Foreclosure - What It Really Means & How to Avoid It
9 Ways to Avoid Foreclosure
REINSTATEMENT: Bring the loan current
FOREBEARANCE: Temporary repayment plan
REFINANCE: New loan with reduction in monthly payments
LOAN MODIFICATION: Modify original loan terms
SELL THE PROPERTY: Use equity to pay off or pay difference
RENT THE PROPERTY: Must make loan current
SHORT SALE: Negotiate with bank to accept sale under loan amount
DEED IN LIEU OF FORECLOSURE: "friendly foreclosure"
BANKRUPTCY: Will stall foreclosure but not prevent it
THERE IS A HUGE DIFFERENCE BETWEEN LIFE AFTER FORECLOSURE AND LIFE WITHOUT FORECLOSURE!
Allow me to be your advocate!
Judy Spear, CDPE 720-771-6075