If you're in danger of falling behind on your mortgage, or if you're already delinquent, it's important to know what's ahead and what your options are. Usually, the faster you move, the more choices you'll have about your financial future.
Lenders today typically offer a variety of solutions for people who have fallen behind on their mortgages. Among them:
Special Forbearance
Your mortgage company may be able to arrange a
repayment plan based on your financial situation.
Mortgage Modification
You may be able to refinance the debt and/or extend the term of your mortgage loan.
Short Sale
This will allow you to sell your property and pay off your mortgage loan to avoid foreclosure and damage to your credit rating.
Deed in Lieu of Foreclosure
As a last resort you may be able to voluntarily "give back" your property to the mortgage company. This won't save your house but it will help your chances of getting another mortgage loan in the future.
The longer you wait the harder it is for us to help!
Understanding your options now could mean all the difference in the world. As CDPEs, we can help!

