5 Ways to Avoid Foreclosure

If you have not read the previous blog on "What is Foreclosure and How it Will Effect YOU" click the link HERE.

If you have then let's jump right in.

Foreclosure often leave it's homeowners feeling embarrassed but know foreclosure is never an easy feat even with a plan when done alone.

Here are 5 ways to avoid foreclosure.

• Bring the Loan Current

Clearly you are in pre-foreclosure and your behind on payments but that doesn't mean you can't bring the loan current. Contact me on how that is possible depending on your situation.

• Forbearance Agreement

You can request the lender gives you an extension of time before auction. They may be just enough time to weigh options and may a decision.

• Repayment Plan: Set up a payment plan with your lender.

Playing an amount that is more than the monthly payment over time until the loan is caught up. Some small banks will work with you via modifying the amount to help you over a 1-12 month period. That doesn't mean the reduction is permanent but used to allow you time. Reach out to your lender to see if they offer this service.

• Loan Modification: Permanent restructuring of the loan.

Refinance the loan for a smaller pay however you may lose the equity already established in the home. Contact me for additional options.

• Sell Your Home to an Investor

Selling your home will stop the foreclosure process and the effects they bring.

Let's be honest time is not your friend during this time. While foreclosure can be overwhelming, reaching out can be helpful.

If you are going through foreclosure and would like to use the option of selling your home please fill out the form below. We cannot wait to help during this sensitive time.

DISCLAIMER ALERT: I am not an attorney or CPA. Please consult with your attorney before taking any legal or financial advice.