The foreclosure process typically starts 90 days after you’ve been unable to make your payments to your lender or mortgage broker.
Anyone who’s going through a possible foreclosure knows that it’s an uncertain time in their life. If you’re looking to stop foreclosure in Salt Lake City, follow these tips.
Call Your Lender or Mortgage Broker
Even if you can’t make your payments, you should call your lender as soon as it’s clear that you’re falling behind on payments. You should also consider calling them if they’ve just issued the foreclosure notice. You might be able to apply for a loan modification that would adjust the amount of money you’re expected to pay per month.
If you can lower the amount you’re paying every month, you’ll be paying for your home for a longer amount of time, but it’ll make it more manageable for you to make payments.
Sell Other Items of Value
To stop foreclosure, you’ll have to make the late payments that you’re behind on. This doesn’t mean that you have to pay off all of your home though; it just means that you need to catch up.
One way to put some extra cash into your life is through selling other items of value that you own. This could be furniture, technology pieces - such as a laptop or TV , or a vehicle if you have an alternative method of transportation.
Sell Your Home
Another way to stop foreclosure is to sell your home so you then have enough money to make up for the late payments and to pay off the rest of your mortgage.
Although selling your home may feel the same as foreclosure, you’ll have more options if you choose to sell your home rather than allowing for the bank to seize it.
You can sell your house fast without making repairs by choosing to sell to a cash home buyer. They will buy on your timeframe and you won’t have to worry about any closing fees or costs. Plus you can get cash in your pockets quickly. It’s a great solution if you need to get out of your home fast before facing foreclosure!
Sell to Enlight Homebuyers
If you’re attempting to stop foreclosure in Salt Lake City, call Enlight Homebuyers at 801-939-0123 today! We are trusted cash home buyers in your area and have worked with a handful of people in your same situation. We look forward to working with you!