Walking away from your mortgage and into foreclosure
Published On: April 5, 2011 Posted by: TownsRealty
Currently many homeowners are facing difficult situations involving their home mortgage and in some cases the threat of foreclosure is in that package.
When you are faced with the difficult situation of not being able to afford your monthly mortgage don’t just walk away from the mortgage. Before making any major decisions consider your options carefully.
There are other options than foreclosure. You can work with your lender on a loan modification and if that doesn’t work than try a short sale.
Whether is your primary home or an investment property you can do a short sale rather than let your home be foreclosed by your bank.
Your lender will work with you on a loan modification or a short sale since these two options are less costly for them.
Foreclosure is not an option….