How To Avoid Foreclosure
There are nine ways to avoid foreclosure. They are listed below.
Contact one of Davidson Realty's Certified Distressed Properties
Experts (CDPE) to find out which one is
the best solution for you.
- Reinstatement
- Forbearance
- Refinance
- Loan Modification
- Sell the Property
- Rent the Property
- Short Sale
- Deed in Lieu of Foreclosure
- Bankruptcy
Acceptable Hardships
A hardship is defined as: A material change in the financial
situation of a homeowner that is or will affect their ability to
pay their mortgage. Examples of financial hardships are:
- Loss of job
- Business failure
- Damage to property
- Death of spouse
- Death of family members
- Severe illness
- Inheritance
- Divorce
- Mandatory job relocation
- Medical bills
- Military service
- Payment increase or mortgage adjustment
- Insurance or tax increase
- Reduced income
- Separation
- Too much debt
- Incarceration