HOW TO STOP FORECLOSURE

Contact the Lender

Absolutely the first step to avoid foreclosure is to contact the lender and let them know your situation. In many cases, they can work with you to temporarily modify payment terms until your situation is resolved. If you are have received a Notice of Default the is one of the first steps in the lender's foreclosure process. If you wish to sell your home, we can speak directly with your lender on your behalf and take measures to improve your current situation. Never, ever ignore late notices, letters or calls from your lender. They would much prefer to work together with you to resolve the situation, but will not hesitate to begin foreclosure proceedings if it appears that you are unwilling to work with them to avoid foreclosure.

Refinance Your Mortgage

If you're still current on your payments, or not too far behind, refinancing may be a viable option for you. Refinancing will pay off your current mortgage and in many cases lower your monthly payment at the same time. It can be the most straightforward method to avoid foreclosure. Please email us if you would like assistance with refinance options.

Sell Your House

This may be the toughest route to stopping foreclosure, particularly if you still need somewhere to live, but it may be the only way to stay out of trouble and prevent negative ramifications regarding your credit record. If you need to sell fast, it is very likely we can buy your house and close in 7 days or less (by filling out our Fast Offer Form), or on whatever timetable fits your schedule, and allow you to walk away with cash at closing. In addition, we offer multiple other ways to allow you to sell your house fast depending on your particular situation; please contact us to review your options.

Proceed with Caution

Be very, very careful, though. There is no shortage of people who will use this opportunity to make a profit for themselves at your expense. Be cautious of the "We Buy Houses" types or other fly-by-night operators. We know that if you are in foreclosure you are likely receiving dozens, if not more, letters and postcards from "investors" stating they can "help you out of your situation." Ask yourself these important questions, 1) are they licensed by the Department of Real Estate, 2) Are they a REALTOR®, 3) are they local, 4) are they members of the Better Business Bureau in good standing, 5) have they been in the area long, 6) what is their level of eduation, qualification, training, and expertise, and perhaps most important, 7) do you feel comfortable with them?
If you are not comfortable with the answer to each of these questions you should pursue other options to avoid making matters worse!

Protect Your Credit

Ultimately, protecting your credit must be your number one goal. Your credit report will be with you for the rest of your life, and having a foreclosure noted on it will cause problems for many, many years down the road — problems that only time will erase. Take steps now to keep that from happening. It may be difficult in the short-term, but the long-term results far outweigh the alternative.