Facing Foreclosure? Here Are Your Options

Introduction

Facing foreclosure is one of the most stressful situations a homeowner can experience. The good news is that you have options, and taking action quickly can help protect your financial future.

Understanding the Foreclosure Process

Foreclosure doesn’t happen overnight. Understanding the timeline can help you make informed decisions:

Missed Payment: Your lender will contact you after the first missed payment
Notice of Default: Typically sent after 90-120 days of missed payments
Pre-Foreclosure: A period where you can still take action to save your home
Foreclosure Sale: The property is sold at auction

Your Options

1. Reinstate Your Loan

If you’ve missed payments but can catch up, you can reinstate your loan by paying all past-due amounts plus fees.

2. Loan Modification

Your lender may be willing to modify your loan terms to make payments more manageable.

3. Forbearance Agreement

A temporary agreement to pause or reduce payments while you get back on your feet.

4. Short Sale

Sell your home for less than you owe, with lender approval. This damages your credit less than foreclosure.

5. Sell Your Home Quickly

If you have equity in your home, selling quickly—especially to a cash buyer—can help you avoid foreclosure entirely.

How FairHome Offer Can Help

We work with homeowners facing foreclosure every day. We can:

Make a fair cash offer quickly
Close before the foreclosure sale date
Handle all the paperwork
Help you avoid a foreclosure on your credit report

Conclusion

The most important thing is to act quickly. The longer you wait, the fewer options you’ll have.

Don’t face foreclosure alone. Contact us today to discuss your options.

FairHomeOffer