Stop Foreclosure - Different Methods Available

These tough economic times have made it hard for many Americans to keep their homes and afford their mortgages

. Anyone who is facing the possible foreclosure of their home has to deal with this devastating reality. If you are having troubles or are worried about not being able to afford your mortgage, you need to act now to reverse the issue and stop foreclosure as quickly as possible. You aren't alone in this fight to save your home and the help that you are looking for is easy to find. There is no one solution to stopping foreclosure, but experienced agents can offer several different options for people who need assistance.

If your property is not yet at an upside-down status, you are in a definite situation to be able to stop foreclosure. When a property is upside-down, the owner owes more on the home than they could sell it for on the current market. The services of real estate agents are the most capable of handling difficult situations before a property reaches such a predicament. The first method for avoiding foreclosure is to sell the home before the loan company can get a court ruling that pushes you out. An experienced real estate agent can work to get your home sold fast and get you into a location where you can handle the size of payments.

If you are already in the upside-down position, you will at least be able to use the short sale of your home to pay off what you owe. It's going to be impossible to pay off the loan completely with a short sale, but you'll at least pay off most of the property instead of having a foreclosure on your record. Of course, if you need another option to stop foreclosure, you could consider renting out your home to someone who can pay reasonable rates for rent. Then, you are able to save your home while providing a place to stay for someone else. You can easily find another place to stay that is more affordable for your means.

"Subject to" is another method to stop foreclosure in which the homeowner finds an individual to take over payments for a time. The mortgage remains in your name, but the person makes payments in your behalf. A dedicated friend or loving family member may be willing to extend this benefit to you. There is an amount of risk in this method, so be sure you completely trust the person making your payments. For more methods and details about those listed here, take advantage of a no-cost stop foreclosure consultation today.

David Rozansky is a licensed Realtor since 1995 and a short sale professional since 2005. He is a National Trainer of short sales helping to educate people how to navigate through the ever daunting task of successfully negotiating the short sale process.

David Rozansky's win-win-win approach to stop foreclosure and help a homeowner out of a turbulent financial situation has worked extremely well for all parties involved.

by: David Rozansky

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