You have options

Loan Modification or Repayment Plan

• You can work with your lender to adjust your mortgage terms, lower your payments, or create a structured repayment plan to catch up on missed payments.
• This option helps you stay in your home while making your mortgage more manageable.

Sell Your Home (Traditional Sale or Short Sale)

• If keeping the home isn’t an option, selling it before foreclosure allows you to pay off your mortgage and potentially walk away with cash in hand.
• A short sale—where the lender agrees to accept less than what’s owed—can be an alternative if the home’s value is less than the remaining mortgage balance.

Deed in Lieu of Foreclosure

• With this option, you voluntarily transfer ownership of your home to the lender to avoid foreclosure.
• While it still impacts your credit, it’s often less damaging than a foreclosure and may offer relocation assistance.

Each situation is unique, and the best solution depends on your financial circumstances. If you’re facing foreclosure, let’s discuss your options and create a plan that works for you. Contact me today for a free consultation.