Worried about foreclosure? Good news—there are several ways to stop the process and protect your credit, your equity, and your peace of mind.
Here are five strategies to help you avoid foreclosure and move forward with confidence.
1. Loan Modification
You can request new terms from your lender, such as a lower interest rate or an extended loan term. This can make your payments more manageable.
2. Forbearance Agreement
This option temporarily pauses or reduces your mortgage payments. It’s a good fit if you’ve had a short-term hardship (like a job loss or medical emergency) but expect your situation to improve.
3. Short Sale
With lender approval, you can sell the home for less than you owe. It’s not ideal—but it’s often better than a full foreclosure on your record.
4. Deed in Lieu of Foreclosure
Instead of going through the foreclosure process, you voluntarily transfer ownership of the home to the lender. This still impacts your credit, but it may reduce legal costs and stress.
5. Sell to a Cash Buyer
This is often the fastest and most stress-free option. You can sell your home in days, even if it needs repairs. At Heritage Home Buyers, we buy houses as-is and close fast—with no commissions or closing fees.
Next up: “What Happens If You Let Foreclosure Happen?”
Have questions now? We’re here to help.
👉 Call (334) 463-6955 or get your free offer at www.HeritageBuys.com.