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If you have equity in your house and are facing foreclosure because of missed payments or a rapid increase in your mortgage interest rate, it may make sense to try to hold on to your house if for no other reason than to protect your equity. Needless to say, the more equity you have, the stronger this reasoning.
You may also want to fight to keep your house if you believe your financial situation will improve, allowing you to afford future monthly mortgage payments which are currently unaffordable.
Once you decide that your house is worth fighting for, read the articles below to figure out which foreclosure alternative is best for you.