Facing Foreclosure?
Question:
Answer:
When facing foreclosure, there are many things you can do. I run the Foreclosure Relief Service, and we specialize in showing you all of your options, and protecting your asset as long as possible, as well as working to protect or salvage your credit. I have over 10 years of experience in foreclosures. The best options will be determined based on your current situation, but there are a lot of ways to keep your property still, as well as a pool of investors if you are looking to sell, or make some money off of it still.
Some include:
Forbearance plans 3-24 mo
Reinstatement
Partial Claims
Short Sale
Short Pay
Modification
Sell, then buy back through lease option
if you want to chat more about it, feel free to email me.
First thing I would suggest is having a heart to heart with your lender. A Mortgage co. would rather you keep your home than default. They can work with you if you tell them whats going on.
If you facing foreclosure in Canada. Feel free to contact me. I may be able to help you. niderholdings@yahoo.ca
Sell prior to trouble...Find a buyer if your amount is less then value of property..You save you credit from disaster,and still can get in position to buy again..I do just this in the area i live..I make out and help save seller from future credit problems
Sell Sell Sell . The more time your house is on the market the more likely it will sell . Inform the bank you are in the process they will cut you a little slack as they do not want a buy back. Find yourself a good agent and avoid the foreclosure.
I would sell the property ASAP. Talk to the bank about a short sale. Atleast it will avoid forclosure and not destroy your credit. If you can not find a buyer in a short period of time then speak to the lender and explain your situation.
Why are you facing foreclosure? If you can't make payments, then sell of course.
If you missed a couple of months, but can pay now, talk to the lender. They may loan you the amount due, and have you pay it off a little each month.
If you can't find a buyer, then ask if you can't sign the property back to them. You will loose your equity, but can save you credit rating, if it isn't trashed already.
Good luck.
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