What options do I have to keep my home from foreclosure when I have missed a payment?
Thu Aug 9 2007, 09:46 - All locations - Foreclosure - 6 answers
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Brilliant, brilliant, brilliant!!!! Do you answer questions that are not your own?
Fri Aug 10 2007, 01:06
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Hi Charity,
If you have missed “a” mortgage payment, then you have plenty of time to catch up before foreclosure begins, as I think it occurs after 90 days. Melissa Mancini, Realtor, CBR, GRI Thu Aug 9 2007, 21:14 Web Reference: http://MelissaBMancini.com
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Charity, I am confused? You posted a question..then answered it yourself?
Thu Aug 9 2007, 17:21 Web Reference: http://activerain.com/blogsview/125091/How-The-Foreclos...
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You have a few options.....have you missed a payment due to employment? The first thing is to communicate with your lender about your situation. Perhaps they can extend your payments out or allow partials for a prescribed peiord of time. Will you be able to make future payments? Renting it out can be an option. Short Sale if there is not equity and you can prove hardship. Deed in lieu of forclosure. the main thing is to communicate immediately with your lender.
Thu Aug 9 2007, 13:36 Web Reference: http://pamwinterbauer.com
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FIRST ANSWER
Move quickly and talk with the lender to see what options they have for you. Then talk with your real estate agent for additional options.
Good Luck!! Thu Aug 9 2007, 10:17
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You have several option: do a short sale,rent it out,participate in a buy back lease program,or an assume mortgage program.But please know in any of these situations time ie of the essence you have to move quick and with purpose.
Thu Aug 9 2007, 09:50
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