Foreclosure. The word is enough to send the most comfortable of homeowners into a spin. However what most don’t seem to understand is, for better or worse, frankly no one can see life’s curveballs coming. These unexpected burdens are often laden with financial stress could leave you in the most unfortunate of financial circumstances: a foreclosure of your home.
If this is the situation you find yourself in currently, you undoubtedly can find yourself thinking “how can I stop a foreclosure?”
First off, you can talk to your lender to develop a plan. If your due date for your mortgage payment has passed, your lender will be aware that you are in default. Instead of waiting for your lender to contact you, as soon as you realize you are unable to make the payment, call them right away. Defaulted customers are a common issue that lenders deal with, so the advice you receive from your lender can be trusted. Since continuing with a foreclosure is a long and expensive process, lenders are likely to be open to other alternatives.
Second, The Home Affordable Foreclosure Alternatives Program can provide you with an opportunity to exit your home and be relieved of your remaining mortgage debt, often through a DIL (deed-in-lieu) of foreclosure. Mostly, HAFA does not affect your credit score as substantially as a foreclosure, giving you a faster financial recovery.
However, if you happen to be at the point where neither of these options will stop your foreclosure, then you might want to go for option three: selling your home. This can be the best option to get you out of debt, and into a new home, giving you that fresh start you dream about.
If you decide to sell your house pre-foreclosure, there will be no evidence of a foreclosure on your credit history, and you get to walk away with some money to show for your equity.
This can leave you in a much more positive position. Your financial burden can be lessened, and your credit may be able to be salvaged to a degree. Yes, in the dark and sinister shadow of a looming foreclosure, selling your home can actually provide you with a light at the end of the tunnel.
MoneyBug is designed to help homeowners just like you sell their homes quickly for the guaranteed highest cash offer. With the compassionate goal to help you, the homeowner, MoneyBug remains flexible to your situation no matter your distress. Even damaged homes will be accepted through MoneyBug, so you can sell your home as-is, and still receive a guaranteed highest cash offer on your house.
Not only is this is great for when you need to sell your house quickly, it also saves you the time and effort of renovating or repairing your home before sale. When you sell your home to MoneyBug, you will be offered fast and fair offers, no closing costs, and often you can close in 7 days in most cases. MoneyBug offers flexibility toward your situation, and even has an instant online offer portal so you can see right now what cash offer you could get for your home.
Really, it’s as easy as:
In most cases, selling your home is the best option to avoid a foreclosure. In these scenarios, time is of the essence. So don't wait until it is too late, see what MoneyBug can do for you.