Appraisal Rebate? What is foreclosure? When do lenders foreclose? Are there things I can do to avoid foreclosure? What can be done to help me avoid foreclosure? How do I get started? Appraisal Rebate?                                                                                   Top We have a SPECIAL Appraisal rebate program this week whereby ForeclosureCanada.org will rebate you upto $250.00 of the cost of your appraisal. (VALID upto 30 days after your closing.) What is foreclosure?                                                                              Top Foreclosure is the legal means that enables your lender (who holds your mortgage) to repossess or take back your house in order to get their mortgage money back. When do lenders foreclose?                                                              Top When you stop making your mortgage payments. Once you do, you’ll begin receiving letters from you lender or lenders lawyers stating that you have missed one or more payments. Are there things I can do to avoid foreclosure?                      Top Definitely. Respond to your lender’s letters immediately by calling or writing to the lender’s Collection Mitigation Department. Explain your situation. Be prepared to provide financial information, such as your monthly income and expenses. Without this information, they may not be able to help. Stay in your home for now. You may not qualify for assistance if you abandon your property. What can be done to help me avoid foreclosure?                 Top Depending on the kind of mortgage you have, and your situation, you may be eligible for: Get a Second Mortage. This is the best option for 90% of the foreclosures. Deed-in-lieu of foreclosure. This enables you to voluntarily "give back" your property to the lender. This won't save your house, but it is not as damaging to your credit rating as a foreclosure. Special Forbearance. Your lender may be able to arrange a repayment plan based on your financial situation and may even provide for a temporary reduction or suspension of your payments. Mortgage Modification. You may be able to refinance the debt and/or extend the term of your mortgage loan. Pre-foreclosure sale. You could avoid foreclosure by selling your property for an amount more than the amount necessary to pay off your mortgage loan. How do I get started?                                                                           Top Simply click here to complete our Secured Online Form.