Foreclosure Advice to Avoid

How to Find Sound Foreclosure Advice - What to Avoid

When your home is on the line, it pays to get good foreclosure advice. Where can you get useful information? Friends and family may offer foreclosure advice, but usually aren’t the best source. Find out where to get truly useful foreclosure advice and what to avoid.

A Big Deal

Foreclosure is a big deal. There’s a lot of money involved, laws are complex, and your credit may be affected for years to come.

Keep this in mind as you seek foreclosure advice. It’s worth spending extra time and money to get things right. You may recoup the cost (your time or money) easily if somebody manages to guide you around the pitfalls.


Your best source of foreclosure advice is a local expert. The US Department of Housing and Urban Development (HUD) provides foreclosure advice in many cities at no charge.

You may also want to work with a local attorney. Attorneys have the qualifications to navigate legal minefields, and local attorneys are familiar with your state and local laws. You may find helpful information elsewhere, but it might not apply to you and your specific circumstances.

Friends and Family

What’s wrong with friends and family? Unless they’re also local attorneys, their foreclosure advice can make things worse. They have the best intentions, but may not be qualified to help.

Even if they’ve been through foreclosure themselves, your situation is different. Advice they received from attorneys and counselors may not apply to you and you could miss out on opportunities.


If it’s not too late, you may be able to avoid foreclosure. Try working with your lender to see if there’s any way to keep the home.

Don’t assume that foreclosure is the only option available to you. You may be able to refinance or modify the loan through your lender or with state-sponsored programs. It's best to know all the options before you make a decision you can't reverse.