A reinstatement will be your simplest solution to your problem, but in some cases, it is not that easy. You will need to provide the bank with all of the back and current payments, interest, late fees, and other fees incurred by the default of the mortgage. This payment must be received prior to the foreclosure.
This involves a reduction in the principal loan balance, loan term, interest rate, or a combination of all three. As a result, the mortgage becomes more affordable.
A homeowner can also choose to rent their property, provided their mortgage payment is lower than the rental amount.
This lets the homeowner return their property to the lender as opposed to going through the process of foreclosure. However, you need to get bank approval.
While bankruptcy is not good for your credit rating, applying for it can be a viable solution when you have to stop a foreclosure.
Refinancing the mortgage can take place when homeowners have a good credit rating and their property has sufficient equity.
Homeowners can choose to sell their property by listing it with a qualified real estate agent. Federal City Properties, LLC can provide several real estate agents to choose from.
Federal City Properties, LLC has no association with any government programs or agencies, nor is our company approved by any such agencies or lenders. You can thus choose to stop doing business with us any time.
Do you want to save your house from a foreclosure, but don’t know how? Well, you are lucky because we are here to help! We happen to be in touch with numerous national lenders that specialize in refinancing homeowners who are behind on their payments. This means that we will be able to search for the best loan providers for you in the shortest span of time, so that you can stop your foreclosure.
Foreclosure is a massive financial challenge that many families in America end up facing. Some do not know that this problem can actually be avoided at times, provided the right measures are taken. At Federal City Properties, LLC, we provide a comprehensive service to our clients in this regard and will help you to stop foreclosure.