5 Ways To Stop Foreclosure On Your Property
Going through a foreclosure is a tough situation to be in. It could be embarrassing knowing that your family and friends, the ones you love, know you’re in a position of struggle. You are not alone! Many household face difficult situations that leads to foreclosure of a home. Below are steps you can take to stop foreclosure on your home.
Speak with your mortgage lender and renegotiate the terms on your loan. Let your lender know about the current situation that caused or is causing you to miss payments. More often than not, they are willing to renegotiate if you have a great reason behind the missed payments.
Sell The House
As hard as it is, we need to be realistic. If you know you can no longer make the payments for your home and a loan modification is not an option, you need to sell vs letting it foreclose on your name. Selling your property to investors such as Bold Offers, we are able to help you get a quick cash offer and help you start over. Versus letting it go, you will have a foreclosure under your name for the next 7 to 10 years which would make it harder to start over.
Make a list and gather everything you can sell to help payoff the delinquency. If its important to keep the home, sell the car, the tv, furniture, anything! Let go of things that are costing you money monthly.
Speak With An Attorney
Lawyers may be able to help you extend the time you have before your house forecloses. At times they might be able to stop the process all together. If you options are thin, contact a real estate attorney for options. Here at Bold Offers, we work side by side with attorneys to find options tailored to your situation.
Rent Out Your Home
Renting out your house might be another option that could stop the foreclosure. The tenants will be able to keep up with the mortgage payments.
No matter what your situation is, we at Bold Offers have the solution. Together we will find a way fight the banks from taking your property.