Stop Foreclosure & Protect Your Credit

How to Stop Foreclosure

Contact the Lender

In order to avoid foreclosure, the first step is always to contact the lender and let them know your situation. In many cases, they can work with you to temporarily modify payment terms until your situation is resolved.

Do not ever ignore late notices or calls from your lender. They really would prefer to work with you to resolve any problems, but will not hesitate to begin foreclosure proceedings if you appear unwilling to work with them.

Refinance Your Home Loan

If you are still up to date on your payments, or not too far behind, refinancing may be a viable option for you. Refinancing will pay off your current mortgage and in many cases lower your monthly payment at the same time. It can be the most straightforward method to avoid foreclosure. Call us to find out if there are new options available to you under the current laws.

Can I stop foreclosure by selling my house?

Most often, yes, selling your home will usually avoid foreclosure and more importantly, protect your credit. This may be an unwanted route to stopping foreclosure, however, it may be the only way to prevent a blow to your credit record. If you need to sell fast, there are home buyers in your area who will allow you to do that. We can help you sell and close quickly, or on whatever timetable fits your schedule, and allow you to walk away with cash at closing. Be careful to check out anyone you choose to work with as there are people who will use this opportunity to make a profit for themselves at your expense.

Protect Your Credit

Ultimately, protecting your credit must be your number one goal. Your credit report will be with you for the rest of your life, and having a foreclosure noted on it will cause problems for many, many years down the road — problems that only time will erase. Take steps now to keep that from happening. It may be difficult in the short-term, but the long-term results far outweigh the alternative.