It is everyone’s dream in Sacramento to own a home. As home loans are made easily affordable, almost every family has a home of their own. Home loans with low mortgage rates are provided by the government for low income and bad credit people. These loans have interest rates as less as three percent. Consolidation of loans by the government has made repayment much easier. In spite of all these, foreclosures are on the rise.

The major factors that contribute to foreclosures are fall in real estate prices, abundance of unsold homes, inert home sales and mortgage loans going into default. People could not afford homes because of their heavy prices were seen buying fancy homes. This was possible because of the government grants and loans with adjustable rates. A major fall back with government grants was that, they were issued to people with low income and bad credit. With loans having adjustable rates, people were finally left hands full with a mortgage loan they could not repay. When owners do not repay, the foreclosure process sets in. Homes are foreclosed when owners are lagging in their repayment for a period of 5 months.

But this can be stopped. Owners can stop their homes from being foreclosed. Since foreclosure is a time consuming process, owners will have to act immediately. First understand the foreclosure process. In a hurry, your first visit is to a foreclosure rescue firm. But wait, stay far away from them. Most of these firms are scams and they charge thousands of dollars from you to only have a look at your file. They do not offer any help. They only make you believe that you cannot stop the foreclosure. But they are wrong.

Foreclosures can be stopped by none other than the home owner. That is you! You can escape a foreclosure by getting your payments to the current. Selling your home and paying off for what was yours or refinancing are other options. While selling a home, you must repay all the loans. But in foreclosures, second mortgages and credit lines are usually written off.

Another option to stop foreclosure is to file bankruptcy. Filing of bankruptcy can help stop foreclosure. But this is only a temporary option. Also this is a very complicated and expensive procedure. There are huge risks of the bankruptcy judge dismissing your case. If that happens, the foreclosure procedure will continue as before and you are left with no option.

In order to avoid all this and save yourself the foreclosure, do not delay repayment of your loan. Make use of all the facilities and programs the government has to offer in paying back your loans.
Choose a loan and repayment scheme that best suits your finances and avoid foreclosures.

For additional resources and information please visit the following sites.

Resource Links:
http://www.gmacrealestate.comt
Bill Fields All Star Coaching Program: http://www.AllStarCoaching.net
GreatWest GMAC Search all MLS Listings: http://www.LocalHomeLink.com
GreatWest GMAC Consumer Buyer/Seller Blog: http://www.GreatWestBlog.com
T. Sami Siddiqui (Broker/ Owner) Buzz About Sacramento Blog: http://www.samisiddiquiblog.com
Brodie Stephens (Executive Vice President) One Stop Blog: http://www.brodiestephensblog.com
GreatWest Podcasts- Weekly Updates on new REO, Short Sale, Bank Owned Foreclosure Listings: http://www.HouseTalkOnline.com
GreatWest Videos: http://www.youtube.com/brodiestephens
Facebook Brodie Stephens Profile Page: http://www.facebook.com/brodiestephens
Facebook GreatWest Profile Page: http://www.facebook.com/searchmlshomesforsale
MySpace Brodie Stephens Blog: http://www.myspace.com/brodiestephens
MySpace GreatWest Blog: http://www.myspace.com/greatwest
Picasa Web Album: http://picasaweb.google.com/brodiestephens
GreatWest Real Estate Careers- GMAC is looking for Professional Realtors to Join Us: http://www.CareersWithUs.com
Global Employee Relocation: ahttp://www.employeerelocation.blogspot.com
Apply for a Loan: http://www.choice1funding.com
ActiveRain Blog Brodie http://activerain.com/blogs/brodiestephens
ActiveRain Blog Company http://activerain.com/blogs/greatwestgmac
Sacbee http://www.sacbee.com
Company WordPress Site http://www.thehomeholders.com
Real Living http://www.realliving.com