If you are facing a potential foreclosure, there are a few options at your disposal.

 

1. Communication -  Talk to your bank or lender. The last thing they want is to foreclose. They may be willing to make an agreement with you. In the end, they just want the money they loaned you. This can be in the form of loan modification or forbearance.

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2. Loan Modification - There are many different ways lenders may modify the terms of your loan. You can get a loan extension, a re-amortization or a decrease in interest payments. As long as you and your lender agree to the terms it is a legal remedy that can keep a foreclosure off your credit report.

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3. Forbearance – This is when you get your payments reduced or suspended for a period of time.

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4. Selling your home – This may be your best option. As long as the foreclosure process has not gone too far, you can sell your house. This can be done by listing with a real estate agent or by selling to an investor like Free Property Group.
Selling to an investor can help you get cash quickly to prevent a foreclosure and you will not be required to make any repairs or upgrades to the home. You can generally close within a week or two. 

 

If you are facing foreclosure, time is not on your side. The longer you wait the more money it will cost you. Don’t allow this situation to hurt you or your credit. Call Free Property Group as soon as you can. We may be able to help you save your home or to make you a cash offer. 

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There is no obligation. Call today and we can set up a FREE onsite consultation, 440.940.4042.