How to Avoid Foreclosure?

donaldfredNovember 18, 2009

can some one tell me how to avoid foreclosure

Thank you for reporting this comment. Undo
Billl

To avoid foreclosure, pay your mortgage on time each month.

If you can't do that, you can either work with the lender to change the terms of your loan OR sell the house. Both of those could have lots of complications, so instead of just guessing, how about you tell us more about your situation.

    Bookmark   November 18, 2009 at 8:55AM
Thank you for reporting this comment. Undo
dave_donhoff

Yeah, what billl said.... otherwise, perhaps we could guess about how to reverse gravity too?

    Bookmark   November 18, 2009 at 2:56PM
Thank you for reporting this comment. Undo
Carol_from_ny

Do you homework BEFORE you buy. Know what you can realistically afford taking into account that there will be some major setbacks like maybe needing a new roof or septic system so whatever price range you are looking in you should have reserve cash for unexpected surprises.
Just cause the bank employee tells you are good for X amount reality is the only person who really knows how much you can afford is you. You know your spending patterns as well as your savings patterns and if money is going out faster than it's coming in and you are always behind on bills or just barely making it from paycheck to paycheck and not able to save you aren't ready for home ownership no matter what that bank employee is telling you.
Once you get a home and you fall behind enough that the bank starts talking foreclosure you are already too late to avoid it.

    Bookmark   November 18, 2009 at 7:58PM
Thank you for reporting this comment. Undo
donaldfred

The options that will help you prevent foreclosure are

1. filing for bankruptcy.
2. loan modification.
3. deed-in-lieu.
4. short sale.

Here is a link that might be useful: Housing Assist Of America

    Bookmark   November 19, 2009 at 11:28PM
Thank you for reporting this comment. Undo
brickeyee

"The options that will help you prevent foreclosure are

1. filing for bankruptcy."

Generally only slows the process (briefly) unless you immediately affirm the debt.

    Bookmark   November 20, 2009 at 8:28AM
Thank you for reporting this comment. Undo
sweeby

I thought you were asking how to avoid foreclosure --
Now it seems you are telling --

Or is it SELLING?

    Bookmark   November 20, 2009 at 11:21AM
Thank you for reporting this comment. Undo
dave_donhoff

Its a spamming *F*A*I*L*

    Bookmark   November 20, 2009 at 1:36PM
Thank you for reporting this comment. Undo
Billl

It's a double fail since this goofball can't even spell the name of his website properly to make his link work.

    Bookmark   November 20, 2009 at 2:26PM
Thank you for reporting this comment. Undo
cmarlin20

Couldn't he have just registered under a new name and pretend he has the answers for his "new" friend. This is just a little too obvious.

    Bookmark   November 20, 2009 at 2:45PM
Thank you for reporting this comment. Undo
ncrealestateguy

IDIOT!!!

    Bookmark   November 22, 2009 at 9:30AM
Sign Up to comment
More Discussions
What qualifies an offer as a "low ball"?
Hello! Im on the house hunting side of things now! I...
karin_2015
Considering downsizing Advice desperately needed!
Have you downsized? I could use your input. Desperately...
jcorn1
Pond Dye Dumped Into My Pond and Stream... Water Rights Question
I never posted once in seven years, and now I post...
ncrealestateguy
1031 Reverse question
We already purchased an investment property and are...
Patience Spina
After months of preparation, house is now listed
This is such a big deal for us, we have been planning...
hollynla
© 2015 Houzz Inc. Houzz® The new way to design your home™