Avoid Foreclosure
Even if You Cannot Save Your Home
Customer Service - Help Center
If
you have exhausted every possibility of working with your lender
and refinancing is not an option, you may still be able to avoid
foreclosure even if you cannot save your home. It might be prudent
to consider a pre-foreclosure sale. Selling your property fast for less than the amount you need
to pay off your mortgage could be advantageous, since you will avoid
the detrimental effects of a foreclosure on your credit report.
You would still be responsible for the deficiency between the sale
amount and the amount due on your mortgage, but you would save on
costly legal feels you will be assessed by your lender if foreclosure
occurs.
Alternatively, your lender may accept a deed-in-lieu of
foreclosure, in which you would return your property voluntarily
with the advantage of avoiding foreclosure, but this is rare.
Filing
for chapter 7 or chapter 13 bankruptcies may also prevent foreclosure,
but should be carefully considered and treated as truly a last resort.
Consult with both your attorney and your lender before bankruptcy,
as your decision will affect your financial future drastically.
If you’d like us to have a professional contact you regarding
your situation click here to complete a short form Please make sure you put
your notes in detail.
Preparations Make the Difference CLICK on a Topic to Learn More Additional resources will appear on related pages
Thinking about Options Speak to a licensed financial expert to learn what your options
are even though you are faced with foreclosure. Our service is discrete and friendly.
