Free List of Foreclosures Emailed to You
In today's market you owe it to yourself to work with a professional that knows the foreclosure market. This list will show you some of the best deals currently on this market and it's a great place to start your search. Browse hundres of foreclosures, and get instant free access to foreclosure deals!
Sellers Facing Potential Foreclosure Have Options
Your options to keep your home are:
- Forbearance – agreement to reduce or suspend payments for a short time
- Reinstatement – pay total amount in lump sum by specific date in exchange for forbearance
- Repayment Plan – agreement to resume monthly payment with a portion of the past due payments each month until caught up
- Loan Modification – agreement to change terms of loan to make payment more affordable, i.e., modify interest rate and/or loan amount, extend term of loan
- Refinance – FHA Secure Program, etc. (up to 125% of market value)
Your options to sell your home are:
- Loan Assumption – loan not normally assumable
- Deed-in-lieu of Foreclosure – hand over the keys and give the home back
- Short Sale – the bank agrees to accept less than what is owed as payment in full
Top Ten Things Sellers Should Do When Facing a Potential Foreclosure
2. Analyze Financial Status & Problems
3. Analyze your budget
4. Explore all options
5. Learn about their rights when facing foreclosure
6. Plan for results before acting – deficiency judgment, tax consequences
7. Ask for a delay in foreclosure
8. Make a partial payment
9. Avoid foreclosure scams
10. Don’t abandon the home