How to stop foreclosure?

How To Stop Foreclosure?


If you're behind on your mortgage payments with a foreclosure ahead, these are your options:

Reinstate Your Loan


You can request the reinstatement amount from your Trustee or your mortgage company. The total amount due will include the missed mortgage payments, interest and fees, and the attorney's fees. Most of the time, once you are in foreclosure, you cannot make partial payments; you must pay in full.




Apply For A Loan Modification


If you are in foreclosure, contact your bank immediately. If the bank agrees to a loan modification, you and your bank will negotiate the new terms of your loan. This may involve an increase in the interest rate, an extension of the final loan payment, changing to a new type of loan, or a combination of these options. This will most likely increase your monthly mortgage payment.


File For Bankruptcy

​

There are two types of bankruptcy specific to being in foreclosure. Some homeowners may choose to file Chapter 13 bankruptcy, which involves hiring an attorney who will restructure your debts, including your mortgage to be paid over the next few years. Your new monthly payment will typically include your mortgage, unpaid interest and fees, and attorney's fees. Most of the time this payment will be higher than the original mortgage payment. Also, filing for bankruptcy damages your credit for the next 7 to 10 years, making it difficult to purchase vehicles, buy another home or apply for student loans.

Apply for homeowner's assistance

Apply

Utilize Our Services


The first is a unique program where we help you figure out how to keep and save your home.

The second if we can't help you, is to buy your house and give you time to find another place. Both of these options cancel the foreclosure and your credit begins recovering immediately. Hooray!

Our team will contact you by phone and email to review your options and learn more about your unique situation. 

We look forward to working with you.

Contact Us

Share by: