
1. Restructure
We can negotiate with your lender to get your loan in good standing again. There are many options available to us to get a restructure approved like a separate payment plan for your delinquency or even adding the delinquency to the end of your loan. Sometimes we can even lower your monthly payment!
2. Sell Your Home
You may simply sell your home before the Foreclosure Sale Date. Sometimes the home owner is unable to sell the home outright at the desired sale price and this is not an option.
3. Short Sell
We may be able to negotiate a Short Sale on your behalf with your lender(s). In this instance the lender may take less than what you owe on the loan to avoid a lengthy and costly foreclosure process.
4. Deed-In-Lieu of Foreclosure
We can arrange for you to simply give the home back to the lender and walk away with a clean slate.
5. Bankruptcy
This is a last resort. This will only save your home temporarily. If you miss one payment during this process the lender will put you right back into foreclosure.
6. Foreclosure
You may elect to allow the home to be entered into mortgage foreclosure. This is the most damaging to you. The lender will take your home and all your equity. If there is no equity, your lender may get a deficiency judgment against you and come after you to repay the shortage or “deficiency”. This is the most damaging to your credit and your ability to acquire another home loan. |