Options for Homeowners to Avoid Foreclosure

Going through foreclosure can be an unsettling experience for most homeowners. A distressed homeowner should always make sure that they have explored every option available to save their homes. In today's challenging economic times there are multiple options available to the homeowners.

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A homeowner can request the total amount owed to bring mortgage payments current and pay it.


Forbearance or Repayment Plan

Homeowners can negotiate with the mortgage company to allow them to repay back payments over a period of time


Sell the Property

Homeowners with sufficient equity lists their property with a qualified CDPE agent that understands the foreclosure process in their area


Rent The Property

Homeowners with a mortgage payment low enough then market rent will allow it to be paid can convert their property into a rental


Mortgage or Loan Modification

Homeowners can negotiate with the lender to modify the interest on the loan, or principal balance or any combination of these, resulting in a lower payment


Short Refi

Homeowner can negotiates with lender to refinance a mortgage for less than what is owed on the property


Deed-in-Lieu of Foreclosure

Homeowners can return the property to the lender rather than go through the foreclosure process


Deed For Lease

Homeowners can return the property that is FHA-insured back to the lender and leases the property for a twelve month period



Homeowners with SIgnificant equity in their properties and good credit standing can refinance their mortgages



Homeowners with significant non-mortgage debt and who is unable to pay these debts or his/her mortgage payments can file for bankruptcy which liquidates assets and/or reorganizes debt to pay back creditors


Servicemembers Civil Relief Act

A member of the military who is experiencing financial distress due to deployment (and can prove entered into debt before employment) qualifies for temporary relief under this act.


Homeowners Assistance Program

A member of the military or federal employee qualifies for this program which has a variety of assistance programs including private sales, government purchase, and/or foreclosure assistance


Short Sale

Homeowners have financial hardship and qualify for a sales transaction where the lender is willing to accept the payoff or a mortgage for less than what is owed.


The Prospect of a looming foreclosure and losing one's home is a very daunting and stressful experience. Distressed Homeowners should seek out the counsel of individuals that are specifically trained to render assistance and provide direction. Our Foreclosure Prevention Advocates can help you with a FREE and no obligation consultation.


For a free report on the topic please fill out the form on this page or call our Foreclosure Prevention Hotline: 1-855-957-2205 and enter ID 2001. Remember 'Foreclosure is not the only option'.


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