While the housing market is rebounding, many people still struggle to meet their mortgage payments in Citrus Heights.
If you’re in your home underwater or have trouble keeping up with your monthly mortgage payments, you might be worried your mortgage provider will foreclose.
Fortunately there are a number of things you can do in Citrus Heights to prevent foreclosure. Note that moving fast is absolutely paramount, and could save your credit rating and your house.
So let’s dive into a few quick tips on probably how to prevent foreclosure with your home in Citrus Heights.
The Keys of How To Avoid Foreclosure in Sacramento Don’t Abandon Ship
A lot of people just give up and walk away from home. There are even parts of Citrus Heights that have begun to resemble ghost towns, since the recession has significantly affected residents.
Detroit provides a prime example of what can happen when people leave their Citrus Heights homes.
This can be a stressful situation but maintaining your wits about you is extremely important. A bankruptcy will have an immense negative impact on your credit score, and will probably prevent you from buying a home for years to come. You could leave a portion of the loan unpaid if you sell your Citrus Heights home, and the lender could pursue legal action against you for the unpaid portion.
While it’s extremely stressful, you do have options:
• Negotiate with your mortgage lender. Banks and other financial institutions are well aware that Citrus Heights people are struggling with this. You may have some power to renegotiate the terms of your loan if you haven’t missed a payment yet. Banks don’t like household bankruptcy, and if you’re not too far behind, many will work for you. Forbearance may be given, or even a full loan modification.
Yes, You Can Stop Foreclosure…Contact Us.
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• Ask for help from Uncle Sam. The federal government has initiated a number of programs over the last five years to help distressed homeowners. The Home Accessible Adjustment Plan (HAMP) helps homeowners struggling to change their loans, reducing monthly payments. The Home Affordable Refinance Program allows borrowers with current mortgage payments to refinance an adjustable mortgage rate into a low-interest, fixed-rate loan. Both of these programs are subject to requirements for eligibility.
We recognize that it can be upsetting to have your home lost. You’re not alone on that. People all over Citrus Heights are facing the same difficulties. Foreclosure can have a lasting effect on your financial life and it is important to move quickly and leverage any available options. You could both save your credit rating and live in your Citrus Heights house.
We might help you avoid foreclosure … Connect today with us, and let us discuss your situation. We are not charging any fees … We’ll be evaluating your situation … Then present your options so that you can move ahead and get this hanging behind you.