Foreclosure Myths Every Homeowner Should Stop Believing
Foreclosure myths spread fear and misinformation. Learn the facts that help you take back control of your home and finances.
Haidee
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Foreclosure is surrounded by myths that confuse homeowners and delay action. Let’s separate fact from fiction.
Myth 1: “Once you miss a payment, it’s over.”
Truth: Many lenders offer grace periods or modification options.
Myth 2: “You can’t recover your credit.”
Truth: Foreclosure recovery takes time, but steady payments rebuild scores.
Myth 3: “Lenders want your home.”
Truth: Foreclosure is expensive — lenders prefer payment solutions.
Myth 4: “You don’t have any rights.”
Truth: Homeowners are legally entitled to notice, mediation, and due process.
Myth 5: “All help programs are scams.”
Truth: Many legitimate government and nonprofit programs exist to assist homeowners.
Knowledge dispels fear — and the right information empowers action.
