Ways to stop foreclosure on your Walla Walla home.
If you are thinking about foreclosure on your home there may be options out there for you. The first thing you will need to do is determine where you are in your late payments and what position you are in currently.
If you have only missed one payment, you are not anywhere near foreclosure just yet. You will need to contact your lender and discuss your options. The last thing you want to miss is your mortgage payment. Stop making payments on everything else except food and shelter and make sure that mortgage payment gets made.
If you have missed more than one payment, still contact your lender and explain your situation. They don't want you to loose your home either. If you think of it that way it will make the embarrassment of calling them much less anxious. They are not in the Walla Walla real estate business and don't want to have to foreclose on your home.
Many times these lenders have programs in place to help borrowers with their mortgage payments. There are loan modification programs where the lender can re-evaluate your loan and come up with a more comfortable payment or even just a pause on payments for a short amount of time.
You can always talk to a Walla Walla real estate agent for options on a short sale. This is simply a sale where the owners are still the sellers but have gotten permission from the lender to sell at a lesser price than what is owed. This must be approved by the lender but is a better way out of a sticky situation.
If you have missed 3-6 months of payments and the banks have started the foreclosure process there still may be a way to avoid foreclosure but you must stay in constant communication with your lender, your agent and any 2nd lien holders.
Most people really loose out when they give up and stop communicating. This is where so many people are today and have started all the way back at the bottom with their credit and their lives.
Don't let this happen to you. There are many options for those that think they may be facing foreclosure.
Call LWB Realtors today for help on your Walla Walla real estate. If you are outside our area, we can help refer you to the right Realtor or lender in your area.
LWB Realtors: 509-525-8700