In foreclosure? Well, real estate investors and real estate agents had access to foreclosure data, so you may be bombarded with emails, letter, phone calls and people at your doorstep. But, those professionals had to pay for that data. That is no longer the case, thanks to zillow.com. Here is the article from the LA Times.
What does that mean for you? Now your neighbors, friends, newbie investors and just about everyone who wants to know, can go onto Zillow.com and see if you are in foreclosure. Sounds like an invasion of privacy to me. Zillow.com is a free site and has millions of people looking at houses for sale, values of homes, etc.
If you are not in foreclosure yet, you are in luck, for now. Only homeowners who have been issued a "Notice of Default" or a "Notice of Trustee Sale" will have their foreclosure information displayed on Zillow.com. If you are behind in your payments, though, it's only a matter of time before your lender issues one of those notices.
So, what should you do next? Talk to your lender and see if you an work out a loan modification. Also, see if you can come up with the money to bring your loan current. I don't advise this to most people, but you can borrow from your retirement, borrow from friends and family, sell a high priced luxury item (motorcycle, boat, RV, you get the idea) or get a hard money loan. All of these have their pluses and minuses, but at this point you have to develop your own solution.
Whatever you do, just make sure you DO IT! Many people ignore their financial troubles, which only makes things worse. In this case, if you are in foreclosure, everyone will know about it, too. This definitely adds salt to the wound.