Are you no longer able to afford your home? Are you behind on your mortgage payments? Are you unable to sell your home for a price that covers the remaining balance of your mortgage? If the answer to these questions is yes, then your home may be in jeopardy of foreclosure. You are on the verge of losing one of the biggest accomplishments you have worked so hard to achieve. Learning Ways to avoid foreclosure is the best option to ensure your lender does not file a judgment against you or pursue you for defaulting on your mortgage loan.
One of the best ways of avoiding foreclosure is by short selling your home. Short sales involve selling your home for less than the remaining balance on your mortgage. Your mortgage company must agree to a short sell of your home then you can sell house cash and use the proceeds to pay off all or a portion of your remaining balance. Short selling your home allows you to resolve your payment issues with your lender as opposed to avoiding the problem and hoping it will go away. Unfortunately, using this method will lower your credit score significantly, leave you without a home, and leave you with no profit from the sale. Foreclosures are expensive and time consuming for lenders. You can learn about the short sale and foreclosure process by working with government programs, such as the Making Home Affordable Program, Home Affordable Refinance Program, Principal Reduction Alternative, and Second Lien Modification Program. Working with a program that specializes in saving homes will help you fully understand what is involved in the foreclosure process.
Owning a home is a dream that you work tirelessly to achieve. However, that dream can quickly turn into a nightmare if you can no longer afford to make payments on your home. A short sale is the best way to avoid foreclosure of your home and financial ruin. Whether you are faced with long-term hardship or you are ineligible to refinance or modify your mortgage, short selling your home is the easiest and quickest way to keep your finances intact and avoid further heartache.