Know how Oklahoma foreclosure laws will affect you

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

I recommend: Advantage Mitigation Services summarizes the foreclosure laws in Oklahoma and outlines the foreclosure recovery process.

Get assistance with Oklahoma foreclosure recovery information

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: 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. The Home Loan Learning Center offers extensive resources, including an online quiz for assessing your risk of losing your home.

Retain an Oklahoma foreclosure attorney

You may need one of the many Oklahoma foreclosure lawyers to protect your interests, especially if you need to sign documents. If your regular attorney does not handle Oklahoma foreclosures, he or she may be able to make a referral.

I recommend: J. Kevin Blaney in Oklahoma City practices Oklahoma foreclosure law for clients throughout Oklahoma. Davis & Thompson is located in Jay and includes Oklahoma property foreclosure law in its areas of practice.

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.