The first step to recover foreclosures in West Virginia is to inform your lender when you can't make your payments on time. Lenders do not want your home because they usually end up losing money in the foreclosure recovery process.

Lenders are therefore motivated to try all options in the West Virginia foreclosure process which may include forbearance, partial claim, payment modification and payment suspension. However, you will have more options if you are only a payment or two behind.

There are three key actions that can stop foreclosure in WV:

1. Answer any correspondence that you receive from your lender. These notices will contain important information on the West Virginia foreclosure recovery process and pending legal action.
2. Raise short-term money to make a missed payment. This may include the sale of a second car or jewelry, or a currently-unemployed household member may be able to get a job.
3. Avoid foreclosure recovery scams. Many companies that claim to be able to stop your foreclosure will charge you for free information. Others may attempt to obtain the title to your house.
   

Action Steps
The best contacts and resources to help you get it done

Know how WV foreclosure law will affect you

Laws on foreclosure vary considerably by state so you should be familiar with at least a summary of West Virginia foreclosure law. You should also read your loan documents to know what your lender can do if you can't make your payments.

I recommend: Foreclosurelaw.org offers a summary of West Virginia foreclosure laws and a glossary of common foreclosure terminology. In addition to a summary of West Virginia law, American Foreclosure Specialists provides a description of possible strategies for avoiding a foreclosure on your home.

Get information on WV foreclosure help

There are housing counselors and online resources available to help you understand your options, assist you in organizing your finances and negotiate with your lender if needed.

I recommend: Consumer Credit Counseling Service offers an online tutorial through its CredabilityU website to help you keep your home, as well as many other financial tips. DebtAdvice.org is a service provided by the National Foundation for Credit Counseling and allows you to locate housing counselors based on your zip code and search radius.

Retain one of the many West Virginia foreclosure attorneys

If you need to sign documents, you may want a foreclosure attorney. West Virginia foreclosure lawyers will be able to protect your interests when you are facing a foreclosure.

I recommend: Baker & Armistead is located in Morgantown and handles matters of real estate including foreclosures for their clients. Hayden & Hart in Beckley has a range of practice areas that include foreclosures.

Watch out for mortgage recovery scams

The Federal Trade Commission warns that there are plenty of bad guys operating in the foreclosure recovery business who will take your money and provide no service. Some warning signs, according to the FTC: advertising terms like 'guarantee' and '97% success rate', upfront fees before services and company names or websites designed to make you think you're dealing with a government or nonprofit agency.

I recommend: Educate yourself about foreclosure recovery scams through the Federal Trade Commission. The FTC recommends you only seek foreclosure help from government sanctioned counseling agencies like the ones recommended by the U.S. Department of Housing and Urban Development or the federal Making Home Affordable program.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Speak with a manager when you contact your mortgage company as part of your West Virginia foreclosure recovery process. The front-line operator will normally be interested only obtaining your payments that are past due. Ensure you have your loan number, household expenses and recent pay stubs handy and provide a brief, honest account of your financial circumstances. You will also want to get the direct contact information for the manager to whom you are speaking.