expect it to all go away. Be ready to discuss your financial situation honestly and open. A great first step is to get in touch with your mortgage lender. Borrowers often assume that the person or institution that is funding their loan wants them to default on their loan so that they may repossess the home. Banks and other lending institutions are typically large corporations that based their businesses and revenue projections on specific income levels each month. Foreclosures disrupt this process and may be seen as more of a headache than anything for these lending institutions that simply want to recoup their initial investment. Prepare a series of questions for the lender that shows that you care about the situation and want to resolve it as easily as possible. A great source for this information is entitled, “Getting Out of Debt, Virginia Cooperative Extension publication 354-027” and can be found online at www.vt.edu. This paper can help you formulate the right questions to ask and also has useful suggestions for how to handle your financial difficulties. A foreclosure loan or emergency loan is simply one that helps you avoid foreclosure. It may be structured to help you reduce your debt down to a manageable level. Talk to your lender to find out the most appropriate loan to help you avoid foreclosure proceedings. Corey Senn is a Senior Partner with Bad Credit Lender, a California based private lender that specializes in hard money loans and bad credit loans. Located in La Jolla, California, Bad Credit Lender provides competitive private California hard money loans, bad credit home loans, and bridge loans. In addition, Corey is one of the main contributors to the California Home Mortgage Loan web blog.