As a homeowner who may be facing foreclosure you have options. It is in your best interest to know what these options are. Do not accept the fact that your home is going to go into foreclosure. You should not just lie down and give up.

You can avoid foreclosure if you will defend your rights.  One of the biggest issues that you should consider is, "Does the mortgage company that I am in default with actually own my mortgage?" This may sound like a crazy question yet, each time a mortgage changes hands, the seller is required to sign over the mortgage notes to the buyer. With all, the buying out of defunct mortgage companies this does not always happen.

With all the changing of hands your mortgage may be owned by a company you have never heard of.  In an effort to hedge against the risk of directly holding loans and to make a profit as a "reseller", the bank will often package the loan along with several thousands of others, and sell the rights to investors across the world.

Your mortgage could be owned by virtually anyone. Trying to track down the ownership of your mortgage could be more difficult then trying to Geocache blindfolded (Geocaching is treasure hunting with a GPS).

Often the rights to service a mortgage are deceptively sold from one firm to another. The chief argument against allowing lenders to sell mortgage rights is that some lenders would go broke without the servicing fees.

In excess of $2 trillion of outstanding mortgages have been bundled and sold from one loan agency to another.

As the homeowner how does this affect you?

Well as a result of this mortgage "go-fish" game your mortgage may not be owned by the very company that is threatening foreclosure. Obviously if they do not really own the loans then they have no right to process foreclosure. So you can see how this may be a huge defense in fighting to keep your mortgage.

By insisting that the lender shows you that they actually own the mortgage you can stall the foreclosure process till the paperwork is produced. Certainly the lender has options to resolve the missing assignment, but all of these options take time. Time that could be used for you to correct your financial situation.

These defense measures have been used and been effective for many people who have been facing foreclosure. Judges have stopped foreclosure because the lender could not prove they own the mortgage.

If the court cannot prove who owns the mortgage then it's likely that you may be able to defend your home. While this may not be the case in your particular situation this is a tool of defense that you definitely should consider.

It is in your best interest to hire a professional to examine your mortgage documentation and see if there are any illegal practices involved in the document. This agency should also confront your lender to prove ownership of your mortgage. Once ownership has been proven this agency should enter negotiations with your lender to establish new perimeters of your loan.

These adjustments may come in the form of extended terms or lower fixed interest rates. Either way this adjustment may allow you to realign your mortgage to a point that you can afford to keep your home.

So if you are being faced with foreclosure do not just give up you do have options and together with a reputable agency you may be able to avoid foreclosure.

Discover how you can ethically modify your home mortgage loan and save as much as 47% off your current mortgage payment in as little as 60 days without refinancing? For your FREE CD, FREE e-book, and FREE coaching call with Mortgage Modification Expert and Business Man of the Year Billy Alvaro visitor website Saint Jude's Mortgage Rescue