Learn About the Options You Have When Over-leveraged, Facing Foreclosure, or In Foreclosure

There are only a few options you have when you are unable or unwilling to make your mortgage payments.  There are certainly many combinations of these options and, given enough time and forethought, there are ways to make each of these options more or less effective, but the fact remains that there are only a few options.

While some of these options are generally less desirable than others, they all have their place.  There is no “one-size-fits-all” solution.  What may be the right course of action for your neighbor, friend or relative, may not be the right course of action for you.  What the right course of action is for you depends entirely on your circumstances.  You need to know you financial picture, now and in the near future.  You need to know your budgets and exactly what you can and cannot afford.

Timing also has a great deal to do with choosing the right solution or combination of solutions.  The ideal time to choose your best option is long before you are in financial difficulty.  Of course, very few people strategically plan for an inability or unwillingness to pay their mortgage.  Most who read this information are already well down the path of missed payments and financial stress.  Financial stress may force you to consider some of these options over others.

Professionals of all sorts have their specialties and their preferred options.  As the old saying goes:  “When the only tool in your tool belt is a hammer, the whole world looks like a nail.”  Bankruptcy attorneys will almost always recommend bankruptcy.  Real estate brokers will almost always recommend a short sale, and so on.

At US Foreclosure Defense Law Group, P.C., we will explore all of the options with you and determine the right ones for your situation.  Our highly experienced team of attorneys are then able to formulate a strategy that is customized for you. It may include one or more of the options available when over-leveraged, facing foreclosure, or in foreclosure.  Regardless of which option is best for you, having an experienced attorney involved is very important.

Here are your options:

1. Reinstatement
2. Pay off/ReFinance
3. Walk – Away (Deed in Lieu of Foreclosure)
4. Forbearance
5. Partial Claims
6. Loan Modification
7. Short Sale
8. Negotiated Settlement
9. Bankruptcy
10. Sue the Bank

Click the link below to schedule an initial consultation. We’ll discuss your situation in confidence and we’ll recommend the options that make the most sense for you.

To set up a free consultation to see which options will work for you, click here.