Avoid Foreclosure

 There are only a handful of ways to avoid foreclosure. I will list the most common options below.

Home Retention:

• Reinstatement – This is where you simply catch up what you are behind. You can do this prior to a foreclosure sale date.
• Repayment Plan – Typically this is an option prior to foreclosure being started.
• Loan Modification- The most common solution for people who are in foreclosure. This will bring the account current and may adjust other terms of the loan. This will depend on the income of the borrowers, the LTV of the property, and the current loan terms, as well as the investor guidelines.
• Bankruptcy Ch 13 – This is a repayment plan through the courts.

Loss Mitigation:

• Short Sale – Sale of a property with no equity to reduce a borrowers liabilities. 
• Standard Sale – Payoff of the note in full
• Mortgage Settlement – A rare option for 1st liens, but possible for underwater subordinate mortgages.

If you need foreclosure avoidance help or have questions, please fill out the form below or call 1-800-692-9960 and a specialist will be in touch with you shortly.