Your Options

The foreclosure process can be complicated and difficult to navigate, even for real estate professionals. If you are in or near foreclosure, you do have options. Listed below are a number of options you may be aware of, with a listing of their benefits and drawbacks. Some of these options might not be in your best interest. Let us help you arrive upon the best possible solution to your unique situation. Don't wait another day! CLICK HERE for our rapid response form. We will get in touch with you as quickly as possible!

Refinancing:

Pros:

  • Make up your back payments

  • Start fresh with a new loan

  • Stop the foreclosure

  • Credit back on track

Cons:

  • Back payments prevent a refinance

  • Higher interest rate which means higher payment

  • Mortgage broker may not get it done in time

Click here to learn more about refinancing

Negotiating a Workout or Forbearance:

Pros:

  • Stops the foreclosure

  • Chance to get back on track

  • Stay in your home

 

Cons:

  • Large down payment to lender

  • Monthly payment can go up significantly

  • Still reflects on your credit

  • 1 missed payment and the lender can foreclose

Click here to learn more about a workout

Sell Your House:

Pros:

  • Avoid the foreclosure

  • No more late marks on your credit

  • Fresh start

  • Cash to start over

  • Peace of mind

  • It's all behind you

  • We may buy your house before the foreclosure, EVEN if you have no equity!

 

Cons:

  • You may have to move - but we can help you do that.

 

 

Click here to learn more about selling your house

Bankruptcy:

Pros:

  • Postpones the foreclosure

  • Stay in the house (temporarily)

  • Possible payment arrangement

 

Cons:

  • On your credit for many years

  • Lender may still be able to foreclose - this may only be a temporary fix

  • Must pay an attorney

  • Continued stress in your life

  • Possible Bankruptcy AND Foreclosure on your credit!

 

IMPORTANT NOTE:
Please consult a qualified and trusted bankruptcy attorney if this is a route you want to investigate. In our opinion, this is only a postponement of losing your house, and an addition of bankruptcy on your credit. We have witnessed many people still lose their home after filing bankruptcy.