Avoid foreclosure

A brief summary...

1.  Ways to avoid foreclosure.

    If you need to avoid foreclosure for a house that is going into foreclosure soon, you should seriously consider what your options are before making any decisions. Following are some of the issues to be considered:

2.  How much time do you have to avoid foreclosure.

• How far are you behind on the payments?

• Has the house already been scheduled for foreclosure sale?

• How much time is it until the foreclosure sale?

• Do you know how to find out if it is on the foreclosure sale?

• Have you looked at refinancing options with your lender and debt negotiation?

• Have you researched reputable websites about your foreclosure options for your particular state?

• Is there even enough time to sell your house before the foreclosure sale?

• Do you have a lot of time so you might try selling it on the retail market?

• Or is your time already down to weeks and days, have you contacted reputable investors for no obligation offers?

• Have you asked multiple investors to make offers on your property?

• If they can buy it fast but you won't save any equity, is it still an option for you?

• How concerned are you about having a foreclosure on your record?

• Have you talked with investors about them assuming your payments?

• If there is not much equity in the house, have you discussed an investor Lease/Optioning?

• Have you contacted any reputable private lenders about refinancing options?

• Are you prepared to pay high rates for private lender money, will they consider your property?

• Have you discussed your payment situation with your bank, to avoid foreclosure?

• If you need more time to sell the house, have you asked your bank for that time?

• Did you show the bank you have the house listed on the MLS?

• Does it seem like they are willing to work with you on a payment program, or would they rather foreclose?

    You may also discuss these questions with investors you contact and see if they have ideas for you, unless they are prepared to buy your property.

    Remember, time is important in your ability to avoid foreclosure process. The longer you leave it, the less options you will have to work with and you may be too late to avoid foreclosure.