Struggling with foreclosure?
Worried about your financial future?
When facing foreclosure, seeking help is crucial to navigate the complex process and explore potential options for saving your home or mitigating financial damage. We provide you with free, expert advice on your unique situation. We’ll fight for your rights, negotiate with the bank, and ultimately save your home.
What are your options?
Deed in lieu of foreclosure:
With a deed in lieu, you simply give the property back to the bank and move out. The deed in lieu is less costly for the lender than a foreclosure, so the lender may be agreeable to accepting the deed in lieu.
In most cases, the lender will agree to forgive the balance on the loan if the property is worth less than you owe.
Loan modification:
A loan modification is a permanent adjustment to the terms of your mortgage, essentially rewriting the original loan contract. Lenders can modify a loan in several ways to make payments more manageable such as lowering the interest rate, extending the loan term, reducing the principal balance or adding past-due amounts to the loan balance.
Forbearance:
Forbearance is when your mortgage servicer or lender allows you to temporarily pause or reduce your mortgage payments for a limited time while you build back your finances.
Forbearance doesn’t mean your payments are forgiven or erased. You are still obligated to repay any missed payments.
Short sale:
A short sale is when a mortgage lender agrees to accept a mortgage payoff that’s less than the outstanding balance, to facilitate a sale of the property. The lender forgives the owner who is in financial distress the remaining balance of the loan.
This generally happens when a home’s value has declined and the mortgage holder owes more than the home is worth, putting them in a state of negative equity.
What you need to know
- Don’t give money to anyone
- You don’t need an attorney
- Do not sign your deed over
- Do not leave your house
Set Up Your Confidential Meeting