Booklet Tells How to Cope With Loans When in Financial Straits

If you’re already behind on your mortgage payments or afraid that you might lose your job and won’t be able to make them, the Mortgage Guaranty Insurance Corp. has a free booklet that can help.

“Preserving Homeownership: A Homeowner’s Guide” provides valuable tips to financially troubled homeowners who would like to avoid foreclosure and instead restructure their existing mortgage loan with their lender.

The booklet also includes worksheets designed to help borrowers get a better grasp of their finances and begin to gather the information that their lender will want to see before it approves a restructured payment plan.

The guide can be ordered by calling the mortgage-insurance company toll-free, (800) 272-4071. Financial experts at the firm will also answer basic questions about loan workouts for free.