People get behind on their mortgage payments for different reasons. Whether you’re dealing with an illness (you or a family member), divorce, job loss, or other unexpected financial stress, you have options. The best thing to do is to deal directly with the situation. Don’t ignore it or hope the problem will just go away. For starters, try to stop the foreclosure process by contacting your lender. They may have options to help you get back on track. You can ask them about forbearance (temporary relief from making payments) or longer-term modifications to the mortgage that make it easier to stay in the house.
Other Options to Stop Foreclosure in Hampton Roads
Yes, you can file for bankruptcy as a way to delay the foreclosure process, but that’s just a temporary solution. You can also try to sell your property to stop foreclosure, but a common challenge with that is that it can take a long time if you use a real estate agent, not to mention that you might be facing more costs and delays if the house needs repairs.
Another option for stopping foreclosure is to sell to a house-buying company like ours. The advantages of this approach are that we can potentially pay off your mortgage quickly so that you don’t end up with a foreclosure on your credit report, and hopefully you’ll walk away with cash that you can use to start fresh.
We’ve helped many homeowners in your position, and we want to work with you to help you stop your foreclosure and get a fresh start. Contact us today!