I may be interested in working with you to help get you out of this unfortunate situation. As a mother of two, I understand what you are going through. If you are willing to consider the possibility of having my company take over the existing financing of your home, this would be a great opportunity for another family as well..
I have done this with families before to keep them from going into foreclosure and had some stopped days before their home was to be sold on the courthouse steps. Please Tonya, do not wait and let this happen to your family. I have the solution! Together, we can save your family and your credit. Please click on my name that is linked to my profile to see how committed I am to helping others.
Go to my website, http://www.takeovermypayments.singlemombuyshomes.com/ to fill in your contact information and I call you back as soon as possible. I look forward to hearing from you soon Tonya.
Be at peace and prosper.
Mecshell Wright, District Manager/Investor
Home Buyer & Seller Solutions, Inc.
Chattanooga, TN for a free telephone consultation.
Some of the alternatives to foreclosure are: lender forbearance, "short sale subject to lender approval" and "loan loss mitigation"
Yes foreclosure damages your credit, - You will be seen as high risk for any real estate loan for at least the next couple of years; you will pay more for auto loans and credit cards etc... but only if you borrow money.
You could convert to a pay as you go lifestyle for a few years until the blemish on your credit fades away.
You would probably have a difficult time renting a desirably located apartment with the foreclosure on your record, but the average aparment landlord might let you in if your history before the foreclosure was good and there is enough income left to pay the rent and living expenses.
I personally know some great Realtors in Chattanooga, if you would like a recommendation of a great agent who works with short sales. Don't hesitate to let me know if you'd like me to put you in touch.