Atlanta short sales
Atlanta short sales
9 Ways to Avoid Foreclosure
In today’s economy, many people are finding it hard to make their mortgage payments on their Atlanta home.
Here are 9 ways that might help you and what each means.
1. Reinstatement- Bring the loan current with all past due payments made.
2. Forebearance-Temporary repayment plan
3. Refinance-New loan that will reduce your monthly payments
4. Loan Modification-Modify the original terms of the loan
5. Sell the property-You would use your equity to pay off the balance of the loan.
6.Rent the property-Must keep the loan current in order to do this.
7. Short Sale-Negotiate with the bank to accept a sale under the current amount you owe on the loan
8. Deed in lieu of foreclosure-”friendly foreclosure” you give the home back to the bank
9. Bankruptcy-Will stall foreclosure but no prevent it.
