How to Stop Foreclosures?
There are several ways to stop a foreclosure process. The first and the important step is that don’t let your lender start the foreclosure process no matter why you have missed a payment. Contact with them and explain the situation. In most of cases, lender came to an arrangement with the client without actually starting a foreclosure process. Here are possible solutions, • Reinstatement Plan • Repayment Plan • Loan Modification • Loan Refinance • Loan Forbearance • Partial Claim • Pre-Foreclosure Sale • Short Sale • Deed-in-lieu of Foreclosure Most of people go for Short Sale however that comes with extra cost as well. I have also come to notice that some people are trying to play some trick with Federal Consolidation Loan. However I don’t have much information about that and will try to find more information to post it here. Related posts: • Multiple Home Foreclosures If you own more than one home and are facing…
