how can I prevent foreclosure and save my home?
Sep 02, 2009 in
Financial and Loan Tips
dunkindonut20
Is there any way to save my house from foreclosure.
Is there any way to save my house from foreclosure.
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7 comments
junebug on September 3, 2009 at 11:45 pm
contact the mortgage company and try and work with them.
scarp222 on September 6, 2009 at 6:19 am
Filing for bankruptcy will stop the foreclosure process and by you some time. You will have to still come up with money to payoff what you owe but it will give you more time. Bankruptcy, Chapter 13 will help you set up payment plans.
catherine s on September 7, 2009 at 5:53 pm
Refinance? Contact a bank or mortgage broker and see what they can do for you. Contact me if you are in Utah. I have resources you can call on for extra info.
theonlytufrose on September 8, 2009 at 3:22 pm
Try to work with your mortgage company on paying all the late fees and then don’t let them fall behind again.
haygirlc on September 9, 2009 at 2:12 pm
I agree. Don’t wait until the sale date is set. If you can’t afford the home start calling the bank now. The loss departments are very busy. Try to work out a reduced payment, extension on your adjustable loan, etc. See what they offer you as an alternative.
If you have equity in the home put it on the market! Far better to sell the home and profit little or nothing than to have a foreclosure on your credit. If you have the home listed for sale and under contract, this will help you get leniency from the bank.
Landlord on September 13, 2009 at 12:51 am
Keep your word and pay it as you agreed.
foreclosurefish_com on September 16, 2009 at 12:30 pm
You have numerous options to save your home. Here are the most common ones used by homeowners, although not every one is going to apply in every case.
- Save up and get current.
- Work with the lender for a forbearance agreement.
- Work with the lender for a loan modification.
- Refinance with a hard money lender.
- Get a partial claim if you have an FHA loan.
- Sell to a private investor and lease back the house.
- File bankruptcy to stop foreclosure
- Sell at a short sale.
- Sell the property outright.
- Offer the bank a deed in lieu of foreclosure.
- Just walk away and start over.
Research each of the options before jumping right into one or another. You don’t know which ones might be best for you until you know how they work.
Good luck.
ForeclosureFish