At Foreclosure Cure, we look at every option available to you to stay in your home. The following are the most common options available:
- Forbearance - Commonly used when you have the ability to make payments, but do not have enough funds available to fully reinstate your loan. Typically the foreclosure is placed on hold after you execute an agreement with your lender specifying modified monthly payments until your default is resolved. Once resolved, the foreclosure action is canceled.
- Modification - Depending on what type of loan you have, there may be options available to reduce your monthly payment without going through a refinance
- Short Sale - If you absolutely must sell your home but your value is lower than your pay off amount, we can assist you with negotiating a short sale with your lender. This can keep a foreclosure off your credit report and in some instances, avoid any deficiency judgments that could potentially occur after your home is auctioned.
- Deed-in-lieu - This basically gives the property back to your lender without going through a foreclosure.
These are just a few options available to help you resolve your foreclosure. There may also be other options available to you depending on your situation and what type of loan you have. We can advise you of these options. Call us now to discuss your situation and we can determine a workout plan that will meet your lender's and your needs.