Diane:
I would suggest that you contact your lender ASAP and let them know your willingness to help them. If you haven't already llost the home at the foreclosure sale, there may be time for you to do a quick sale at a bargain-basement price, still leaving enough of course to satisfy the lien and hopefully put some equity in your pocket.

One thing is certain, the lender doesn't want the home back but unless you communicate your willingness to make some concessions in exchange for a little more time to allow you to sell, they will go ahead and sell it at the courthouse steps as scheduled.

In this situation, I can't stress enough the importance of communicating clearly and honestly with the lender, your intent and realistic solution to avoid the foreclosure process. Unfortunately, it's not all about you so I don't recommend your primary reason for any extension to be so that you can receive some of your equity. They won't want to hear that, but they might be open to an extension of time if you drastically reduce the price and try to get it sold to help both you and them. Hope this helps. - Steve

Contact the local CCCS They can help reset your debt. http://www.cccsatl.org/

They are a non profit agency that help you with real solutions.

Hi Diane. I would suggest that you request of the lender to give you more time. My recommendation would be that you are super nice to the loss mitigator. A lot of people who are facing foreclosure, let out their frustration on the people who work for the lender. Find an agent who has experience handling this kind of situtation.
Some lenders are easier to work with than others. What's important is that you demonstrate a hardship. Another thing. Be honest.

Before you call anybody, you must know what to say and what do. Don't rely in other opinions. Did you know there are laws that can help you to keep your house rent-free FOREVER? Take a look at http://www.foreclosureinprocess.com

First i recommend you call your bank and get in touch with their loss mittigation department. They will tell you want to do. Then you can watch a short sale video below.

First you need to call your lender. Ask themif you can list the home and sell it as a preforeclosure.
If you have some equity in the home, then go ahead and list it for sale with an agent who has an email list of buyers/investors who can buy your home quickly, so that you can save your credit.

Call me! I can advise you as to what to do. It depends on a miriad of differnet things-how much teh home is worth, how much you owe, how much time you have, and who -if anybody wants to buy your home. THERE ARE WAYS TO GET OUT WITH MONEY WHETHER YOU DECIDE TOSELL YOUR HOME OR NOT. CALL ME AT 859 273 3887

Hey Diane. It's october and hopefully you haven't foreclosed yet. I am a real estate consultant & pre foreclosure specialist. I come across alot of people who are in foreclosure and are not aware of their options. There are many ways you can go about this. Sell high and pay mortgage in full &get cash back. Sell low and do a short sale (I can do that), and walk away with only your credit and no foreclosure. DO NOT sign over your need because I promise you, that you are still responsible for your mortgage. There are so many scams and I see so many homeowners fall victim and still lose their home and credit. Let me know if I can help. Visit my website and click on left link 'pre foreclosure' and get some good information. Hope I can help. Thanks!

Diane, be proactive. Yes, speak with your lender, contact CCCS but also know that you have alternatives to selling your home. Depending on the type of loan you have, you may be able to take a partial claim through FHA/HUD and there is a new program, FHASecure, that you may be eligible for.

If you are going to work with a REALTOR to sell you home, be sure to ask them how many pre-foreclosure homes they ahve listed and have actually sold.

Also, Be on the lookout for those investors who ask you to sign over your deed -- you will still owe the mortgage if they stop making payments.

Good Luck to you.

Sell it to me or an investor I have! CAll-210-775-1281

With the lending situation the way it is it is going to be tough. Many sub-prime lenders are totally out of the market. There are still a few hard money lenders out there but you will have to show them that you have the ability to make payments and, if you have enough equity, you will be required to bring all payments current and pay any back taxes that are owed to bring all accounts current.

If the equity is not there it is not going to happen.

There are several alternatives to foreclosure but it depends on how far you are into it so if you are willing to disclose exactly where you are at we may be able to devise a solution for you so you do not lose the home to foreclosure.

Ed

Diane
You have received some great advice.
I would like to emphasize that communicating with the lender is absolutely critical.
I would also recommend talking with a Realtor about the sale of your home.
Most lenders would rather have you sell it than take it back as a foreclosure.

Hope this helps
Keith

Diane,

You have several options but they all depend on your situation.

How far along is your foreclosure? Have you gotten the notice yet?

How much equity do you have and what type of loans do you have?

These are all questions I would need to know in order to direct you to the right person. Best case, you can sell your home (reduced) but still walk away. In other cases, you may simply negotiate with the bank (short sell) and have someone buy it.

Calling an experienced Realtor may help. You can call me at 770-374-4667, if you like.