VALDOSTA — A query to local mortgage lender Wells Fargo Home Mortgage, located at 406 N. Valdosta Road, for advice to consumers on how to avoid or survive foreclosure produced the following responses.

The local office forwarded e-mailed questions to Wells Fargo’s home campus in Des Moines, Iowa, where company communications officer Debora Blume provided the following responses:

Q: A lot of folks might believe banks or lending companies can't wait to get their hands on your property and are sitting like vultures waiting to jump at the chance to foreclose. But the fact may be that foreclosure is the last option a lender wants to exert because it's a no-win situation for any involved party. Is that in fact the case? (the latter scenario)

A: Wells Fargo Home Mortgage has a number of options available to help customers who are facing financial difficulties.

We use foreclosure only as a very last resort. We make every attempt — within the confines of investor requirements — to develop an individualized solution that helps our customers get through a difficult time so they can stay in their homes.

Every party to a foreclosure loses — the borrower, the community, the investor and the mortgage lender. Profitability for the mortgage industry rests in keeping a loan current and, as such, the interest of the borrower and the lender are aligned. Therefore, mortgage lender have a significant incentive to prevent foreclosures.

Our national foreclosure rates have historically been below the industry average; currently 0.88 percent compared to the industry average of 1.18 percent (as of fourth quarter 2007).

We work hard to keep our customers in their homes, whenever possible, if they do experience financial difficulties.

We also proactively contact customers, and work with them on potential solutions based on their personal financial circumstances.

Q: What signs might homeowners see that should warn them to take preventative action to avoid foreclosure ... like, if you missed the second payment in a row and know you're going to miss the next one too ... what should you do?

A: Timing is critical for borrowers facing financial difficulty. Homeowners should begin by calling us and expressing their interest in keeping their home; the sooner a homeowner reaches us, the more options we have to find a solution. The homeowner should prepare for the call by gathering income and expense documentation that might be needed to consider a potential modification.

Q: If a homeowner already has been snagged in a foreclosure, is there any way out to keep the home?