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If you're facing foreclosure, it's important to know that there many options available to you. Here are a few to consider:
- Conventional Home Sale - If you have equity in your home, this may be the best option for you. However, if you owe more than what your home is worth, a regular sale may not be feasible.
- Short Sale - This could be your best option, especially if you owe more than what your home is worth.
- Refinance/Loan Modification - Due to recent acts like the Making Home Affordable plan announced by Congress, it may be possible to refinance your home or apply for a loan modification.
- Negotiate a Forbearance - Your lender may agree to let you reduce your monthly payment or even delay your monthly mortgage payments for a short period of time. You will have to provide proof of hardship to the lender.
- Deed in Lieu of Foreclosure - This is a process in which you give away your property to the lender and the lender then turns around and sells off the property in order to retrieve a part or whole of the loan balance you owe.
- Do Nothing - This really shouldn't be an option because as outlined above, there are other ways to get out from being upside down on your mortgage. Doing nothing can do more damage than good. We are here to help!
Get the help you need right now by filling out the form on this page and visit the "Get Started" page.
If you find yourself in this situation of being upside down on your mortgage, fill out the form on this page and one of our specialists will contact you.
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