How can I avoid foreclosure?
There are several ways to avoid foreclosure. The most popular strategies are:
- Loan modification
- Short sale
- Sell your house
If you are a homeowner in default, the bank will eventually get paid, since your house securitizes their loan. All of the above options are the best options to avoid foreclosure and minimize damage to your credit.
Although there are ways to stall out the foreclosure process, the homeowner might have a harder time avoiding foreclosure if the bank perceives them as uncooperative.
If you have any further questions about foreclosure, please contact us.