LSNV provides assistance to homeowners facing foreclosure, with the goal of home preservation.

Homeowners may find themselves at risk of foreclosure due to unpaid mortgage payments, property taxes, or even condominium or homeowner association dues. In some cases, homeowners can face foreclosure through no fault of their own, but rather due to servicing errors by the bank in calculating and crediting homeowner payments.

Some options for avoiding foreclosure are

• notifying the servicer of any bank error
• loan modification
• negotiating some other type of repayment agreement
• transferring title back to the bank (“deed in lieu of foreclosure”)

Sometimes selling the home and moving out could be the best option, depending on the individual situation.

ALERT: Homeowners should beware of foreclosure rescue scams that overpromise results while taking advantage of consumers.

LSNV may be able to provide referrals to certified local housing counseling agencies that assist with foreclosure prevention.