Homeowner’s Options For Avoiding Foreclosure Checklist-Salem Oregon Real Estate

Do you find yourself in the position of no longer being able to make the mortgage payments on your home?  You are not alone!  Here is a checklist of some of the options that you have available to you.

_____ Bring your loan current and maintain regular payments in a timely manner.

______ Work out a repayment plan.

______  Refinance your home with better rates and terms.

______  Modify your current loan with your lender

______  Rent your home and make the mortgage payments to your Lender.

______  Sell your home and pay off the loan amount.

______  Borrow money from a relative or friend to bring your payments current.

______  Get protection under the Service Members Civil Relief Act (SMCRA)

______  Enter into a Deed in Lieu of Foreclosure or “friendly foreclosure”.

______  File for Bankruptcy protection to stall the foreclosure process.

______  Sell your home in a “short sale” if the lender will accept a discounted payoff for the outstanding mortgage due.

If you would like more information about the short sale process, you can contact me directly at 503-931-1846.  You can also find more information on Short Sales and Foreclosures on my blog under the Short Sale/Foreclosure section.