I knew we were in trouble but did not want to admit it. Bills were stacked to ceiling and I was running a no-frills household. Foreclosures had hit our neighborhood hard. Even with a second job I was way behind.

I lost my job and my wife took a second low paying one. I sat in the attic sorting items to put up for sale. Our personal history included my powder blue tuxedo and my wife’s strapless wedding gown. Toys we gave are now grown children surrounded an electric breast pump. My plan to lose weight fast included several discarded exercise devices.

I was packing up some of our best memories for the neighborhood yard sale. I realized I had the default notice in my coat pocket where it had been for nearly a week now. Some of my friends described feeling scattered, lost, benched and depressed when facing their foreclosure. I never thought it would be me too.

I decided to dig in and find out what I needed to know. I find my mortgage documents and contacted the entity that now owned my loan. I found out that my loan was one of the types that offered free counseling services. This was when I entered the world of loan modification and learned the rules.

VA and HUD also have free counselors to determine if you qualify for loan modification programs. You may also fit a special needs category that entitles you to modified loan. Work quickly and do not waste any business days. The clock is ticking on your foreclosure.

That means that you have a specific period of time to cure your default. This is the total amount of late payments and interest plus any foreclosure costs that you are behind on. That is the cure amount. In the last five days you must come up with the total amount. Check for the details in your state.

Check the rules in your state and research your redemption rights. The time lines are important and it is crucial that you know it works in the state where you live.

If you cannot come to terms with your lender your home will finally go to auction. It will likely not be purchased by a bidder who knows that after the bank takes it back they will get a steep price reduction. Whatever you do, do not sit in your attic collecting memories when you could be at your computer collecting the information that might forge a solution.

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