The goal of homeowners in avoiding mortgage default is to prevent the lender from foreclosing on their property due to non-payment. Defaulting on a mortgage can have severe consequences, including damage to credit score, loss of home equity, and even eviction. To avoid mortgage default, homeowners can take several steps, such as keeping up with mortgage payments, seeking assistance programs, refinancing, and working with attorneys or other professionals to negotiate with lenders. By avoiding mortgage default, homeowners can maintain their financial stability and protect their investment in their home.
Tips for Home Owners
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