Are You Facing Foreclosure?

How to Avoid a Foreclosure Via a Deed in Lieu

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As a borrower, if there is no other option but to lose the property this is your best bet. You will avoid having a foreclosure on your record. This is the amicable way of working with the servicer and allowing them to take over the property as you won’t be able to continue. You might be able to relocate or cash for keys in this process versus being removed by the sheriff in a foreclosure sale.

Foreclosure

This is the last of all processes in a loss mitigation process. Where the bank must go through the courts to take possession of the property from the nonpaying borrowers.

You want to avoid this at all costs

Make sure to call and speak with your servicer if you are facing foreclosure. You will have implications on your credit and future mortgage financing. I know it can be overwhelming and downright embarrassing but don’t let that stop you. You are not alone over 1.75 million borrowers alone are on a forbearance plan because of Covid. We are all here to help and come up with a resolution. Don’t lose your house this way. There are plenty of Cash home buyers like ourselves that will help you come out of this in creative ways.