Are you thinking, I really need to keep my home California? If you are, it probably means you are behind on your mortgage payments and are looking for a solution. We’re here to help!
Of course, the first priority is to try and keep your home. We will provide some words of wisdom so that you may do everything in your power to stay! If those things don’t work, there are still a couple other options to prevent you from severely damaging your credit by going into foreclosure. With that said, here are some good options to consider if you are behind on your mortgage payments:
#1 – Negotiate with your lender
It’s definitely worth it to attempt to cut a deal with your lender. Do it sooner rather than later… ideally before you’ve missed any payments. That way, you won’t be on their naughty list, and you may still be able to get a present! Here are 3 “presents” that you might be able to receive if you haven’t contacted your lender too late:
#2 – Apply for a government help program
There are a number of government programs that will assist homeowners who are at risk of foreclosure and/or are struggling with their monthly mortgage payments. Here are two that may help:
The majority of these programs are administered through the U.S. Treasury Department and HUD. For more information about other programs that may be right for you, visit the U.S. Department of Housing and Urban Development website.
#3 – File for bankruptcy
If you file for bankruptcy, it will allow for an “automatic stay” which means that the foreclosure process if legally stopped. This may help you keep your home or, at the very least, get you out from under your mortgage. The foreclosure process can’t be reopened until your bankruptcy case closes or the lender “lifts the stay” (gets the court’s permission to continue the foreclosure process).
#4 – Sell your home by yourself
If none of these options work and you can’t keep your home, you should definitely try to sell it yourself to avoid foreclosure. This will hopefully allow you to pay back what you owe on the house, walk away with a clean slate, and save your credit score from taking a nosedive. If you’re lucky, you may even come out of it with a profit! If you need to sell your home yourself, CLICK HERE for a quick and easy solution and to save yourself from paying thousands of dollars in realtor commissions.