02/21/2023
Foreclosure is the atomic bomb of your credit. Call your lender ASAP if you expect you can’t make a payment. Here are some possible resolutions your lender might consider:
1) Forebearance - lenders might guve you extra time before taking legal action to work out a payment plan that you can afford.
2) Repayment plan - this option adds a small amount to your current monthly payments for a specified period of time until the amount of the missed payment is collected.
3) Note Modification- your lender might consider making changes to the conditions of the loan, such as freezing the interest rate for an adjustable mortgage or extending the length of the loan.
4) Debt Forgiveness- if you can develop a plan to be current with your loan after this missed payment, your lender might forgive or waive this missed payment. Keep in mind, however, that this option rarely happens.
It is very easy to get stressed and overwhelmed with the threat of a foreclosure. After all, our house is our biggest investment.
We may be able to help you avoid foreclosure all together and save your credit. We can buy your house with NO FEES and all CASH.
Contact us today to discuss your options.
817-420-7525
[email protected]
Need to sell your house fast in Texas? We buy houses for a fair cash price because we are cash home buyers. Contact us today!
