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Friday, December 15, 2017

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Stop Foreclosure

Stop Foreclosure NOW!

STOP! Take a deep breath, everything will be okay! The most important thing you can do if you are facing foreclosure is to not panic, hence my reason for starting this paragraph with a (4) letter word! Now that I have your attention I want you to realize that you do have options!

There are (4) basic options for people facing foreclosure:

1. Loan Modification – In plain english, a loan modification is when we negotiate with your the mortgage company to “modify” the terms of your current mortgage in favor of new terms that are easier to manage based on your current situation.

2.┬áPayment Arrangements – This option is similar to the first one however generally when you make payment arrangements the mortgage holder is not necessarily modifying your mortgage terms but are instead making “temporary” payment arrangements to get you caught up and prevent foreclosure.

3. List of a Quick-Sell! – For many people this is a hard pill to swallow however it can potentially save you from plenty of unnecessary headache and long term financial turmoil. The reality of the matter is no one wants to sell their home however if you can’t afford to make the payments then your best option may be to prevent any further damage to your credit and sell the home before going into foreclosure!

4. Deed-in-Lieu of Foreclosure – This by far is your worst-case scenario however ultimately it prevents you from having the bank foreclose on the property. In essence this is when you voluntarily surrender the property back to the lender and again it is the worst-case scenario and I would only pursue this option after trying all (3) other options.

In our continuing efforts to provide cutting edge real estate services, you can always call www.TourHoustonForeclosures.com at (281) 403-3700 to speak with a seasoned real estate professional who can assist you with pursuing any of the several options that are available to you if you are facing a foreclosure.