How to Avoid Foreclosure

Foreclosures are at the highest level since the Great Depression, with people losing their homes due to adjustable mortgage rates increasing monthly payments and job cuts due to the recession. Not only is it devestating to someone to lose their home, but it also ruins their credit. As home values continue to decrease, due to foreclosure sales driving down the value, home owners are having a terrible time trying to sell their house in a down market and get the price they need just to break even! Here are a few ideas on how you can avoid foreclosure:

-  If you are not able to decrease the price of your home to get it sold, then renting the house could be an option to float your monthly payment.

-  Lease to purchase option has become a popular plan to get your house occupied rather quickly with someone who actually wants to own the home at some point and time. These people usually have less than perfect credit, but are willing to work to get it straightened out.

-  If you are behind on your mortgage payment, then a short sale could be an option to get your home sold fast at a discount price, with permission from the bank.

If you are facing the prospects of foreclosure, it is in your best interest to do everything possible to avoid it, call a realtor for advise, or a property management expert to help, or you can call me at 770-402-8905, and I will be glad to help.