As a homeowner, you never want to consider the harsh reality that your lender is a capable of taking your property.
If you fall behind on mortgage payments, regardless of the reason, they have right to do exactly that.
Here are your Options:
1. Loan Modification:
A permanent restructuring of the mortgage where one or more of the terms of a borrower’s loan are changed to provide a more affordable payment. This option has a 10% successful rate. Most loan modification place the borrower in a worse position, than they were prior to the loan modification.
2. Short Sale
Any sale of real estate that generates proceeds that are less than the amount owed on the property. Selling the property for less than what you owe, will only satisfy the lender and benefit the new buyer. You, the homeowner, will walk away ZERO money going with this option.
3. Bankruptcy
Filing bankruptcy will block the ability to borrow money or use any credit cards, or renting a house or apartment. This option only delays the foreclosure, not a permanent solution. Interest, late fees, and attorney fees will continue to accrue during your bankruptcy. THIS IS YOUR WORST OPTION.
4. Sell it for CASH
We can Pay CASH and close quickly. This option will stop the harassing phone calls from banks and attorneys. This is the #1 option to SAVE YOUR CREDIT while allowing you to buy another home. We can give you a fair cash offer in 24-hours.
5. Cash for Keys / Take Over Payment Program – (Best & Most Popular option)
Receive cash in exchange for surrendering the keys and vacating the property. We reinstate your loan, take over your payments, and put CASH in your pocket. This option will drastically improve your credit score.