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
Some lenders are easier to work with than others. What's important is that you demonstrate a hardship. Another thing. Be honest.
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.
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.
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.
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
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.