Its amazing how many families lose their homes needlessly. When a family encounters financial problems and cant keep their mortgage payments up to date, they could explain their situation to their lender or mortgage servicer and probably work out a special plan to resolve the problem. But in most cases they just let the problem worsen until their home is taken in foreclosure.

Thats the finding of a recent survey taken by Freddie Mac and Roper Public Affairs and Media, a noted market research firm. In over half of all home foreclosure cases the homeowners never contacted their lender about their problem, it was found. It was also noted in the survey responses that about 75 percent of the delinquent mortgage borrowers recall being contacted by their mortgage servicers. But most of them gave a variety of reasons for neglecting to follow-up with those servicers to discuss workout options. Mortgage servicers collect monthly housing payments on behalf of the lender or other owner of the mortgage.

The results of the survey are a wake-up call to delinquent borrowers everywhere, said a Freddie Mac vice president. Its message is clear: when you get a phone call or letter from your servicer, dont ignore it act on it. Pick up the phone, call your servicer and talk to them about the possibility of forbearance or some other repayment alternative because it just may be your best chance to avoid foreclosure. Part of the problem, as shown in the survey responses, is that theres a dangerous knowledge gap. People are definitely interested in the options available to them, but their awareness of those options is low.