3 Ways to Stop the Foreclosure Process
Check out the options
All is not lost once you get a notice of default! You still have some alternatives to stop the foreclosure process.
1. Foreclosure Workout.
Up until the time your home is scheduled for auction, most lenders would rather work out a compromise that would allow you to get back on track with your mortgage than take your home in a foreclosure.
2. Short Sale.
After your lender files an NOD but before they schedule an auction, if you get an offer from a buyer, your lender must consider it. If they foreclose on your home, the lender is going to simply turn around and try to resell it; if you present them with a reasonable short sale offer, they may see it as saving them the time, effort and trouble of finding a qualified buyer. Contact us for a no obligation offer.
We Can Help With Any Situation. Call Us Today!
Bankruptcy stops foreclosure dead in its tracks. Once you file a bankruptcy petition, federal law prohibits any debt collectors, including your mortgage lender, from continuing collection activities. But here’s the catch; once you get to court, the bankruptcy trustee’s role is simply to play referee or mediator between you and your creditors. It doesn’t let you off the hook for your debts. This is where we can help figure out the best options for you.