ate mortgage avoid foreclosure
Get Out From Under a Late Mortgage
What are my options?
People fall behind on their mortgage for many different reasons, including a death in the family, job loss, or divorce.
You’re not alone. According to the FDIC, 250,000 new families enter foreclosure every three months. Many people never contact their lender for help, either out of embarrassment or because they fear that reaching out for help would cause them to lose their home even quicker.
1: Repayment Plan
2: Reinstatement and Forbearance
3: Mortgage Modification
5: Sell The Home
Selling the home is an option many homeowners who have defaulted on their loan don’t know much about. One sure way to avoid foreclosure is to sell the home and make enough to pay back the missed mortgage payments along with any accrued fees. The house will no longer be yours, but you avoid any further damage to your credit and get the chance to start fresh.
If you decide to sell, tell your lender you plan to sell the property to pay off the mortgage. Work with your lender to postpone a foreclosure of short sale while you sell the house.
Up until the home is sold at auction, you can rescue your home by selling it and paying the lender everything you owe, including back payments and penalties.
Avoid Foreclosure at All Costs!
The threat of foreclosure is scary, and some people believe it’s easier to just walk away from the home rather than going through the process. This is one of the worst things you can do.
A foreclosure will negatively impact your credit score. This will make it difficult to obtain rental housing, credit cards, and loans. The foreclosure will remain on your credit report for seven years, and has the potential to affect your life the entire time.
Integrity First Home Buyers can help! We will buy your home for cash, so you can be relieved of your remaining mortgage debt.
- Fast, fair cash-offer for your home
- No repairs needed; we buy homes as-is
- Potential relocation cash assistance