2007-12-18 18:31:59 · 11 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Pay the mortgage
2007-12-18 18:33:50 · answer #1 · answered by Anonymous · 0⤊ 2⤋
1. Save up money and pay back the amount you're behind.
2. Establish a repayment plan.
3. Work with the lender to modify the loan.
4. Refinance with a hard money or foreclosure lender.
5. Get a partial claim from the FHA.
6. Sell to a private investor and lease the property back.
7. File bankruptcy to stop foreclosure.
8. Sell at a short sale.
9. Sell the property outright.
10. Give the property back with a deed in lieu.
11. Just walk away from the property and start fresh.
Hope that helps.
ForeclosureFish
2007-12-19 10:42:13 · answer #2 · answered by Anonymous · 0⤊ 0⤋
filing bankrupcy, from what I've heard, puts a halt to the foreclosure process.
Other than that, read the blogs, and all the information you can to keep on top of the general situation. Become a student of the sitiuation that is evolving. Invest hours. This way you can make the most prudent choice for your circumstances.
It's tough out there, good luck.
2007-12-19 02:36:42 · answer #3 · answered by AntiDisEstablishmentTarianism 3 · 0⤊ 0⤋
Call your lender they do not want you home. Ask them to put you in a low interest around 5-6% long term 30 year mortgage. Let them know that this must be done or they will get the house back. Send them a letter in your own hand writing about your income ( it may have changed) and all of you expenses. They would rather you keep your home. And by all means please call an attorney for you own protection.
2007-12-19 04:57:50 · answer #4 · answered by Big Deal Maker 7 · 0⤊ 0⤋
Talk to your lender. They may help you out by adding the missed payments to the tail end of the mortgage. They might even forgive some of the mortgage. Lots of "maybes" with lenders. Talk, ask, talk some more.
Another avenue these days might be a call to your congressman or senator. Ask if they know of any government programs to help a voter who's facing forclosure. A year ago, this might not have worked, but this is today.
2007-12-19 03:11:55 · answer #5 · answered by going_for_baroque 7 · 0⤊ 0⤋
Other than paying your bills, you need to work with your lender to resolve the issue. And remember that this situation will not get better with time. You need to take action now or you will be living out of a box in a few months. There are many social service agencies that can help you, you just need to look in your area for who can help.
2007-12-19 02:41:31 · answer #6 · answered by catinthehat99 3 · 0⤊ 0⤋
Call your lender and be upfront and honest. So many ppl are going thru this right now. If they foreclose they will lose money. It is in their best interest to work with you. Just hang in there and hopefully there will be a way you can work it out.
I was not as fortunate....but I didn't call the bank - too embarrassed! So please take it from me, I have learned now that they would have worked with me.....Good luck!!!!!!
2007-12-19 02:36:25 · answer #7 · answered by ? 5 · 1⤊ 0⤋
ask your lender for a repayment plan or a loan modification
2007-12-19 02:58:25 · answer #8 · answered by tee tee 1 · 0⤊ 0⤋
Pay the bill
2007-12-19 02:34:37 · answer #9 · answered by Andrew 3 · 0⤊ 2⤋
Pay what you owe.
2007-12-19 02:34:19 · answer #10 · answered by Organized Chaos 1 · 0⤊ 2⤋