5 Simple Steps to Stop Foreclosure.

Before considering options on how to stop a foreclosure sale, you should first identify your ultimate goal.  Do you want to keep your home or do you just want to be done with it, put it up for sale and walk away?

 

If you want to keep your home here are 5 simple steps.

 

1. Call your bank when you first know you are going to miss a payment.  Don't wait until you are several months behind.

2. Immediately ask your lender what type of federal loan modification programs are available to help you.  Your bank may also have several in-house options.

3. Make sure you make copies of everything you send your lender.  You undoubtedly will find it necessary to send the same documents over and over.  If you can scan them and store them electronically all the better.

4. If your lender turns down your loan modification application, immediately ask them what are the appeal process steps.  Appeal immediately.

5. If you are turned down multiple times and your lender is moving towards foreclosure, bring out the big guns.  Hire an attorney to file a wrongful foreclosure lawsuit or consider filing for bankruptcy.

 

If you just want to be done with it and walk away. 

 

You should consider a deed in lieu of foreclosure or a short sale. For a deed in lieu, contact our office at (281) 397-3703.  If you are interested in a short sale, try finding an unbelievable agent at Short Sale Super Stars. Using a real estate agent who understands the short sale process is extremely important. 

 

Unsure what to do?  Call us at (281) 397-3703. We are here to help.