Below we have the main question people ask when looking at a foreclosure situation:
Q: What are my options when it comes to a foreclosure?
A:
Missed Payment: If you have not missed a payment but plan to soon call the lender and see what options
they have
B: Forbearance: See if the lender can agree to put the amount you are behind into
a repayment plan.
C. Deed in Lieu: Deed the property back to the lender is not a reccommended
Answer to your problem even though the lender may suggest it.
D. Chapter 13 Bankruptcy: Will temporarily stop the foreclosure but may not stop
it down the road and it will destroy your credit and will also cost you more money for an attorney to file and manage the
bankruptcy.
E. List the Property for Sale with a Realtor: Time is your enemy and if the realtor
is not willing to "GUARANTEE IN WRITING" that they will buy the property if after "X" amount of time they do not sell
your property. If they can not do that you may want to go in a different direction.
